Anton Hermansyah, Jakarta – Despite a global economic slowdown, Indonesia managed to see investment in the industrial sector increase by 41.6 percent year-on-year (yoy) to US$18.7 billion during the first nine months of the year, a minister said on Thursday.

Industry Minister Airlangga Hartarto said that foreign investment still dominated investment in the industrial sector, with $13.09 billion in foreign money coming into the sector from January to September, a 53.6 percent increase compared to the figure in the same period last year.

Domestic investment, meanwhile, increased by 19.6 percent yoy to Rp 75.41 trillion ($4.69 billion). "Investment is a growth engine for the sector," Airlangga said during the ministry's year-end press conference.

Last year, Indonesia saw foreign investment in the industrial sector drop by 25.8 percent to $11.76 billion compared to 2014. (hwa)

Source: http://www.thejakartapost.com/news/2016/12/22/industrial-investment-regains-pace-in-2016.html