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Jakarta Post

Govt raises investment target after promising Q1 results

  • Rachmadea Aisyah

    The Jakarta Post

JAKARTA   /   Wed, May 1, 2019   /  06:56 pm
The Jakarta Post Image
BKPM head Thomas Lembong (JP/Anton Hermansyah)

The Investment Coordinating Board (BKPM) expects total investments this year to increase by double digits following the positive trend recorded in the first quarter of this year. Earlier this year, the Coordinating Investment Board (BKPM) set a modest 8.4 percent growth target in total investments to Rp 792.3 trillion (US$55.67 billion) this year after a slow performance in 2018, when investments grew by a mere 4.1 percent compared to 13.1 percent in 2017. With the encouraging growth during the January to March period, however, BKPM chairman Thomas “Tom” Lembong said he was optimistic the annual growth would reach as high as 13 percent at the end of this year Total investment rose 5.3 percent to Rp 195.1 trillion by the end of March this year from Rp 185.3 trillion in the same period of last year. Foreign investments, which made up over 55 perc...