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BKPM records Rp 721.3t investment in 2018
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Investment Coordinating Board head Thomas "Tom" Trikasih Lembong. (JP/Donny Fernando)
T
he Investment Coordinating Board (BKPM) has recorded Rp 721.3 trillion (US$51.1 billion) in foreign and domestic investment throughout 2018, up 4.1 percent from the year before.
The investment realization has missed the target set in the National Medium Term Development Plan (RPJMN) at Rp 765 trillion, which in October was adjusted by the board to Rp 730 trillion following poor investment in the second and third quarter of 2018.
Global economic disruptions were blamed for the 8.8 percent year-on-year (yoy) decrease of foreign investment inflows to Rp 392.7 trillion.
It, however, was offset by much stronger growth in domestic investment, which had grown by more than 25 percent yoy to Rp 328.6 trillion.
“The year 2018 turned out to be full of challenges coming from the United States-China trade war and the four rate hikes by the US Federal Reserve,” BKPM head Thomas Lembong told the press on Wednesday.
In line with the trade war, which had affected China’s growth, the country’s investment to Indonesia slid 29.3 percent to $ 2.37 billion.
On the other hand, investment increases were recorded in Indonesia’s other top origins for foreign investment – Singapore and Japan – to $8.4 billion and $5 billion, respectively.
“Nevertheless, we managed to get through and overcome the challenges well enough. That restores our confidence that we can tackle such challenges in the future,” said Thomas. (bbn)
