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Investment up 21.6 percent in third quarter
The government has announced strong investment growth in the third quarter, which the minister in charge hailed as a sign of confidence in the domestic economy ahead of next year’s general elections.
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Investment Minister Bahlil Lahadalia presents the latest data on foreign and domestic direct investment at a press briefing in Jakarta on Oct. 20, 2023. The minister, who also heads up the Indonesia Investment Coordinating Board, said realized investment in the third quarter of 2023 was up 21.6 percent year-on-year. (YouTube/KementerianInvestasiBKPM/-)
T
he government has announced strong investment growth in the third quarter (Q3), which the minister in charge hailed as a sign of confidence in the domestic economy ahead of next year’s general elections.
During a press conference on Friday, Investment Minister Bahlil Lahadalia said realized investment in the July-through-September period amounted to Rp 374.4 trillion, up 7 percent from the preceding quarter and 21.6 percent year-on-year (yoy).
That brings realized investment so far this year to Rp 1,053.1 trillion, which is still a fair distance from the full-year target of Rp 1,400 trillion.
Bahlil, who in his capacity as minister also heads the Investment Coordinating Board (BKPM), noted that the Q3 investment was more than a quarter of the full-year target.
He also sought to allay concerns about a slowdown because of political uncertainty.
"Others say that in a political year, it’s normal that there would be a wait-and-see moment. However, there has been an aggressive increase in investment recently, because there are individuals who invest with the commitment they have made," Bahlil said, referring to the time ahead of and during general elections.
