April 29, 2021 | Invest Indonesia

Investment minister unveils strategy to achieve Rp900-trillion target

Source from: Antara News

Original News HERE

Investment Minister, concurrently Indonesian Investment Coordinating Board (BKPM) Chairman, Bahlil Lahadalia drew attention to a strategy to increase the investment target up to Rp900 trillion for 2021 and Rp5,000 trillion in 2024..

“The first one is the investment of around Rp708 trillion that we had earlier allocated into the stalled investment. Today, it can be realized to the tune of Rp517 trillion. It will be completed soon,” the minister stated at the Central Development Coordination Meeting here on Thursday.

The investment value of Rp517 trillion to be realized soon, comprises some already in the construction process and some in the preparation process.

Shedding lights on efforts to conduct economic transformation, the ministry will channel efforts to increase added value with downstream orientation by formulating five points.

“The first one is investment in the health sector. We know that almost all of our medical devices and medicinal raw materials are imported,” he affirmed.

The other sectors to become investment priorities are the automotive sector, followed by the mining, infrastructure, and new and renewable energy sectors.

The minister ensured the government’s continued efforts to expedite licensing to offer better services to domestic and foreign investors.

“BKPM’s commitment is that we will not slow down licensing since it is akin to holding back jobs and potential state revenue, as 76 percent of the country’s revenue comes from state taxes,” he pointed out.

Furthermore, slowing down business licenses is also the same as holding back the rate of national economic growth and holding back the growth of Ease of Doing Business (EoDB). President Jokowi targets Indonesia’s EODB ranking to reach 40th in 2024 as compared to 73rd currently.

“This is tough work for us. Hence, let us build together the optimism that is essential in this era of uncertainty. The BKPM is always ready to run and serve the community in order to encourage investment,” the minister remarked.

Reporter: Kuntum Khaira Riswan, Katriana
Editor: Suharto