TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

2022 investment exceeds target as mining sector roars

Indonesia has exceeded its target for realized investment in four consecutive years as the mining sector in conjunction with the development of downstream industries attracted vastly greater funding last year.

Fadhil Haidar Sulaeman (The Jakarta Post)
Premium
Jakarta
Tue, January 24, 2023

Share This Article

Change Size

2022 investment exceeds target as mining sector roars This stock photo shows a worker processing nickel ore at a smelter in Sorowako, South Sulawesi, on Aug. 1, 2019. (Shutterstock/Kaisarmuda)

Indonesia has exceeded its target for realized investment in four consecutive years as the mining sector in conjunction with the development of downstream industries attracted vastly greater funding last year.

Capital injections in the real sector increased by 34 percent to Rp 1.207 quadrillion (US$80.3 billion) last year, surpassing by Rp 7 trillion a target proclaimed by the President. The Investment Ministry report does not include investment in the financial sector, the oil and gas sector nor in micro, small and medium enterprises (MSMEs).

The National Development Planning Ministry had an investment target of Rp 960 trillion for 2022, but President Joko “Jokowi” Widodo raised the bar to Rp 1.2 quadrillion, telling his officials to accelerate Indonesia’s development so as to achieve advanced economy status by 2045.

Jokowi expects the country’s GDP growth to remain above 5 percent every year, which is deemed a prerequisite to reach the 2045 goal.

“Many people were pessimistic back then […] but now, this is the largest full-year investment ever recorded,” Investment Minister Bahlil Lahadalia told reporters on Tuesday.

Prospects

Every Monday

With exclusive interviews and in-depth coverage of the region's most pressing business issues, "Prospects" is the go-to source for staying ahead of the curve in Indonesia's rapidly evolving business landscape.

By registering, you agree with The Jakarta Post's

Thank You

for signing up our newsletter!

Please check your email for your newsletter subscription.

View More Newsletter

The ministry touted its success in building industries to not only extract the country’s natural resources but also add value to them, as the top two sectors drawing investment last year underpinned each other’s growth.

The lion’s share of investment, namely Rp 171.2 trillion, went to the base-metals industry last year, with the annual rise of 45 percent being a testament to the Jokowi administration’s push for downstream development.

to Read Full Story

  • Unlimited access to our web and app content
  • e-Post daily digital newspaper
  • No advertisements, no interruptions
  • Privileged access to our events and programs
  • Subscription to our newsletters

We accept

TJP - Visa
TJP - Mastercard
TJP - GoPay
{

Your Opinion Counts

Your thoughts matter - share your experiences, suggestions, and any issues you've encountered on The Jakarta Post. We're here to listen.

Enter at least 30 characters
0 / 30

Thank You

Thank you for sharing your thoughts. We appreciate your feedback.