Indonesia received 654.4 trillion rupiah worth of FDI last year, or equivalent to $45.6 billion in the ministry's official calculation, which assumes an exchange rate of 14,350 to the dollar.
The data excludes investment in the banking and oil and gas sectors.
The resource-rich country has been trying to capitalise on its abundant nickel reserves to develop battery and electric vehicle industries at home.
Once a major exporter of nickel ore, it stopped outbound shipments of the raw material in 2020 to make sure investors have enough for domestic processing.
FDI in base metal reached $11 billion last year, the biggest recipient of foreign investment. The mining industry came second with $5.1 billion.
The biggest sources were Singapore, China and Hong Kong.
Total investment, including from domestic sources, reached 1,207.2 trillion rupiah ($81.02 billion), the ministry said, roughly in line with the government's target.
FDI in the final quarter of last year was up 43.3% on an annual basis, amounting to 175.2 trillion rupiah in rupiah terms, or $12.2 billion in the official U.S. dollar equivalent.
($1 = 14,900.0000 rupiah)
(Reporting by Stefanno Sulaiman and Gayatri Suroyo; Editing by Martin Petty)
