The Adem 2024 Election Is A Positive Signal For Investment Of IDR 1,650 Trillion

The implementation of the 2024 General Election which went smoothly and peacefully brought fresh air to investment in Indonesia which was targeted at IDR 1,650 trillion. (Between)

JAKARTA - Economic observer Esther Sri Astuti said the 2024 General Election (Pemilu) which has been running peacefully has become a breath of fresh air that supports the government's target to achieve the entry of domestic investment of IDR 1,650 trillion in 2024.

"Conducive election is a positive signal for business development in the country for now," said the Executive Director of the Institute for Development of Economics and Finance (Indef), as quoted by Antara in Jakarta, Saturday (2/3).

After the election, market players and investors also responded positively to the quick tally results. This is shown by the Composite Stock Price Index (JCI) which rose after the election.

From early 2024 to February 16, 2024, the Composite Stock Price Index (JCI) strengthened 0.86 percent year to date (ytd) to the level of 7,335.55.

"Yesterday I saw that in the market news it responded positively, maybe because there was an assessment that there was sustainable certainty, because the JCI value did not go up, meaning the market response was positive," he said again.

The quick count results also show the possibility of one round of elections, so that it will shorten investor concerns to start investing in the country.

After the Simultaneous Election on February 14, 2024, the pairs of Presidential and Vice Presidential Candidates Prabowo Subianto and Gibran Rakabuming Raka took the lead based on the quick count of a number of survey institutions.

Esther hopes that post-election conducive conditions can also be maintained in order to continue economic growth and improve the nation's welfare.

"We hope that it will continue to be peaceful, in the future the response will continue to be positive and the country of Indonesia will be more prosperous," he said.

After the inauguration of the new President and Vice President of the Republic of Indonesia in October 2024, investors will begin to invest in Indonesia. Currently, market participants continue to observe the domestic conditions after the election is peaceful, and it is hoped that political stability will continue to be maintained.

Previously, the Ministry of Investment/Investment Coordinating Agency (BKPM) noted that investment realization throughout 2023 reached IDR 1,418.9 trillion, or exceeded the target set by President Joko Widodo (Jokowi) of IDR 1,400 trillion (101.3 percent) with a total workforce absorption of 1,823,543 people.

Meanwhile, Coordinating Minister for Economic Affairs Airlangga Hartarto said the government is targeting investment inflows in 2024 to reach IDR 1,650 trillion.