The Election Of Joe Biden Has No Impact On Investment Realization In Indonesia

Infrastructure project illustration. (Troy Mortier / Unsplash)

JAKARTA - Investment realization throughout 2020 increased beyond the target of reaching IDR 826.3 trillion, from what the government initially set at IDR 817.2 trillion.

"The realization of our investment is from the target of IDR 817.2 trillion, which means that there is an increase of IDR 9 trillion from the target," said Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia, quoted by VOI from Antara, Monday, January 25.

Through an online conference, Bahlil explained that the achievement of investment realization in Indonesia throughout 2020 reached 101.1 percent or grew by 2.1 percent when compared to 2019 with a total of IDR 809.6 trillion.

Bahlil assessed that Joe Biden's election as President of the United States (US) would not have a special impact on investment and economic influence in Indonesia. Nevertheless, Bahlil appealed that communication must be maintained.

"In history, our PMA [Foreign Investment] from America in the last five years, [coming from the Republican or Democratic Party that won it has not had a significant impact on the realization of American investment in Indonesia," Bahlil explained.

The US is known to be the country ranked number eight with the most investment in Indonesia throughout 2020.

Bahlil revealed that the realization of US investment in 2020 reached USD749.7 million (derived from 1,471 investment projects).

"There is nothing that worries us, but the presence of Joe Biden might make a better condition. That is our hope, but we do not know what the direction of the policy will be," he explained.

The election of Joe Biden as president, according to Bahlil, is not a worry. This is because the most important thing is the pattern of diplomatic and communication relations that must be maintained between Indonesia and the US in the future.

"If I look at the latest data, just gentle, there is no problem, it's just how we do a good communication pattern," Bahlil added.