14:19 | 07/11/2016 Global Economy
China’s foreign direct investment (FDI) in Indonesia stood at 1.6 billion USD in January – September, 2016, nearly tripling the figure from the same period last year, according to the Investment Coordinating Board of Indonesia (BKPM).
Indonesia's President Joko Widodo (L) and China's President Xi Jinping - Photo: Xinhua
China is currently the third biggest foreign investor in Indonesia , after Singapore and Japan.
Chinese firms are running about 1,205 projects, focusing on metallurgy, cement, and automobile.
The soaring investment from China showed the bilateral relations, especially economic ties, have been expanded, said deputy chairman of the BKPM investment supervision Azhar Lubis.
He noted that China has become the biggest trade partner of Indonesia over the past five years.
The official said he believes that China will continue to be one of the five largest investors in Indonesia with the FDI maintained at a high level.
Apart from China , Singapore’s investment in Indonesia in the first nine months increased to 7.1 billion USD from 5.9 billion USD in the same period of 2015.
Meanwhile, FDI from the US plunged to 400 million USD from 2.4 billion USD in 2013./.