Jakarta. Indonesia announced Thursday that it had attracted Rp 900.9 trillion ($53 billion) in foreign direct investment or FDI throughout 2025, as Singapore clings onto the top position.

Indonesia amassed $17.4 billion worth of Singaporean FDI in 2025, followed by Hong Kong at $10.6 billion. China was Indonesia’s third-biggest source of FDI over the said period, investing $7.5 billion in Southeast Asia’s biggest economy. Close neighbor Malaysia put $4.5 billion into Indonesia, while Japan contributed $3.1 billion to the FDI realization.

“More or less $5.1 billion of that [$17.4 billion] Singaporean FDI went to the basic metal, metal goods, and non-machinery sector. Some $2.5 billion was in other services,” Investment Minister Rosan Roeslani told a press conference in Jakarta.

Indonesia wants to move up the value chain by turning its abundant natural resources into more sophisticated goods. And Singapore is the top foreign investor that is aiding this ambitious downstream policy. The island country invested $7.9 billion in Indonesia’s downstream industry last year, seconded by Hong Kong at $6.2 billion. China accounted for the $4.8 billion that flowed into this industrial value creation, while Malaysia entered the top 4 at $3 billion.

“American investors put $1.6 billion into our downstream industry last year,” Rosan said. 

West Java is the most popular among foreign investors, amassing $9.2 billion in FDI throughout last year. Followed by Central Sulawesi ($7.4 billion) and the capital Jakarta ($6 billion). 

In 2025, Indonesia recorded approximately Rp 1.9 quadrillion in combined investments, including those coming from the investors at home. Domestic investments stood at around Rp 1 quadrillion over the said period. 

Indonesia already has a bilateral investment treaty with Singapore, with the most updated document entering into force in March 2021. The accord grants investors of both economies access to better legal protection, including access to international arbitration.