TEMPO.CO, Jakarta - Investment Coordinating Board (BKPM) chairperson Bahlil Lahadalia said Java Island’s investment realization during the third quarter had tumbled by 12 percent compared to the same period last year as it only booked Rp98.6 trillion (42.2 percent) from the total realization.
“There is roughly a 12 percent year-on-year drop in Java. So this is actually great news as there are expansions outside of Java Island,” said Bahlil in Friday’s press conference.
Investments outside of Java Island saw an increase up to 17.9 percent during this year’s third quarter compared to the same period in 2019, with Rp110.4 trillion or 52.8 percent from the total investments.
The BKPM chair assured this indicated investors were no longer focusing their investments on Java Island and had expanded to locations outside of it.