Bahlil: Investment Realization In The First Quarter Of 2024 Reaches IDR 401.5 Trillion

Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia. (Photo: Mery Handayani/VOI)

JAKARTA - The Ministry of Investment/Investment Coordinating Agency (BKPM) noted that investment realization in the first quarter of 2024 had reached IDR 401.5 trillion.

This figure is equivalent to 24.3 percent of the target set by President Joko Widodo (Jokowi) of IDR 1,650 trillion.

Investment Minister Bahlil Lahadalia said the investment target set by President Jokowi this year was the highest figure in Indonesia's history.

"I report that our investment target in 2024 is indeed quite high," he said at a press conference, at the Office of the Ministry of Investment, Jakarta, Monday, April 29.

Still, said Bahlil, the investment target set by Jokowi is IDR 1,650 trillion.

This amount is much higher than the one set in the RPJM, which is Rp1,239.3 trillion.

What happened? the realization of our investment in the first quarter was IDR 401.5 trillion. QoQ grew compared to the 2023 IV quarter-year growth of around 9.8 percent. And compared to the first half of 2023 year on year it grew 22.1 percent," he explained.

Furthermore, Bahlil said, this achievement was only 32.4 percent of the strategic plan target (restra) in 2024, which was IDR 1,239.3 trillion.

"But if we want to withdraw from the president's (target) now the realization has reached 24.3 percent. So from the target of IDR 1,650 trillion, it has reached 24.3 percent," he said.

The details, continued Bahlil, are the realization of foreign investment (PMA) of Rp. 204.4 trillion, or grew 15.5 percent yoy.

He said, PMA is still the largest contributor to investment realization in the January to March period this year with a contribution of 50.9 percent.

"Alhamdulillah, this is a manifestation of global trust in Indonesia under the leadership of President Jokowi," he explained.

"Imagine the world in uncertain economic conditions, there is no certainty, but our foreign direct investment is still maintained," he continued.

Bahlil said the realization of domestic investment (PMDN) amounted to Rp197.1 trillion, or grew to 29.7 percent on an annual basis (yoy).

"Then our PMDN (contributed) 49.1 percent (of total investment realization). Friends/friends of investors from within the country are no less aggressive to be able to accelerate the realization of this investment," he explained.

The realization of investment outside Java reached IDR 201.0 trillion or equivalent to 50.1 percent.

Meanwhile, Java's investment realization reached IDR 200.5 trillion, equivalent to 49.9 percent of total investment realization.