…we are on track to meet the 2022 investment target of Rp1,200 trillion.Jakarta (ANTARA) - Indonesia is on the right track to achieving its investment target, Deputy for investment planning at the Ministry of Investment and the Investment Coordinating Board (BKPM) Nurul Ichwan has said.
"Until June 2022, we have reached 48.7 percent or almost 50 percent; this means we are on track to meet the 2022 investment target of Rp1,200 trillion," he informed at the Lampung Investment Business Collaboration Forum on Tuesday.
The realization of investment is in accordance with the target set by President Joko Widodo (Jokowi). The investment achievement has reached 60.4 percent of the total target of Rp968.4 trillion of the Mid-Term National Development Program (RPJMN), he added.
The investment achievement comprises foreign direct investment (FDI), which has reached 53.1 percent of the target of Rp319.4 trillion. Meanwhile, domestic direct investment (DDI) has reached Rp274.2 trillion or 46.9 percent of the target.
Related news: Minister Sumadi offers investment in Patimban Port to Maersk Line
"If we look at spending and distribution, investment outside Java Island is larger at Rp468.2 trillion or 52 percent. While in Java, the investment has reached Rp432.8 trillion or 48 percent," Ichwan informed.
The target fulfillment in the first half also contributed to the absorption of 1.2 million workers in 133,258 work projects.
Ichwan further emphasized that investment is key for recovering the economy from the impact of the COVID-19 pandemic in 2022. Investment is also one of the driving forces for national economic growth.
"Investment will create job opportunities for new workers, especially for the current unemployed and those affected by the COVID-19 pandemic," he said.
Related news: Asian nations keen to invest in IKN, supporting regions: governor
In addition, export-oriented investment activities will also strengthen the country's foreign exchange reserves and increase domestic consumption.
Efforts to increase and expand investment are also a part of the government's push to achieve Indonesia's 2045 Vision, which envisages Indonesia as the country with the fifth largest gross domestic product (GDP) in the world.
The government is making efforts to transform the economy by increasing competitiveness and ensuring transparency and efficiency to provide ease of doing business, with the help of the Job Creation Law, issuing more competitive investment regulations, and overcoming COVID-19.
Related news: G20 TIIWG discusses draft Ministerial Statement for economic recovery
Related news: Minister reports to President regarding investment progress
Translator: Kuntum Khaira R, Resinta S
Editor: Fardah Assegaf
Copyright © ANTARA 2022
