Update COVID-19 in Indonesia: 1,769,940 confirmed infections, 49,205 deaths (22 May 2021)
7 June 2021 (closed)
USD/IDR (14,146) -6.00 -0.04%
EUR/IDR (17,335) +57.05 +0.33%
Jakarta Composite Index (6,069.94) +4.77 +0.08%
While the COVID-19 crisis has seriously disrupted consumption, production, trade, and investment around the globe, this crisis apparently has only a limited impact on direct investment realization in Indonesia. After experiencing a relatively modest hiccup only in Q2-2020, investment recovered to record high levels in subsequent quarters. Does that make sense? What is going on here?
The Investment Coordinating Board (BKPM), which was promoted into a ministry in April 2021, stated that total direct investment into Indonesia reached IDR 219.7 trillion (approx. USD $15.1 billion) in the first quarter of 2021, up 4.3 percent from Q1-2020 (when, remarkably, the COVID-19 crisis was not fully felt yet in society).
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