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BKPM sets Rp 886 trillion investment realization target for 2020
The target is 9.4 percent higher than the recorded investment realization of Rp 809.6 trillion last year.
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Permission applicants are seen at the BKPM One-Stop Integrated Service, Jakarta, in this file photo. (JP/Ricky Yudhistira)
T
he Investment Coordinating Board (BKPM) has set an investment realization target of Rp 886 trillion (US$64.9 billion) this year as it seeks to facilitate the completion of stalled investment projects with economic conditions projected to become more favorable.
The target is 9.4 percent higher than the recorded investment realization of Rp 809.6 trillion last year.
“Most of the stalled investment projects are those of energy and electricity companies in addition to the petrochemical and automotive industries,” said Farah Ratnadewi Indriani, the agency’s deputy director for investment climate development, during a press conference in Jakarta on Wednesday.
Farah added that the completion of the stalled investment projects was an integral to reaching the agency’s target this year.
The BKPM exceeded its 2019 investment realization target by 2 percent, recording 12.2 percent growth year-on-year. Realized foreign direct investment totaled Rp 423 trillion, or 52.3 percent of total investment, while domestic investment stood at Rp 386.5 trillion, 47.7 percent of total investment, the agency revealed on Wednesday.
Read also: BKPM head vows to resign if fails to improve Indonesia’s doing business rank
The government has struggled in recent times to attract investment to boost the country’s sluggish economic growth. Indonesia’s GDP grew 5.02 percent in the third quarter last year, the slowest pace in the last two years, amid plunging investment and export growth, Statistics Indonesia (BPS) data showed.
