In 2021, investment realization in the industrial sector had reached Rp117.5 trillion, an increase of 90.7 percent as compared to the figure in 2019. We are no longer exporting raw materials. We are amping up the downstream programJakarta (ANTARA) - Investment realization in the industrial sector in 2021 increased up to 90.7 percent from that in 2019 owing to the downstream program, according to Investment Minister concurrently Investment Coordinating Board (BKPM) Head Bahlil Lahadalia.
"In 2021, investment realization in the industrial sector had reached Rp117.5 trillion, an increase of 90.7 percent as compared to the figure in 2019. We are no longer exporting raw materials. We are amping up the downstream program," Lahadalia stated during the Morning Talk with the Minister of Investment, which is part of the 2022 Mandiri Investment Forum series on Thursday.
In a written statement here on Friday, Lahadalia noted that the downstream program aligned with the government's policy to prioritize the management of natural resources.
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"The government encourages quality investment through downstream-centric efforts as a solution to create added value," he affirmed.
According to the BKPM head, President Joko Widodo had given directives for the development of inclusive and quality investment in three ways.
The first approach is through equitable investment growth and not merely being focused on Java. The second focus is the need for every investor to collaborate with national entrepreneurs in the region and Micro, Small and Medium Enterprises (MSMEs), while the third measure entails simplifying investment licensing in Indonesia.
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Speaking in connection with investment licensing, the minister explained that business actors can currently easily apply for investment permits through the Risk-Based Online Single Submission (OSS) system that is regulated directly in Law No. 11 of 2020 on Job Creation (UU CK).
Despite continued streamlining of the OSS system, Lahadalia promised to offer requisite services and assistance to investors.
"If there is a problem, please meet us. We will help you. In principle, we will assist with the licensing process and incentives as long as you meet the requirements. Please bring in capital, technology, and the market as well," the minister stressed.
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Translator: Katriana
Editor: Fardah Assegaf
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