"I believe experiences in 2020 and 2021, through new regulations enacted by the Law on Job Creation, global demand for Indonesia's natural resources, and President Joko Widodo's continued support to downstream industry development are factors that will bolster our effort to achieve the Rp1,200-trillion investment realization target in 2022," Lahadalia said while presenting the 2021 investment realization report online in Jakarta on Thursday.
The ministry has conceived several strategies for boosting investment in Indonesia and achieving the realization target, he revealed.
Maximizing incentive facilities and the potential of approved investments permits will be the first strategy, the minister informed.
"I had earlier informed that some corporations have received incentives with the total amount surpassing Rp2 thousand trillion (US$140 billion). This will become the most vital part (of our effort), and we will create a priority scale based on this," Lahadalia added.
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The minister said that the government's second strategy is to boost the development of investment realization in several projects launched last year.
"We will push companies to expedite their investment realization and development schedule for projects that had been launched last year, either in the first months or mid-year. For instance, if a factory construction project earlier set their schedule to be 36 months, we are encouraging them to expedite the process to only 30 months, as this will expedite and increase investment realization," Lahadalia explained.
The ministry will also set up a team to invite global investors to invest in Indonesia as the ministry cannot depend on the state budget alone to boost efforts for achieving the Rp1,200-trillion investment realization target, he said.
"I will set up a team that will work in several countries, such as the United Arab Emirates, China, South Korea, Japan, the United States, and European countries," the minister stated.
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Translator: Ade Irma Junida, Nabil Ihsan
Editor: Suharto
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