Latest news with #Rosan
The Star
30-04-2025
- Business
- The Star
Foreign investment rises 12% in first quarter
Still growing: A major construction project in Jakarta's business district. Singapore was the source of the highest amount of FDI in Indonesia in the first quarter. — AFP JAKARTA: Indonesia has seen respectable growth in foreign direct investment (FDI) in the first quarter of this year as realised funding reached a quarter of the government's full-year target, while domestic investment grew even faster. Investment and Downstream Minister Rosan Roeslani revealed in a press briefing on Tuesday that the first-quarter FDI amounted to 230.4 trillion rupiah or about US$13.7bil, which marks a 12% year-on-year (y-o-y) increase. 'This was one of the very, very good indicators, very, very positive amid – what we all could see – the increasing geopolitical and geo-economic tensions. But, we see that the appetite of investors, be they foreign or domestic, to invest in Indonesia keeps increasing,' said Rosan. He pointed out that the composition between domestic and foreign investment in the first quarter was unusual in that the domestic investment of 234.8 trillion rupiah outstripped FDI. Rosan argued that this was not because FDI had slowed down, as in fact it had risen, but because the growth of domestic investment at 19.1% y-o-y outpaced the growth of FDI thanks to Indonesians pouring lots of funds into infrastructure projects and real estate. Total investment logged in the first quarter was 465 trillion rupiah, which marks a 15.9% increase from the first quarter of last year. That figure amounts to 24.4% of this year's investment target of 1.9 quadrillion rupiah, which Rosan said last week was on track with the target laid down by the National Development Planning Agency. The largest chunk of the investment went to the metals sector, followed by transportation, mining, other services and housing, in that order. With US$4.6bil coming in from Singapore in the first quarter, the city state was once again the main source of FDI, which Rosan attributed to its status as a financial hub, meaning the funds could have originated from any country but was routed through Singapore. China followed with US$4bil, then Malaysia with US$1bil and Japan with roughly the same amount. Malaysia has only recently become a top-ranking investor to Indonesia. This was owed largely to the establishment of joint ventures, Rosan explained, without elaborating. The minister also addressed South Korean LG Energy Solution's recent announcement on withdrawing from a major battery project in Indonesia but noted that the company remained invested in the archipelago through other projects. He explained that the company had backed down from three investment commitments but had realised a US$1.1bil investment plan in another battery-industry project and was looking to expand that business by pouring in an extra US$1.7bil. China's Zhejiang Huayou Cobalt is slated to replace LG Energy Solution as the lead investor in Project Titan, a proposed end-to-end production chain from nickel processing to battery-cell manufacturing meant to become the backbone of the country's battery ecosystem. Rosan said he had met and talked with Huayou and would hold follow-up meetings in May. The minister expressed confidence that Huayou's investment plan would be realised 'very swiftly', before explaining that the original goal remained the same but that the Chinese company might bring in more advanced technology. He also revealed that Apple had started land clearing to begin its investment in Batam, Riau Islands, and said the US-tech company might bring more foreign capital to Indonesian soil than planned. Rosan said he had talked with three Apple vendors, one of whom happened to be Huayou. — The Jakarta Post/ANN
Malaysia Sun
29-04-2025
- Business
- Malaysia Sun
Indonesia's foreign direct investment grows 12.7 pct in Q1 2025
JAKARTA, April 29 (Xinhua) -- Foreign direct investment (FDI) in Indonesia grew by 12.7 percent year-on-year to 230.4 trillion rupiahs (13.8 billion U.S. dollars) in the first quarter of 2025, Investment and Downstreaming Minister Rosan Roeslani announced on Tuesday. "Foreign direct investment continued to rise," the minister said during a press conference at his office, referring to the January-March period. Rosan noted that Singapore was the most significant contributor to FDI growth in the first quarter, with investments worth 4.6 billion U.S. dollars, followed by China's Hong Kong (2.2 billion U.S. dollars), China (1.8 billion U.S. dollars), Malaysia (1.0 billion U.S. dollars), and the United States (1.0 billion U.S. dollars). He attributed the FDI expansion to increased investments in key sectors, including the basic metal industry, metal goods, machinery and equipment, transportation, telecommunications, warehousing, mining, other services, housing, and industrial and office areas.
Malaysia Sun
24-04-2025
- Business
- Malaysia Sun
Indonesia's investment realization up 15.9 pct in Q1 2025
JAKARTA, April 24 (Xinhua) -- Indonesia recorded an investment realization of 456.2 trillion rupiahs (around 27 billion U.S. dollars) in the first quarter of 2025, marking a 15.9 percent year-on-year increase from 23.8 billion dollars, according to Rosan Roeslani, minister of investment and downstreaming. "This first quarter realization accounts for 24.4 percent of the 2025 target of 1,905.6 trillion rupiahs (112.8 billion dollars)," said Rosan at a press conference on Wednesday. The investment consisted of 49.5 percent foreign direct investment and 50.5 percent domestic investment. Five Asian countries and regions dominated the investment inflows, with Singapore leading at 4.6 billion dollars, followed by China's Hong Kong at 2.2 billion dollars, China at 1.8 billion dollars, and Malaysia and Japan with 1 billion dollars each. The most attractive sectors for investors were basic metal industries, transportation, mining, services, and industrial or office zones.
The Star
23-04-2025
- Business
- The Star
Indonesia says China's Huayou to replace LGES in EV battery project
Indonesia's energy minister Bahlil Lahadalia gestures while delivering his speech during a signing ceremony for a Memorandum of Understanding (MoU) concerning renewable and clean energy and energy conservation, in Jakarta, Indonesia April 21, 2025. - Photo: Reuters file JAKARTA: China's Zhejiang Huayou Cobalt is replacing South Korea's LG Energy Solution as a strategic investor in a multibillion-dollar project to build an electric vehicle battery joint venture in Indonesia, officials said on Wednesday (April 23). The South Korean company, which was part of a consortium that signed a 142 trillion rupiah ($8.4 billion) "Grand Project" in 2020, announced its withdrawal from the project this week, citing factors including market conditions and the investment environment. Energy and Mineral Resources Minister Bahlil Lahadalia said LG Energy Solution's decision would not significantly affect the project, which aims to establish a local electric vehicle battery value chain in Indonesia. "Changes only occur at the investor level, where LG no longer continue its involvement... and has been replaced by a strategic partner from China, namely Huayou," Bahlil said in a statement. "Nothing has changed from the initial goal, namely making Indonesia as the center of the world's electric vehicle industry." Indonesia, home to the world's largest nickel reserve, has been seeking to position itself as a key player in the global electric vehicle supply chain by leveraging its vast reserve of the critical mineral to attract investments. The government decided not to move forward with the South Korean company in the project due to the long negotiation process with the firm to realise its investment, Investment Minister Rosan Roeslani said. Rosan cited Huayou's familiarity with Indonesia as one of the reasons why the government chose the company to succeed LG Energy Solution. "Huayou had invested in Indonesia," Rosan said. "They have sources to develop the industry going forward." LG Energy Solution said in a statement on Tuesday that it will continue to explore "various avenues of collaboration" with the Indonesian government, including in its battery joint venture. HLI Green Power, a joint venture between LG Energy Solution and Hyundai Motor Group, operates Indonesia's first electric vehicle battery plant, which was launched in 2024 with a production capacity of up to 10 Gigawatt hours (GWh) of cells annually. - AFP
Reuters
23-04-2025
- Business
- Reuters
Indonesia's Q1 FDI up 12.7% y/y to nearly $14 bln, minister says
JAKARTA, April 23 (Reuters) - Indonesia's foreign direct investment in the first three months of 2025 reached 230.4 trillion rupiah ($13.67 billion), up around 12.7% year-on-year in rupiah terms, investment minister Rosan Roeslani said on Wednesday. While the growth pace remained solid, it was the slowest in five quarters, according to LSEG data. The FDI data excludes investment in the financial and oil and gas sectors. Total investment, including from domestic investors, stood at 465.2 trillion rupiah, up 15.9% year-on-year, creating more than 594,000 jobs. "This shows that the international world and domestic investors are still confident to invest, because an investment is a long term commitment," Rosan told a press conference, adding global market uncertainty due to geopolitical and trade tensions were influencing investment decisions. Southeast Asia's largest economy has seen rising foreign investor interests in the mining and metal smelting industries after it banned exports of nickel ore in 2020. But news of the exit of South Korea's LG Energy Solution from a major electric vehicle battery project worth more than $8 billion has grabbed headlines this week. LGES said on Monday it has decided to withdraw from the project citing various factors, including market conditions and investment environment. Rosan, however, said Indonesia in January had sent a letter to LG Group executives terminating the deal because LG had taken too long to realise the project, which had been agreed in late 2020 and include investments across the EV battery supply chain. China's Zhejiang Huayou Cobalt ( opens new tab will replace LGES as a strategic investor in the project, Rosan said, echoing an earlier statement by Indonesia's energy minister Bahlil Lahadalia. Huayou's Indonesian unit did not respond to request for comment. The biggest sources of FDI in the first quarter were Singapore, Hong Kong, China, Malaysia and Japan, Rosan said. ($1 = 16,860.0000 rupiah)
