Minister Reveals Investment Realization in Q1 2023

Tempo are reporting on investment realization targets for Q1 2023 as released by Bahlil Lahadalia, Investment Minister and Head of the Investment Coordinating Board (BKPM) who said that the investment target noted in the Medium Term Development Plan (RPJM) is actually IDR 1,099.8-trillion, while the president’s target was IDR 1,400-trillion.

“We have realized 23.5-percent of IDR 1,400-trillion in the first quarter of 2023 or IDR 328.9-trillion,” Bahlil said in a working meeting with House of Representatives (DPR) Commission VI in the Parliament Building Senayan, Central Jakarta, on Friday, June 9, 2023.

Tempo report that Bahlil explained foreign direct investment (FDI) amounted to 53.8-percent and domestic investment was 46.2-percent. “So foreign and domestic investment grew 20.2-percent and 12.4-percent Year on Year (YoY), respectively.”

In addition, the investment in Java and outside Java was recorded at 52.6-percent and 47.4-percent, with direct employment of 384,892-people, say Tempo. “The investment outside Java has been more evenly distributed from the third quarter of 2020 until the first quarter of 2023,” he outlined.

According to Bahlil, this is in line with President Jokowi’s instructions to encourage investment not only in Java but also outside Java. As said by the President, developing Indonesia should not be Java-centric, but Indonesia-centric.

“Alhamdulillah, we are still working hard [for this], and this is also the result of outreach [held by] Commission VI to all its electoral districts. This cannot be tricked that investment in Java and outside Java is now evenly distributed,” Bahlil said.

Source: Tempo

Photo by Alesia Kozikon Pexels

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