Indonesia will remain world’s investment destination in 2023: govt

Indonesia will remain world’s investment destination in 2023: govt

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Jakarta – Minister of Investment and Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia expressed optimism that Indonesia would remain the world’s investment destination in 2023.

“When asked whether Indonesia is still optimistic that in the future, we will become one of the investment destination countries? Yes, we are very optimistic,” the minister noted during the online talk show titled “Optimism for a Stronger Indonesia” in Jakarta on Wednesday.

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Recently, Indonesia has shown an excellent economic foundation. Indonesia’s economic growth had reached 5.44 percent in the second quarter of 2022 (yoy), with the inflation rate maintained at 4.35 percent in June 2022 (yoy) amid global uncertainty that plagued the world, he remarked.

This achievement has made Indonesia as one of the countries with the best macroeconomic foundations in the world. This is especially when compared to other G20 member countries, Lahadalia remarked.

“Our economic foundation is based on our consumption growth that is around 5.1 percent, the investment grows at 3.1 percent, and good exports and imports,” he stated.

The minister’s optimism is also based on President Joko Widodo’s direction that the investment target in 2023 must be higher than the 2022 target of Rp1,200 trillion.

A higher investment target is needed to fill the declining financing gap since the state budget deficit must be kept below three percent.

“In order to keep our growth above five percent, we need investment. Hence, I am sure that future investment will be above Rp1,200 trillion,” Lahadalia noted.

He is also optimistic that the investment realization target of Rp1,200 trillion in 2022 would be achieved.

Until the first semester of 2022, the realization of investment had reached Rp584.6 trillion, or 58.4 percent of the existing target.

He said that the flow of investment realization would continue to increase until the end of the year to pursue the company’s targets.

“Usually, the investment flow cycle is the smallest in the first quarter and then increases in the third and fourth quarters since people are pursuing targets. With the data we have, God willing, it will be achieved,” he concluded.

Article source: Antara News – Indonesia will remain world’s investment destination in 2023: govt

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