Indonesia targets investment to reach 83.3 bln USD by 2022

Jakarta (Indonesia Window) – Indonesian Coordinating Minister for the Economy Airlangga Hartarto has targeted the total investment entering Indonesia to reach 1,200 trillion rupiahs (some 83.3 billion U.S. dollars) by 2022.

“We are targeting investment to reach 1,200 trillion rupiahs by 2022. This will of course require collaboration with stakeholders, especially the Indonesian Entrepreneurs Association and the Chamber of Commerce and Industry,” said Airlangga at an online national coordinating meeting here, Tuesday (Aug. 24).

The investment target would be realized by applying the Sovereign Wealth Fund (SWF) and implementing the Omnibus Law on Job Creation more thoroughly.

In early August 2021, the government launched a Risk-Based Online Single Submission (OSS) which is expected to facilitate business players to get permits to carry out various economic activities.

Furthermore, Airlangga hoped that the local administrations would accelerate the development of Detailed Spatial Plan (RDTR) which would be the basis for granting business permits in the regions.

At the provincial and district/city levels, OSS is under the One Stop Service (PTSP), which is expected to be integrated with OSS at the central government level.

Investment is expected to be the main driving force for Indonesia’s economic growth, replacing the household consumption sector.

Throughout the first semester of 2021, the total investment entering Indonesia reached 442 trillion rupiahs (some 30.6 billion dollars), or up 10 percent compared to the same period last year.

Until the end of 2021, the government targets the incoming investment to reach 900 trillion rupiahs (some 62.5 billion dollars).

Reporting by Indonesia Window