Not China, This Country Actually Invests the Most in Indonesia

Foreign direct investment (FDI) realisation in the first quarter of 2026 reached Rp 250 trillion. This figure equates to 50.1% of the total investment realisation in Indonesia in the first three months of this year, which amounted to Rp 498.8 trillion.

For a long time, when discussing foreign investment, China has always been mentioned as the country pouring the most funds into Indonesia. However, the reality is otherwise.

Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) Rosan Perkasa Roeslani stated that over the past ten years, the country that has invested the most money in Indonesia is Singapore.

In fact, in the most recent first quarter of 2026, the Lion City has already invested US$4.6 billion, or approximately Rp 75.9 trillion (using the state budget exchange rate of Rp 16,500 per US dollar). This amount is twice as large as the funds poured by China into Indonesia.

“Indeed, if we look at the past ten years, Singapore has consistently recorded as the largest FDI country to Indonesia, at approximately US$4.6 billion,” he said during the Press Conference on Q1 2026 Investment Realisation Achievements at the Ministry of Investment Office, Central Jakarta, on Thursday (23/4/2026).

Only then, in second place, is Hong Kong with an investment contribution of US$2.7 billion, or equivalent to Rp 44.55 trillion. Meanwhile, in third place is China with an investment of US$2.2 billion, or Rp 36.3 trillion.

In the records of the Ministry of Investment and Downstreaming/BKPM, the sources of funds entering the country from Hong Kong and China are separated. Even though Hong Kong is actually a special administrative region of China.

“So if we combine Hong Kong and China, they become Indonesia’s largest investors at approximately US$4.9 billion,” he continued.

Then, in fourth place, is the United States (US) with an investment of US$1.3 billion, or Rp 21.45 trillion. And in fifth place is Japan with an investment of US$1 billion, or Rp 16.5 trillion. After that, there are also South Korea (South Korea), Malaysia, and the Netherlands, but the amount of investment they have planted in Indonesia during the first quarter of 2026 was not specified.

In addition, in his presentation, Rosan also reported that the subsector receiving the most foreign funding is the Basic Metal Industry, Metal Goods, Not Machines and Equipment, valued at US$3.7 billion, or Rp 61.05 trillion.

Then, in second place, is the Other Services subsector with a total investment of US$2.1 billion, or Rp 34.65 trillion. Third is the Mining sector at US$1.1 billion, or Rp 18.15 trillion.

The subsector receiving the most foreign funding throughout the first three months of 2026, in fourth place, is the Housing, Industrial Estates, and Office sector at US$0.9 billion, or Rp 14.85 trillion. And finally, from the Electricity, Gas, and Water sector, also at US$0.9 billion, or Rp 14.85 trillion.