Indonesia eyes foreign investments worth 1,400 trillion rupiah in 2023

30/11/2022 09:31 PM

By Mohd Iswandi Kasan Anuar

JAKARTA, Nov 30 (Bernama) -- Indonesia aims to attract foreign investments worth 1,400 trillion rupiah (10,000 rupiah=RM2.83) in 2023, up 200 trillion rupiah from this year's target, said its Investment Minister Bahlil Lahadalia. 

He said the target can be achieved provided that the domestic politics in Indonesia remain stable, the Ukraine-Russia war ends soon, and there is no political conflict between China and Taiwan.

"The amount of foreign investment achieved as of the third quarter of 2022 reached 894 trillion rupiah," said Bahlil at the opening of the investment coordination meeting by President Joko Widodo or Jokowi today.

Indonesians will go to the polls in 2024 to elect their next president, national legislature, and many provincial and local governments.

Since the third quarter of 2020, the amount of investments in a number of regions outside Java has surpassed the amount within the island, in line with the government's aspirations to see equitable economic growth throughout the country, said Bahlil.

Meanwhile, Jokowi in his speech urged those who manage investments as well as fiscal and financial policies to be cautious and not be confused when evaluating the global economic situation and prospects.

According to him, all countries are confronting rising inflation, slowdown in economic growth, energy and food crises, fertiliser supply disruptions, and the threat of a global economic recession early next year.

"Indonesia’s foreign investment entry process also needs to be simplified amid intense competition for investment to create economic growth," he said.






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