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Investment on target at half-year mark: BKPM
The Investment Coordinating Board (BKPM) has announced that two quarters into the year, the country is nearly halfway to its 2023 realized investment target and has noted that activity usually rises later in the year.
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Investment Minister Bahlil Lahadalia speaks to journalists in Jakarta on July 21, 2023, following a press conference in which he presented Indonesia's latest figures on realized investment. (Investment Ministry/-)
T
he Investment Coordinating Board (BKPM) has announced that two quarters into the year, the country is nearly halfway to its 2023 investment target and has expressed confidence about meeting the full-year goal.
Presenting the latest figures on domestic and foreign investment on Friday, BKPM head Bahlil Lahadalia said the Rp 678.7 trillion (US$45.1 billion) in investment realized in the first half of the year marked a 16.1 percent year-on-year (yoy) increase and accounted for 48.5 percent of this year’s target.
“Investment is at almost 50 percent [of the target now], and it normally peaks in the fourth quarter,” Bahlil told reporters in Jakarta on Friday.
President Joko “Jokowi” Widodo has set this year’s investment target at Rp 1.4 quadrillion, raising the bar from last year’s goal of Rp 1.2 quadrillion.
Bahlil, who is also the investment minister, said Jokowi had set the target to support the goal of 5 percent economic growth this year.
Bahlil reported that all investment numbers had increased from last year’s levels and that global and domestic investor trust in Indonesia “remains”.
Foreign investment rose 17.1 percent yoy to Rp 363.3 trillion in this first half, accounting for 53.3 percent of total investment.
