Indonesia will surely achieve investment realization of Rp1,200 trillion (US$76.8 billion) by the year-end, in accordance with its target, Minister of Investment and Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia has said.

“Praise be to God, (our investment realization) has reached Rp892.4 trillion (US$57.1 billion), equal to 74.4 percent (of the target). The realization target value, which I promised to be achieved by year-end, is Rp1,200 trillion,” Lahadalia informed at a press conference on Thursday.

According to the minister, the positive investment realization, particularly in the third quarter of 2022, has led to the 5.72-percent economic growth during the same period. Investment realization has also spread outside Java Island, he added.

“This is proof of quality economic growth, and I believe we need to maintain this achievement,” he said.

Lahadalia further said that the investment realization target of Rp1,400 trillion (US$89.6 billion) for 2023 will pose a greater challenge compared to this year’s target, considering the uncertainty in the future global economic conditions.

“There are not only pandemic issues in 2023, but also issues on the global economic conditions, which are not good and bleak,” the minister added.

He said that strategies to achieve the investment target can only be finalized after the G20 Summit, particularly after meetings with major global investors and world leaders that are expected to take place during the international event.

G20 member states account for 80 percent of the global economy, 75 percent of global exports, and 60 percent of the global population, the minister pointed out.

“We have prepared various mitigation steps, particularly about what we must do in 2023,” Lahadalia said.

The minister added that he will not disclose details of the strategies before obtaining information from the relevant partners.

Source: Antara News