Firms pause to gauge Prabowo's policy direction amid geopolitical uncertainty
Indonesian President Prabowo Subianto waves as he walks with Malaysian Prime Minister Anwar Ibrahim during their meeting at Merdeka Palace in Jakarta, on July 29. © AP
JAKARTA -- Foreign direct investment into Indonesia shrank 6.95% in the second quarter from a year earlier to 202.2 trillion rupiah ($12.3 billion), the investment ministry announced on Tuesday, the biggest such drop in five years.
Rising geopolitical tensions have eroded appetite for investment in the country, Investment Minister Rosan Roeslani told a news conference on Tuesday. "[Geopolitical conflicts] are increasing and at the same time there are many policies (that hinder it), including the U.S. which is withdrawing its investment in the country," he told reporters.
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