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Jakarta Post

Reforms, vaccination to lead to investment boost in 2021: BKPM

  • Dzulfiqar Fathur Rahman

    Jakarta

PREMIUM
Jakarta   /   Tue, January 26 2021   /  01:00 am
Investment Coordinating Board (BKPM) head Bahlil Lahadalia speaks in a virtual press briefing on Jan. 25, 2021 in this screen grab from BKPM's YouTube account.(Courtesy of Investment Coordinating Board (BKPM)/-)

More investment is expected to materialize in Indonesia this year, as reform and hopes of a receding pandemic, boost expectations, while the government approaches bona fide companies, such as Tesla, to invest in the country. The Investment Coordinating Board (BKPM) reported on Monday that Indonesia recorded a growth in overall investment realization last year despite the global economic downturn caused by the COVID-19 pandemic. The overall investment realization grew by 2.1 percent year-on-year (yoy) to Rp 826.3 trillion (US$58.8 billion) and was higher by around 1.11 percent than the target. Domestic direct investment (DDI) realization increased by around 7 percent yoy to Rp 413.5 trillion, while that of foreign direct investment (FDI) dropped by 2.4 percent yoy to Rp 412.8 trillion. “The contribution of [domestic investment] was extraordinary during the pandemic,...