ID has attracted nearly US$81 billion investments in 2024 so far

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Indonesia has reportedly attracted nearly US$18 billion (Rp 1,261.4 trillion) worth of investments in 2024 so far. The amount is a combined investment from both foreign and domestic investors.

This comes as President Joko Widodo aims to record Rp 1,650 trillion in overall investments for 2024 or during his last year in office, reported Jakarta Globe. The latest figures as of September this year, has achieved 76.5% of Widodo's target.

In addition, investment minister Rosan Roeslani reportedly told media that the nation is on track to reach the target by the end of the year.

Don't miss: MY energy company reNIKOLA to invest IDR 3.7 trillion in Indonesia

Of the total investments, 51.9% are foreign direct investments, with Singapore retaining as Indonesia's largest foreign investor. As of January to September 2024, Singapore has reportedly invested approximately US$14.4 billion.

Following closely behind Singapore is Hong Kong at US$6.1 billion followed by China at US$5.8 billion and the US at US$2.8 billion. Meanwhile, Malaysia has invested US$2.7 billion, according to media reports.

Rosan reportedly added that non-Java provinces are gaining popularity among investors and that about 50.34% of the total investments were directed to outside Java.

Of the non-Java destinations, Central Sulawesi is reportedly the most sought-after destination for foreign investors, with investments totaling to US$6.4 billion. This puts Central Sulawesi behind populous West Java, which is currently at US$7.5 billion.

Domestic investors, on the other hand, reportedly seem to favour Riau and East Kalimantan. Local investors have invested around Rp 52.7 trillion in Riau throughout January to September. East Kalimantan attracted nearly Rp 38.8 trillion over the same nine-month period.

In August this year, it was reported that Malaysia renewable energy company reNIKOLA is planning to invest over RM1.05 billion (IDR 3.70 trillion) to develop 40 compressed biomethane gas projects in Indonesia.

The projects will be developed with PT Perkebunan Nusantara IV, a division of Indonesia's state-owned agricultural enterprise Perkebunan Nusantara, according to The Star.

In addition, reNIKOLA reportedly announced that it signed an agreement with Perkebunan Nusantara IV to build, own, operate and transfer a compressed biomethane gas project in North Sumatra.

Currently, reNIKOLA reportedly owns and operates solar plants across Malaysia and Indonesia with a combined generating capacity of 220 megawatts.

Photo courtesy Joko Widodo, Facebook

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