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Indonesia's Jan-Oct foreign direct investment up 54 pct

Mon, 1st Dec 2008 10:32

JAKARTA, Dec 1 (Reuters) - Foreign direct investment in Indonesia jumped 54 percent to $13.95 billion for the first 10 months from a year ago, driven by the telecommunications sector, official data showed on Monday.

The FDI figure for January-October was more than double the government's total 2008 target.

But the state investment agency (BKPM) said in a document obtained by Reuters that domestic investment fell 52 percent to 16 trillion rupiah ($1.34 billion) in the same period, from a year ago, with the food-related sector accounting for the largest portion.

The agency did not give further details. It has refused to release investment data on a regular monthly basis since early this year.

($1=11,950 rupiah)

((Editing by Sara Webb) Keywords: FINANCIAL INDONESIA/INVESTMENT

(ga.arka@thomsonreuters.com; Reuters Messaging: ga.arka.reuters.com@reuters.net; +62 21 384 6364 ext 911)

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