Bahlil Lahadalia (center), the chairman of the Investment Coordinating Board (BKPM), visits the construction site of a Hyundai plant amid the COVID-19 pandemic. TEMPO
TEMPO.CO, Jakarta - Investment Coordinating Board (BKPM) Chief Bahlil Lahadalia has announced the government’s plans to revise the country’s investment target for 2020.
It has been confirmed the country's investment realization in the year’s second quarter is bound to decline, thus the investment target this year will be adjusted to actual conditions.
“The government cannot confirm yet when the COVID-19 pandemic will be over. So we have to make some adjustments based on this condition. The BKPM will revise the realization of investment target of the second quarter of 2020,” Bahlil said as quoted in an official release on Friday, June 5, 2020.
Bahlil called on his side not to disheartened by the situation and reminded that efforts to ramp up investment would remain a priority so as to bolster the country’s sluggish economy.
As reported earlier, the BKPM released yesterday the data of the country’s investment realization in the first quarter of 2020, which reached Rp210.7 trillion. Of the figure, the investment value from outside of Java Island jumped 19.3 percent to Rp102.4 trillion from Rp85.8 trillion of the same period last year.
