JakartaGlobe-Feb 18, 2022
The government will need an “out of the box” strategy that can significantly boost new investments after President Joko “Jokowi” Widodo set a target of Rp 1,200 trillion ($83.7 billion) in total investment, an increase by a third on the realization of last year, a minister said on Thursday. While admitting that the target was extremely challenging amid the ongoing Covid-19 pandemic and global supply chain problems, Investment Minister Bahlil Lahadalia said it remains achievable.
“The Rp 1,200 trillion target is by no means a small figure. To put it in context, it’s almost a half of our state budget,” Bahlil said in a meeting with the Beritasatu Group editorial board in Jakarta. Part of the investment strategy is to pay greater attention to more than 59 million micro, small, and medium enterprises that become the backbone of the national economy. Bahlil said a vast majority of Indonesian MSMEs aren’t registered as a formal business unit, making it hard to track their actual investment value. Bahlil said his office has canceled licenses of many “unfulfilled investment pledges” valued at Rp 558 trillion on paper only since 2019.
Read more at: https://jakartaglobe.id/business/indonesia-in-uphill-struggle-to-achieve-rp-1200t-in-new-investments
