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Jakarta Post

‘Don’t be allergic to investment’: Government goes all out to lure funds in 2019

  • Marchio Irfan Gorbiano

    The Jakarta Post

Jakarta   /   Tue, December 17, 2019   /  09:08 am
The Jakarta Post Image
President Joko "Jokowi" Widodo.(Twitter/@jokowi)

The government has gone all out in luring investment to Indonesia as part of its efforts to revive the country’s manufacturing sector and improve its export performance to spur economic activity amid looming external risks. When he addressed his supporters in Sentul, West Java, in July, President Joko “Jokowi” Widodo emphasized that attracting investment would be one of his priorities in his second term. “No one should be allergic to investment. This is how we create as many jobs as possible. Therefore, anything that obstructs investment must be trimmed, such as slow or complicated permit processes, especially illegal levies,” said Jokowi. Investment, which accounts for more than a third of Indonesia’s gross domestic product (GDP), has steadily declined since last year’s third quarter. Year-on-year (yoy) investment growth stood at 4.21 p...