"For 2022, our investment target is actually Rp985 trillion, or a maximum of Rp1,127 trillion. But the President's request to us is (to increase it to) Rp1,200 trillion," Lahadalia told Commission VI of the Indonesian Parliament during a hearing here on Monday.
The new target is 30 percent higher compared to this year's target of Rp900 trillion set by President Widodo, he said. As per the strategic plan for 2020-2024 drawn by the Investment Ministry/ BKPM, the investment target for this year is Rp 858.5 trillion, he added.
"So it's up by 30 percent. We ask for support from the leadership and members of the Commission VI because this requires strong nutrition and lubricants that are patented. Otherwise, this will have a systemic impact on the management of completing the investment," he remarked.
As of the first quarter of 2021, Rp219.7 trillion of this year's investment target of Rp900 trillion had been realized, the minister said. Despite the COVID-19 pandemic, the flow of foreign direct investment (FDI) has improved, he noted.
"Our FDI has improved even though it is still COVID-19. It has increased to 51-52 percent compared to 2020. Our position has given us a glimmer of hope," he stated.
New investment projects are spread both inside and outside Java, he disclosed.
In the future, the Ministry of Investment / BKPM will develop investment sectors based on regions, he said.
"For example in Sulawesi, Maluku regions, we will encourage (investment in the) nickel industry for batteries and fisheries. In Papua, we will encourage the development of fertilizers, while in West Papua, there should be construction of smelters as well as nutmeg plantations," he expounded.
The focus in Kalimantan would be on the development of the bauxite downstream and coal gasification sectors, he said. Meanwhile, in Sumatra, palm oil, paper and pulp, as well as the rubber and tire industries will be given priority, he added.
"In Java, we will collaborate in addition to the existing ones, we will build car batteries in Batang (Central Java), precursors, cathodes," he further said.
Meanwhile, Bali and Nusa Tenggara will focus on developing tourism and health services for the elderly, he added. (INE)
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Translator: Ade Irma J, Fardah
Editor: Suharto
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