Indonesia: Tremendous foreign investment after election

Jakarta – Indonesia has recorded tremendous figure of foreign investment in share trading portfolio up to 55.5 trillion rupiah (about 4.75 billion U.S. dollars) following conclusion of a peaceful election, a senior official overseeing national stock exchange said here on Monday.

Speaking at a post-election economy outlook workshop, Indonesian Stock Exchange President Director Ito Warsito said that the tremendous foreign investment figure was recorded as of mid last month after posting minus 20.6 trillion rupiah throughout last year.

He said that in total, the overall share trading recorded as of mid last month stood at 100 trillion rupiah.

He estimated that such positive trend in share portfolio would continue until the end of the year.

“The event of the new president’s installment would spur foreign investments. It would even grow after the new government outlines its policies,” Ito said.

He pointed out that the positive trend would endure should the new government be capable to secure the nation’s stability, creating security for foreign investors to invest in the country.

Indonesia is now expecting results of legal proceeding in the Constitution Court (MK) on appeal filed in by the losing president candidate Prabowo Subianto against the General Election Commission (KPU) for massive, structured and systematic frauds that he claimed had occurred in the July 9 election.

The KPU had qualified Jakarta Governor Joko Widodo as the winner of the election. The MK is scheduled to issue its ruling regarding the legal proceeding no later than Aug. 22. Source: Xinhua