Jokowi Sets Investment Target Of IDR900 Trillion, Bahlil Responds Optimistically: Almost 50 Percent Has Been Realized

Investment Minister Bahlil Lahadalia together with Indonesian President Joko Widodo (Jokowi). (Photo: Instagram @bahlilahadalia)

JAKARTA - President Joko Widodo (Jokowi) has set an investment realization target of IDR 900 trillion this year. This figure increased from the previous year's target of IDR 817.2 trillion.

Investment Minister, Bahlil Lahadalia, said he was optimistic that the target could be achieved by the end of the year. Moreover, currently, the realization is almost 50 percent.

"How about in 2021, this year our investment target is raised to IDR 900 trillion, which is actually IDR 856 trillion from the Bappenas plan. But the President asked us to increase it to IDR 900 trillion. Of the IDR 900 trillion, IDR 442.7 trillion or equivalent has been realized. with 49.2 percent", he said in a webinar, Wednesday, September 29.

In detail, Indonesia's investment realization from January to June 2021 amounted to IDR 442.7 trillion with Foreign Investment (PMA) worth IDR 228.5 trillion (51.6 percent) and Domestic Investment (PMDN) of IDR 214.2 trillion (48.4 percent).

Bahlil said, currently the distribution of investment is no longer monopolized or focused on islands in Java but has shifted outside Java. According to Bahlil, investment growth outside Java is already much higher than in Java.

"Now, again, between Java and outside Java, starting from outside Java, it has reached 51.5 percent and Java 48.5 percent", he said.

Furthermore, Bahlil said that next year the investment target will also increase. According to Bahlil, Jokowi wants the investment realization to reach IDR 1,200 trillion next year.

"This year, IDR 900 trillion, next year, IDR 1,200 trillion, an increase of IDR 300 trillion. This requires good cooperation from all stakeholders, including banks", he said.

Meanwhile, at the end of Jokowi's tenure, Bahlil said that he received an order to withdraw investment into the country worth IDR 5,000 trillion.

"The President asked that in 2024 our investment should be around IDR 5,000 trillion", he explained.