Minister reports to President regarding investment progress

So our result is 18, Singapore 19. We’re just one point off

Jakarta (ANTARA) – Minister of Investment/Head of Investment Coordinating Board (BKPM) Bahlil Lahadalia reported to President Joko Widodo (Jokowi) on the development of investment friendliness in Indonesia.

He said the ranking, obtained from an assessment by the United Nations Conference on Trade and Development (UNCTAD) on regulatory reforms to facilitate investment, shows Indonesia is just one point behind Singapore.

“So our result is 18, Singapore 19. We’re only missing one point,” Lahadalia said after meeting President Jokowi here on Monday at the presidential palace.

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The minister explained that UNCTAD assessed at least five indicators, namely permit transparency, speed synchronization, service, online single submission (OSS) and efficiency in license management and security.

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“This evaluation ranking showed that we are always getting better and faster,” he added.

According to him, the ranking of investment facilitation achieved by improving licenses, facilities and incentives for investors will have an impact on investment realization.

However, he noted that President Jokowi emphasized that investments should not only focus on the amount realized, but also on the quality of the investment itself.

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“This year, President Jokowi has set us a target of achieving an investment value of Rp 1,200 trillion. Next year the target will increase to Rp 1,400. The target is not just the number but the diversification of investments between Java Island and outside of Java Island. Investments should also be able to open up more job opportunities,” Lahadalia said.

In addition to building investment based on high technology, the head of state also called on Lahadalia to provide for a labor-intensive workforce as the country needed many job opportunities, especially after the outbreak of the pandemic.

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Lahadalia also said that he reported to the President on the results of his mission after he just returned from attending the 25th session of the ASEAN Investment Zone Council (AIA Council) in Cambodia on September 14.

The forum mentioned Indonesia as a country with the second largest foreign direct investment (FDI) after Singapore.

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