So far, the target of Rp1,200 trillion is still reachable.
Surakarta, C Java (ANTARA) - Investment Minister Bahlil Lahadalia said that his side will strive to realize investment projects that have received tax holiday fiscal incentives to achieve the investment target of Rp1,200 trillion (US$79.5 billion) by 2022.

The minister stated here on Thursday that to achieve the investment target in 2021, his side had revived the stalled investment of Rp708 trillion (US$46.9 billion).

"Meanwhile, in 2022, we have prepared (several) strategic attempts, including realizing investments that have received tax holiday incentives, and the total (of the investment) is around Rp1,300 trillion (US$86.15 billion)," he remarked.

The projects have not been realized due to several obstacles in licensing, land acquisition, construction of facilities of the projects, as well as financial closing process at the bank.


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Hence, the Investment Ministry continues to provide end-to-end assistance, so that the investment can be realized soon.

The minister had likened the investment realization attempt to a soccer game of attacking and defending, as apart from continuing to seek investment from abroad, the government also kept encouraging the realization of committed investments in the country.

Regarding the projection of economic growth in the remaining quarters of 2022, which is estimated to be quite difficult due to the COVID-19 pandemic and global crisis, he is optimistic that the investment target in 2022 will be achieved.

“If God wills, it will be achieved by the fourth quarter (of 2022),” he remarked.

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Lahadalia noted that despite concerns regarding economic growth, currently, the investment realization is still on track to meet the target.

"So far, the target of Rp1,200 trillion is still reachable," he noted.

The investment target in 2022 was set at Rp1,200 trillion to pursue the economic growth target of above five percent.

Meanwhile, in 2021, the investment realization reached Rp901.02 trillion (US$59.71 billion), exceeding the target set by President Joko Widodo (Jokowi) of Rp900 trillion (US$59.64 billion).


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Translator: Ade Junida, Uyu Liman
Editor: Fardah Assegaf
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