Jakarta (ANTARA) - Minister of Investment and Head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, stated on Monday that investment in Indonesia will remain favorable despite the ongoing boycott against Israel-affiliated products.

He expressed optimism that this year's investment target of Rp1,400 trillion (approximately US$90.4 billion) could be achieved.

"As of today, our investment target is still on track... God willing, it can be achieved," he said in Jakarta.

However, he admitted that he could not yet assess the impact of the boycott on the investment climate in Indonesia.

"We still require more data and current updates on this issue," Lahadalia explained.

He remarked that the investment target for 2023 remains aligned with expectations.

Additionally, he noted that pressure on the domestic financial market is currently easing, as evidenced by the strengthening of the rupiah exchange rate, which has rebounded to around Rp15,000 per US dollar.

"Our exchange rate has been able to maintain stability at Rp15,000 per US dollar. This is a positive sign and will boost investor confidence in our country," he emphasized.

He asserted that the foreign direct investment (FDI) sector continues to grow as anticipated.

"Thus far, there have been no complaints from foreign investors regarding the boycott," he pointed out.

On November 10, the Indonesian Ulema Council (MUI) issued a fatwa declaring the purchase of products from manufacturers who openly support Israeli aggression against Palestine as haram or forbidden in Islam.

Minister of Religious Affairs Yaqut Cholil Qoumas stated that the fatwa represented a form of solidarity from the Indonesian people in supporting the struggle of Palestine.

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Translator: Andi Firdaus, Resinta Sulistiyandari
Editor: Anton Santoso
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