Indonesia attracted 392.7 trillion IDR (27.86 billion USD) in foreign direct investment (FDI) in 2018, down from the 430.5 trillion IDR lured in the previous year, according to the country’s investment coordinating board.

A corner of Indonesia's Jakarta capital city (Source: Internet)

Chairman of the board Thomas Trikasih Lembong said that the lack of execution of policies and obstacles abroad are factored in slowing down investment inflows.

He showed his belief in brighter prospects for FDI attraction this year, especially after the presidential and parliamentary polls in April.

President Joko Widodo has undertaken a massive improvement in rules, procedures and incentives. The government also plans to relax restriction on foreign ownership in 49 business sectors, a move which aims to lure more foreign investment to park into the country.

The Southeast Asia's biggest economy is expected to expand 5.17 to 5.2%  in 2018 after growing 5.07%  in 2017.

(Source: VNA)