The effort is expected to support the achievement of higher economic growth, as targeted by President Prabowo Subianto’s administration, by increasing investment from within and outside the country.
“In addition to (increasing) domestic investment, which is managed by Danantara, we are also attracting investment from the global market,” he said at the Presidential Palace in Jakarta on Thursday evening.
Amid geopolitical uncertainty, Indonesia has its own appeal for global investors, supported by its political stability and sustained economic growth in the ASEAN and Indo-Pacific regions, he pointed out.
According to the minister, this trend can also be seen from Vietnam's interest in cooperating with Indonesia.
“ASEAN’s large population is already attractive (for potential investors). Like Vietnam, it exports to America and Europe, but why is it looking at Indonesia? Because Indonesia has strong domestic purchasing power, so they hope that Indonesia-Vietnam cooperation will open larger market,” he explained.
He said that with its domestic market share of 52–54 percent, or around US$750 billion, Indonesia is a target for global investment.
Meanwhile, commenting about obstacles from NGOs to investment, he informed that the government will evaluate them further.
“Of course, we will further look at it; there are many that we have identified,” he said.
Earlier, chairperson of the National Economic Council (DEN), Luhut Binsar Pandjaitan, revealed the government’s plan to form a special team to examine barriers to the entry of investment into Indonesia.
The team will work for a week to evaluate regulations that could potentially hinder the entry of investment into Indonesia.
This step is expected to create a more conducive investment climate and support the economic growth target of 8 percent.
Pandjaitan said he is optimistic that with solid coordination between DEN, the Coordinating Ministry for Economic Affairs, and ministries and related institutions, the resulting policies will be more effective and have a positive impact on community welfare.
Related news: DEN, ministry to form team to scrutinize investment barriers
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Translator: Andi Firdaus, Livia Kristianti, Yashinta Difa
Editor: Arie Novarina
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