5 Countries with the Largest Investments in Indonesia 2015-2025 - GoodStats
Foreign direct investment (FDI) plays a crucial role as a driver of Indonesia’s economic transformation, particularly through accelerating the industrial downstreaming programme. This international capital flow not only brings funding availability but also technology transfer and access to global markets, strengthening national competitiveness in strategic sectors.
According to data from the Ministry of Investment/Coordinating Agency for Investment Management (BKPM), foreign investment realisation in Indonesia in 2025 reached Rp900.9 trillion, or grew by around 0.1% compared to the previous year. FDI contributions were dominant in the downstreaming sector, where foreign investment amounted to Rp429.6 trillion or about 73.5% of total national downstreaming investment, with a primary focus on developing the nickel, copper, and iron and steel industries.
According to BKPM’s 2025 survey, Indonesia’s main attractions for foreign investors lie in the promising domestic market growth and large consumer base, supported by a population of 280 million with a strong productive age structure.
From 2015 to 2025, there are five countries that consistently rank at the top as major investors in Indonesia. These five countries are Singapore, China, Hong Kong, Japan, and Malaysia.
Furthermore, China ranks second cumulatively with a total of USD$53.0 billion. China’s investment increased significantly after 2020. In 2020, China’s investment was recorded at US$4.8 billion, then nearly doubled in 2024 to US$8.1 billion.
Hong Kong is in third place with a total investment of US$49.2 billion over the 2015–2025 period. In 2024 and 2025, Hong Kong ranked second above China.
Japan ranks fourth cumulatively with a total of US$42.2 billion. Japan’s annual investment value tends to be stable in the range of US$2.3 billion to US$5.4 billion.
With an investment realisation of US$27.1 billion, Malaysia fills the fifth position. Malaysia has consistently entered the top five since 2018. In 2024 and 2025, Malaysia ranked fourth.