Amid the decline in investment in the Indonesian textile sector, foreign investors from South Korea and Taiwan are still loyal to invest in this sector. The Director General of the Chemical, Pharmaceutical and Textile Industry (IKFT) of the Ministry of Industry Ignatius Warsito said that in the first quarter of 2023 the TPT sector was still being looked at by foreign investors, with a comparison of foreign investment (PMA) which was more dominant than domestic investment (PMDN). The majority of foreign investors in the textile sector come from South Korea and Taiwan.

"In the first quarter of 2023, the FDI will actually increase in textile investment," said Warsito, some time ago.

Looking at the investment data on the BKPM (Investment Coordinating Board) National Single Window for Investment (NSWI) website, textile FDI in the first quarter of 2023 was recorded at US$74.34 million or the equivalent of IDR 1.10 trillion (at an exchange rate of IDR 14,892). . Meanwhile, PMDN was recorded at IDR 2.57 trillion.

This US$74.34 million FDI figure increased by 84.13 percent from US$40.35 million in the same period last year. Meanwhile, when compared to the previous quarter or quarter IV/2022, the FDI figure for the textile industry was also observed to have increased by 81.49 percent, from the previous US$40.96 million.

Based on the same data, it is known that South Korea is the biggest investor investing in Indonesia for textiles. In the first quarter of 2023, South Korea invested US$28.6 million in 125 projects.

Followed by Taiwan with FDI of US$13.96 million in 27 projects, India with five projects with a total capital of US$11.28 million.

Then Hong Kong (People's Republic of China/PRC) amounted to US$6.28 million with 35 projects, Japan with 58 projects totaling US$5.93 million, China with 52 projects with an investment of 5.27 million.

Then neighboring Singapore with 43 projects worth US$1.61 million, British Virgin Islands with nine projects worth US$518,500, Anguilla one project with US$481,200.

In addition, there are the Netherlands windmill countries with a total of two projects of US$188,400, Belgium with three projects of US$70,500, Qatar with one project with a figure of US$60,600, as well as Seychelles four projects of US$46,000. There is also Italy one project worth US$14,000, Germany two projects US$1,700, Pakistan one project, Afghanistan one project, Liberia four projects, Panama one project, Brunei Darussalam two projects, Cayman Islands, Turkey and Malaysia one project.