JAKARTA (Reuters) – Foreign direct investment (FDI) in Indonesia rose 63.6% on a yearly basis in the third quarter in rupiah terms, its investment minister said on Monday, boosted mainly by development of resources processing.
Bahlil Lahadalia said that the trend of investment in the processing industry was due to construction of smelters, part of Indonesia’s strategy to give more value to its minerals.
FDI value in Q3 reached 168.9 trillion rupiah ($10.83 billion), Bahlil said, with Singapore, China and Japan the biggest sources.
The data excludes investment in banking and the oil and gas sectors in Indonesia, Southeast Asia’s biggest economy.
“I expect that FDI in the next quarter will also grow above 50% as industries will try to finalise investment targets this year in the last quarter,” he told a news conference.
Bahlil said he believed the economic slowdown in one of its biggest partners, China, would not affect the flow of investment into Indonesia, due to Beijing’s political stability.
Investment from China to Indonesia in the Q3 period reached $1.6 billion, below Singapore at $3.8 billion, according to the ministry’s data.
Including domestic sources, total investment during the period surged 42.1% from July-September 2021 to 307.8 trillion rupiah, boosted by rise of investment in manufacturing, transportation and mining sector.
A regulation on incentives for investors in the $32 billion new capital city, called “Nusantara”, is expected to be completed this month, Bahlil said.
The regulation is expected to covers a wide range of incentives, such as a 30-year tax break.
Bahlil said several countries, such as China, South Korea and some European nations, have pledged to invest in Nusantara, although he could not provide details on the proposed amount.
($1 = 15,590.0000 rupiah)
(Reporting by Stefanno Sulaiman and Ananda Teresia; Editing by Martin Petty)
The Best Investment Decision I Made in 2022 – The Motley Fool
It’s hard to believe 2022 is almost over. It’s been quite a ride. In this video, Fool.com contributors Tyler Crowe and Matt Frankel, CFP, take a look at their best investment decisions of the year.
**Stock prices in this video as of Dec. 7, 2022. This video was published on Dec. 8, 2022.
Matthew Frankel, CFP® has positions in Iron Mountain and Redfin. Tyler Crowe has positions in Iron Mountain and Redfin. The Motley Fool has positions in and recommends Iron Mountain and Redfin. The Motley Fool recommends the following options: short November 2022 $17 calls on Redfin. The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
Investment in Road Upgrades – Government of Nova Scotia
The Province is investing an additional $4 million in the Rural Impact Mitigation program and equipment to improve roads in Nova Scotia.
The government had already increased its commitment to the program by $11 million, as well as investing $20 million more in the Gravel Road Capital program.
“Improving our provincial roads is important for the safety of Nova Scotians and an investment that makes sense to extend the lifespan of this vital infrastructure,” said Public Works Minister Kim Masland. “The sooner we make this investment, the sooner people are safer, and the longer our roads will last.”
Investments will be made by the end of the fiscal year and will include rebuilding gravel roads, brush cutting, pavement patching, ditching, shoulder gravelling, guardrail repairs, shoreline protection and equipment purchases.
The government had already budgeted more than $62 million for these two programs, bringing the total investment this year to more than $66 million.
This additional support for the Rural Impact Mitigation program is greatly appreciated. There is no shortage of projects that need to be completed. This program is particularly beneficial for some of the smaller contractors within road building. These smaller contractors are very important to the overall Industry health.
Grant Feltmate, Executive Director, Nova Scotia Road Builders Association
- the Rural Impact Mitigation program annual budget has grown from $11 million in 2021-22 to $26 million this year
- the Gravel Road Capital program budget has increased from $20 million in 2021-22 to $40 million this year
- Department staff evaluate and prioritize the roadwork that needs the most attention, taking into consideration factors such as road condition and traffic volumes
Shenzhen Holds 2022 Global Investment Promotion Conference to Build a Magnet for International Investors
SHENZHEN, China, Dec. 8, 2022 /PRNewswire/ — Shenzhen welcomes outstanding investors from all over the world. The 2022 Shenzhen Global Investment Promotion Conference will be held in Shenzhen, China on December 9. A number of major projects in the fields of information technology, artificial intelligence, biotechnology, new energy, new materials, high-end equipment, and environment protection will be signed to contracts.
With the theme ‘Spur Opening Vitality, Gather Innovation Momentum — Invest in Shenzhen, Build a Winning Future’, the conference will award certificates to outstanding introduced businesses, multinational corporate headquarters, and investment consultants. The conference demonstrates Shenzhen’s determination to promote a high level of openness and present its top business environment, according to the Commerce Bureau of Shenzhen Municipality.
Shenzhen’s appeal to investors has not only been shown in China, but also worldwide. There have been 16 sessions of the 2022 Shenzhen Global Investment Promotion Conference held in 16 cities worldwide, including New York, Detroit, Paris, Dublin, Tokyo, Sydney, Brisbane, Johannesburg, Moscow, etc. Through online investment and online signing, Shenzhen has deeply connected with global investors, invited overseas businesses and talent to invest and set up companies in Shenzhen.
The session in Rio de Janeiro received nearly 100 attendees, including Tian Min, the Chinese Consul General to Rio de Janeiro, Eduardo Paes, the Mayor of Rio de Janeiro, Li Ke, the Executive Vice President of BYD, and representatives of well-known local trades, technology companies, and trade associations. Participants have expressed their hopes that Brazilian and Shenzhen businesses will conduct further exchanges and benefit from each other’s strengths, continue to explore new grounds for cooperation, and promote the in-depth development of China–Brazil economic and trade relations.
The Shenzhen Global Investment Promotion Conference has been held for three years with more than 600 projects signed to contracts involving a total intended investment of over 2 trillion yuan. The conference has become a major representation of Shenzhen’s achievements of high-level opening up, high-quality economic and social development, and a world-class business environment. The conference is a major investment platform for gathering global investors and a major exchange platform for investment promotion.
An optimal business environment has made Shenzhen a popular destination for global investors. From January to October 2022, the actual use of FDI in Shenzhen was nearly 10 billion USD, and foreign investor confidence has been strengthened. Up until now, a total of over 170 countries and regions have invested in Shenzhen.
Mr. Siddharth Chatterjee, the UN Resident Coordinator in China, stated, “The experience of Shenzhen, as a hub for investment and being ranked as a top city of Chinese mainland for overall economic competitiveness by the Chinese Academy of Social Sciences, can serve as an example both for other cities within China that seek to attract more foreign investment, and for cities and countries around the world.”
SOURCE The Commerce Bureau of Shenzhen Municipality
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