Foreign Investment Forecast to Increase

Foreign Investment Forecast to Increase
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Domestic and foreign investment in Indonesia is forecast to increase to Rp 230 trillion ($25.5 billion) this year, higher than the Rp 200 trillion of realzed investment last year, an Investment Coordinating Board (BKPM) executive said. “Up to 40 percent of that target will be invested in areas outside Java such as Sulawesi, Maluku, Nusa Tenggara and Papua,” BKPM chairman Gita Wirjawan said after signing a memorandum of understanding on coordinating potential investment development between the board and the Indonesian Chamber of Commerce and Industry (Kadin). “This year we will focus on infrastructure and through public-private partnerships hopefully we will be able to reach our target.” Kadin chairman Suryo Bambang Sulisto concurred, saying the chamber would bring more investors to potential areas outside of Java and promote their business opportunities. “Businessmen in their respective regions should start making an inventory of all opportunities that could be offered to investors. We hope they will pack it in an appealing proposal,” Suryo said. Indonesia set an investment target of Rp 160 trillion last year, but heavy interest in the infrastructure, mining, plantation and food sectors helped drive the total well past the initial goal. Kadin will help potential investors approach the city councils so they can give suggestions to improve the business environment in those areas. Therefore, Suryo said, city councils will be able to identify their flaws and make improvements. Gita and Suryo shared the view that huge potential exists for sectors such as plantation and mining outside of Java. “We hope there will be value added, which means not just extracting resources,” Gita said.

News Source : The Jakarta Globe

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