Russia-Ukraine Conflict Still Ongoing, Bahlil Still Optimistic To Set An Investment Target Of IDR 1,200 Trillion: These 2 Countries Are Not The Top 10 Investors In Indonesia

JAKARTA - Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia is still optimistic that the investment target for 2022 of IDR 1,200 trillion will be achieved in the midst of the Russia-Ukraine war that continues to rage.

"In our view, regarding the investment sector, apart from the financial sector and upstream oil and gas, for this year we are still optimistic to achieve the target of Rp. 1,200 trillion because Russia and Ukraine are not investment destinations in Indonesia, which are in the top 10," he said at the conference. the press quoted Antara, Monday, April 26.

Nevertheless, Bahlil acknowledged that the war between Russia and Ukraine had a big impact in terms of inflation and trade, especially because of Indonesia's dependence on certain basic commodities.

The former chairman of Hipmi revealed that Russia is the world's largest oil exporter. Meanwhile, Indonesia is also still dependent on wheat imports from Ukraine.

The two countries in conflict are also suppliers of raw materials for Indonesian fertilizers.

"If the price of fertilizer increases because the raw materials increase, it will have an impact on the cost of production of farmers. In the end, the price of commodities produced by farmers will rise. Then inflation will occur. This is something we both have to think about," he said.

Therefore, continued Bahlil, it is very natural that President Jokowi always encourages investment in the food sector.

"Why? Because the country that will win resilience in the face of the Covid-19 pandemic and the Ukraine-Russia war is the one with power in oil and gas (oil and gas) and food," he said.