Singaporean investors pour money into Indonesia to tap commodities

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SINGAPORE -- Singapore investors are flocking to Indonesia with an eye to tapping its rich commodity reserves and fast-expanding consumer base.

Foreign direct investment (FDI) in the country - once shunned because of its corruption, political unrest and poor infrastructure - rocketed from SG$508 million (US$372 million) in 2006 to SG$4.4 billion last year, according to International Enterprise (IE) Singapore figures.

And in the second quarter of this year, Singapore investment into Indonesia topped US$1.6 billion, according to the Indonesian Investment Coordination Centre, making the city-state its top investor.

This amount spread over 156 projects, formed a large chunk of the US$3.7 billion Indonesia attracted globally during the April to June period this year.

CHINAPOST/Singaporean investors pour money into Indonesia to tap commodities