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Jakarta Post

Indonesia to focus on investment projects in Java this year: Top official

  • News Desk

    The Jakarta Post

Jakarta   /   Wed, May 2, 2018   /   04:30 pm
Indonesia to focus on investment projects in Java this year: Top official Investment Coordinating Board (BKPM) head Thomas Lembong (JP/Anton Hermansyah)

Investment Coordinating Board (BPKM) head Thomas Lembong says the government will prioritize investment, including in mega projects in Java, to achieve the target of Rp 765 trillion (US$54.77 billion) in 2018.

“To achieve the investment target in 2018 and also in 2019, we are forced to focus on mega projects in Java,” Thomas said on Monday as reported by kompas.com.

He explained that the Java-focused move had been taken in anticipation of worsening external conditions.

E-commerce was an attractive sector for investors, many of whom had invested in Jakarta and other regions in Java, said Lembong, adding that most investors preferred placing their money in Java.

It was only a short-term strategy to attract investors, as in the long-term, the government would continue to prioritize the development of other regions, Thomas added.

BPKM data shows that the government booked Rp 185.3 trillion in investment in the first quarter of the year, consisting of Rp 76.4 trillion in domestic investment and Rp 108.9 trillion in foreign investment. (bbn).