Projects in the warehouse, transportation and telecommunications sector have contributed the most to total realized investment this year at around 23.4 percent as of the first quarter, indicating that the government’s infrastructure development plan has shown progress, according to the Investment Coordinating Board (BKPM).
The sector had been one of the top five sectors for realized investment since 2016, the agency said, adding that its investment realization jumped 32 percent year-on-year (yoy) to Rp 49.3 trillion (US$3.1 billion) from January to March. The BKPM reported that total investment realization in the first quarter of the year rose 8 percent yoy to Rp 210.7 trillion.
The base metal, metal goods, non-machines and equipment sector booked the second-highest investment realization at Rp 24.5 trillion – 11.6 percent of the total realization figure – followed by the electricity, gas and water sector with Rp 18 trillion, housing, industrial districts and office space with Rp 17.8 trillion and crops, plantations and animal husbandry with Rp 17.2 trillion.
“The base metal, metal goods, non-machines and equipment industry is interesting,” the agency’s head, Bahlil Lahadalia, said as quoted in a statement on Tuesday. “One of the programs of the President Joko “Jokowi” Widodo administration is economic transformation by increasing added value. The large investment in the sector is a signal that the downstream sector is growing.”
Investment is the second-largest contributor to Indonesia’s gross domestic product after household spending.
BKPM data shows that foreign direct investment (FDI) realization in the first quarter of the year declined 9.2 percent yoy to Rp 98 trillion as the COVID-19 pandemic hit business activity around the globe, including Indonesia. The coronavirus has had a massive impact on Indonesia’s main FDI sources, such as China, Japan, Malaysia and Singapore.
Domestic investment was the primary driver of investment realization in first quarter with a yoy increase of 29.3 percent to Rp 112.7 trillion.
Previously, Bahlil said the agency was looking to pull in Rp 886.1 trillion of investment this year. However, with the global economy taking a downturn due to the pandemic, he later said an option to lower this year’s target was on the table.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
