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Business trends

Indonesia suffers double-digit decline in foreign investment

Businesses pause to gauge policy direction as presidential race looms

President Joko Widodo's effort to harness foreign capital to develop Indonesia's economy could be reaching a turning point. (Photo by Rie Ishii)

JAKARTA -- Foreign direct investment in Indonesia shrank 12.9% on the year in the April-June quarter as companies wary of policy shifts ahead of the April 2019 presidential election stayed on the sidelines.

Foreign direct investment totaled 95.7 trillion rupiah ($6.56 billion), the Indonesia Investment Coordinating Board said on Tuesday. This marked the first decline in comparable data going back to 2010, according to a board official.

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