Update COVID-19 in Indonesia: 836,718 confirmed infections, 24,343 deaths (11 January 2021)
11 January 2021 (closed)
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It came as a big surprise to us to learn that direct investment realization in Indonesia expanded in the third quarter of 2020, both compared to the same quarter one year earlier (Q3-2019) and compared to the preceding quarter (Q2-2020).
Considering the world is still in the middle of the COVID-19 crisis, we had expected the Q3-2020 numbers to be worse than in Q2-2020. However, it is indeed true that social and business restrictions were eased in most countries in the summer period (June-August) as the number of COVID-19 cases and fatalities declined. In Indonesia, however, we did not detect a decrease in COVID-19 cases and fatalities in Q3-2020; in fact they kept rising in line with expanding testing capacity, albeit the social and business restrictions across Indonesia were not as harsh as in the beginning of Q2-2020. Therefore, it is interesting to take a closer look at the data.
According to the latest data from the Investment Coordinating Board (BKPM), total direct investment realization in Indonesia (foreign direct investment plus domestic direct investment) reached IDR 209.0 trillion (approx. USD $14.4 billion) in the third quarter of 2020, up 8.9 percent from Q2-2020, and up 1.6 percent from Q3-2019.
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