Medan, N Sumatra (ANTARA) – Foreign investment inflows in North Sumatra more than doubled to Rp14.036 trillion in 2020 from Rp5.693 trillion a year earlier.
The 2020 foreign investment represented 44 percent of the total investment in the province which stood at Rp32.226 trillion last year, Chief of the North Sumatra Provincial Investment and Integrated One-Stop Licensing Office Effendy Pohan said here on Saturday.
The foreign investment mostly went to the electricity, gas and water sector at Rp10.557 trillion, the food industry at Rp1.397 trillion and the mining sector at Rp692.235 billion, he said.
Most of the foreign investment projects in 2020 are located in Tapanuli Selatan, Mandailing Natal, Deliserdang, Dairi, and Medan.
Singapore remained the biggest investor in North Sumatra with Rp10.651 trillion of investment, followed by Hongkong and China Rp1.466 trillion and Malaysia Rp790,341 billion.
“The North Sumatra Provincial Investment and Integrated One-Stop Licensing Office is optimistic that investment in North Sumatra in 2021 will further increase as the global economy begins to recover after being battered by the COVID-19 pandemic in 2020,” he said.
Source: Antara News