Jokowi, Hyundai Officials Discuss Automotive Industry

Jakarta: President Joko 'Jokowi' Widodo received the leaders of South Korea's Hyundai Motor Group at the Presidential Palace Complex in Central Jakarta on Thursday.
 
According to reports, the delegation is composed of Presiden Jokowi menerima Executive Vice Chairman Chung Euisun, President Kong Young Woon, Executive Vice President ark Hong-Jae and Senior Vice President Lee Youngtack.
 
During the meeting, President Jokowi was accompanied by Industry Minister Airlangga Hartarto, Finance Minister Sri Mulyani, Cabinet Secretary Pramono Anung and Investment Coordinating Board (BKPM) head Thomas Lembong.

"They discussed about the future of automative industry, including electric vehicles, fuel cell vehicles, autonomous vehicles and even flying cars," Airlangga told reporters after the meeting.
 
Airlangga said that Hyundai is interested to invest in Indonesia. He explained that the global automative company is still preparing the investment plan. 
 
Investment realization reached Rp195.1 trillion in the first quarter of 2019. It grew by 5.3 percent compared to the same period in 2018.
 
According to the Investment Coordinating Board (BKPM), Domestic Direct Investment (DDI) reached Rp 87.2 Trillion. Compared to 2018, DDI increased by 14.1 percent last quarter.
 
In the meantime, Foreign Direct Investment (FDI) reached Rp 107.9 Trillion. Compared to the previous year, FDI decreased by 0.9 percent last quarter.  
 
Last quarter's investment realization contributed 24.6 percent to this year's total investment realization target of Rp 792.0 Trillion. It also created 235,401 new jobs.
 
The top five sectors of Investment realization (DDI and FDI) are: Transportation, Warehouse, and Telecommunication (Rp 37.3 trillion, 19.1 percent), Electricity, Gas, and Water Supply (Rp 33.2 trillion, 17.0 percent), Construction (Rp 19.5 trillion, 10.0 percent), Housing, Industrial Estate, and Office Building (Rp 18.8 trillion, 9.7 percent), and Mining (Rp 15.1 trillion, 7.7 percent).
 
The top five investment country of origin are: Singapore (US$ 1.7 billion, 24.0 percent), China (US$ 1.2 billion, 16.1 percent); Japan (US$ 1.1 billion, 15.8 percent); Malaysia (US$ 0.7 billion, 9.8 percent), and Hong Kong (US$ 0.6 billion, 8.1 percent).
 
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