Indonesia's courtship of foreign investors may get a fillip from Chinese and Japanese money seeking a fresh home.

"It's obviously in Indonesia's interest for there to be healthy and strong competition in their infrastructure pipeline," James Cameron, head of project and export finance for the Asia Pacific at HSBC (London Stock Exchange: HSBA-GB), said earlier this month. "If you look at the size of the infrastructure need within Indonesia, there's going to be a lot of opportunity."

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Over the past month, Indonesian President Joko Widodo traveled to Japan and China to woo fresh foreign investment, in a drive likely getting a boost from a ready supply of funds in both countries.

China, Japan to invest

Indonesia is set to benefit from China's drive to internationalize its currency, the yuan, CIMB (Kuala Lumpur Stock Exchange: CIMB-MY) said in a note last week.

"The warming up of Sino-Indonesian relationship, Indonesia's geopolitical significance and robust fundamentals are supportive," CIMB said. It noted two factors that are likely to boost flows: The Chinese Insurance Regulatory Commission's overseas investment rules now include Indonesia and the creation of the Asia Infrastructure Investment Bank (AIIB) -- with Indonesia as a prospective founding member.

"The investment inflow could either through government bonds or infra projects," CIMB said.

Japanese funds are also targeting Indonesia, driven in large part by the Bank of Japan's massive monetary stimulus, HSBC said earlier this month. The central bank's purchases of Japanese government bonds (JGBs) is keeping yields low within the country as well as weighing on the yen, it said.

Indonesia already receives significant flows from Japan, with preliminary 2014 data from Japan External Trade Organization, or Jetro, showing $4.54 billion in foreign direct investment (FDI) into the country, or around 3.8 percent of Japan's total outbound FDI.

But HSBC expects a pickup, particularly in M&A flows, noting that Japan is already the third-largest outbound M&A market globally after the U.S. and the U.K., with companies often offering hefty premiums to ensure deals are secured.

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Earlier this year, Sumitomo (Tokyo Stock Exchange: 8053.T-JP) Corp. boosted its stake in Indonesia's Bank Tabungan Pensiunan Nasional to 20 percent, paying around $470 million for an additional 17.5 percent stake of the lender.