Indonesia's 2024 Investment Target Is a Challenge, Minister Bahlil Says

TEMPO.CO, Jakarta - Indonesian Investment Minister Bahlil Lahadalia stated that the country's investment target next year is a challenge. Why so?

"The future challenge is Rp1,650 trillion [of investment target]," he said during the 2023 national investment coordination meeting in South Jakarta today, Dec. 7, 2023.

The government has previously set out the target for investment next year to be Rp1,650 trillion. Thus, Bahlil said, his ministry is holding a meeting today to form strategies for the realization of said target.

"It won't be easy, with the political year (general elections), and the uncertain geopolitical situation," he said.

Bahlil was otherwise optimistic about this year's investment target of Rp1,400 trillion, he said. "I believe the target could be achieved," he remarked.

From January to September 2023, the Investment Ministry recorded Rp1,053.1 trillion in investment realization in Indonesia, equal to 75.2 percent of the overall target. This realization has absorbed around 1,365,648 workers across Indonesia and an 18 percent y-o-y growth.

The investment was categorized into foreign direct investment which garnered 53.1 percent of the total target at Rp559.6 trillion, and domestic investment at Rp493.5 trillion or 46.9 percent.

AMELIA RAHIMA SARI | ANTARA

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