Jakarta – Approved foreign direct investment in Indonesia fell 66 percent in the January-February period to US$805.4 million from $2.4 billion a year earlier, Bisnis Indonesia reports.

In the same period, the value of planned local investment rose 19 percent to Rp 3.07 trillion from Rp 2.58 trillion, the report says, citing data from the official Investment Board.

Analysts had expected total investment in Indonesia to slow down due to the parliamentary elections in April and presidential polls in July.

The report says Japan was at the top of the approved foreign direct investment list for the first two months of the year, with total planned investment of $401.3 million, followed by the UK with $157 million, Brazil with $70.6 million, and Thailand with $32 million.