Formulate One Round Election, Bahlil Pede Investment Target Reaches IDR 1,650 Trillion In 2024

JAKARTA - Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia is optimistic that the investment target in 2024 of IDR 1,650 trillion can be achieved by looking at improving domestic and global conditions.

According to Bahlil, domestic conditions have shown conducive after the general election (election) and presidential election (pilpres). In fact, he believes that the 2024 election will run in one round.

"At the beginning yesterday I couldn't decide whether it would be achieved or not depending on the political conditions. And thank God we have the presidential election, hopefully what the KPU decides can only make one round. Because we see the difference is very far away, but we are waiting for the KPU's decision, but we dare to do the formulation," he said at a press conference at the Jakarta Investment Ministry Office, Monday, March 18, 2024.

With this, Bahlil is optimistic that looking at the current conducive dynamics of elections will make investors more confident in economic conditions in Indonesia.

"Thank God, we are grateful that our election has gone through together with various kinds of dynamics pluses and minuses and it has almost been confirmed that in 1-2 days there has been a decision from the KPU," he said.

Bahlil said he was optimistic that the investment target in 2024 of IDR 1,650 trillion could be achieved. However, with a note seeing the development of the global economy which is currently facing challenges.

In addition, Bahlil conveyed that the achievement of foreign capital participation (PMA) in 2024 will be in the range of 52 percent.

"Even though the global economy has not fully recovered, because the development of geopoliticals is still unstable, especially tensions in the middle east and Ukraine-Russia there are no signs of recovery, many countries have experienced a recession, this is also a factor of obstacles that we will face in the future," he said.

Bahlil said that he was launching measurable downstreaming, especially in the mining commodity sector, such as nickel, bauxite, copper, and tin.

On this occasion, Bahlil also conveyed that investment realization in 2023 reached IDR 1,407 trillion from the set target of IDR 1,400 trillion.

"After passing the 2023 investment with a target of around Rp. 1,407 trillion, from the target of Rp. 1,400 trillion, then where I repeat our PMA of 52.4 percent and PMDN of 47.6 percent for 2023, and able to create jobs of 1.8 million people," he concluded.