Investment Realization Quarter II-2024 IDR 428.4 Trillion, Growing 22.5 Percent

Investment Minister Bahlil Lahadalia (Photo: Mery Handayani/VOI)

JAKARTA - The Ministry of Investment/BKPM noted that the realization of investment in the second quarter of 2024 had reached IDR 428.4 trillion from the target set by President Joko Widodo (Jokowi) of IDR 1,650 trillion.

Investment Minister Bahlil Lahadalia said the realization of this investment rose 6.7 percent from the previous quarter. Meanwhile, on an annual basis, it rose 22.7 percent compared to the second quarter of 2023.

"In order to maintain our economic growth above 5 percent, we must reach Rp1,650 trillion. If we look at the second quarter, the total incoming investment is Rp428.4 trillion," he said at a press conference, at the Ministry of Investment office, Jakarta, Monday, July 29.

With the realization of this investment, the Ministry of Investment noted that as many as 677,623 workers had been absorbed during the second quarter of 2024.

Referring to data from the Ministry of Investment, during that period the most disbursed was foreign investment (PMA) with a nominal value of IDR 217.3 trillion or 50.7 percent. This figure is up 6.3 percent from the previous quarter and up 16.6 percent from the second quarter of 2023.

Meanwhile, domestic investment (PMDN), samnung Bahlil, reached IDR 211.1 trillion, an increase of 7.1 percent from the first quarter of 2024 and an increase of 29.1 percent on an annual basis. PMDN portion reached 49.3 percent.

"The composition between PMA and PMDN, the PMA is 50.7 percent, thank God it's still good and the PMDN is still 49.3 percent," he said.

Furthermore, Bahlil explained that investment realization in the second quarter of 2024 was mostly targeted in areas outside Java. The portion reaches 50.2 percent outside Java and 49.8 percent in Java.

In detail, investment outside Java reached IDR 215.2 trillion. This figure is up 7.1 percent from the previous quarter and an increase of 18.3 percent from the same period the previous year.

Meanwhile, continued Bahlil, investment in Java reached IDR 213.2 trillion. This figure is up 6.3 percent from the first quarter of 2024 and an increase of 27.1 percent from the second quarter of 2023.

"Java grew very large by 27.1 percent compared to Outside Java, which grew 18.3 percent. Usually in the previous quarters, outside Java, the growth was bigger than in Java," Bahlil explained.