{
    "success": true,
    "data": {
        "id": 1553729,
        "msgid": "indonesia-expects-slower-growth-in-direct-investment-this-year",
        "date": "2016-08-25 08:44:15",
        "title": "Indonesia Expects Slower Growth in Direct Investment This Year:",
        "author": "",
        "source": "Reuters",
        "tags": null,
        "topic": null,
        "summary": "Official Direct investment in Indonesian firms from foreign and domestic sources is expected to grow more slowly this year, the country's investment board chief said on Tuesday (23\/08), noting that Southeast Asia's largest economy had lost out to Vietnam in the regional competition to attract funds.",
        "content": "<p>Official<\/p>\n<p>Direct investment in Indonesian firms from foreign and domestic sources<br>\nis expected to grow more slowly this year, the country's investment<br>\nboard chief said on Tuesday (23\/08), noting that Southeast Asia's<br>\nlargest economy had lost out to Vietnam in the regional competition to<br>\nattract funds.<\/p>\n<p>Thomas Lembong, chief of the Investment Coordinating Board (BKPM), said<br>\ntotal direct investment from both foreign and local investors will<br>\nlikely grow 12-14 percent annually in 2016, excluding investment in<br>\nbanking, oil and gas sectors. That compares with 17.8 percent growth in<br>\nsuch investment in 2015.<\/p>\n<p>Last year, foreign direct investment into Indonesia was $29.3 billion,<br>\nwhile locals invested Rp 179.5 trillion ($13.6 billion), according to<br>\nthe board's data. The sectors that received the most funds were<br>\ntransportation, telecommunications, electric power and mining.<\/p>\n<p>\"We have to admit there is a regional trend where Vietnam ... has worked<br>\nhard in the past 8 to 9 years to be an investment magnet and it is<br>\nreaping the results now. Indonesia must catch up,\" Lembong told a press<br>\nconference at the palace, after a limited cabinet meeting with President<br>\nJoko Widodo.<\/p>\n<p>The economy posted its strongest growth in two and a half years in the<br>\nsecond quarter, at 5.18 percent. But the government announced a $10<br>\nbillion spending cut this month, that forced the central bank on Friday<br>\nto trim its growth forecast this year to 4.9-5.3 percent.<\/p>\n<p>Widodo, whose five year term ends in 2019, has prioritized improving<br>\nIndonesia's investment climate. He has already streamlined some<br>\nregulations and opened up dozens of sectors to foreign funds in a move<br>\nthat he described as a \"big bang\" liberalization.<\/p>\n<p>To get more investors this year, Indonesia will review and drop more<br>\nregulations that have hindered investment, said Cabinet Secretary<br>\nPramono Anung.<\/p>\n<p>Jakarta will also monitor and improve the efficiency of permit handling<br>\nin 10 provinces where Indonesia received the most investment, Lembong added.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indonesia-expects-slower-growth-in-direct-investment-this-year",
        "image": "jakarta.jpg"
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}