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Jakarta Post

RI hopes to attract $87b investment, create 3m jobs through omnibus bill

  • Nezar Patria, Esther Samboh and Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Wed, February 26 2020   /  12:19 am

The government is upbeat that the sweeping omnibus bill on job creation will bolster investment and open up more jobs for Indonesians, as it braces for tough public scrutiny during the bill’s deliberation at the House of Representatives.Coordinating Economic Minister Airlangga Hartarto said that the omnibus bill on job creation could help the government inch closer to its 6 percent economic growth target through Rp 1.2 quadrillion (US$87 billion) in projected investment.Under a “business as usual” scenario, he added, Indonesia would attract between Rp 800 trillion and Rp 900 trillion in investment per year, therefore the bill could “add more than Rp 300 trillion” in investment into Indonesia. The country booked Rp 810 trillion in investment in 2019 from domestic and foreign investors, Investment Coordinating Board (BKPM) data shows.“To reach the [economic] growth target of 6 ...