BKPM highlights conditions to achieve Rp900-trillion investment target

Jakarta Investment Coordinating Board (BKPM) Head Bahlil Lahadalia called attention to fulfilling some conditions that were paramount to the realization of the investment target set at Rp900 trillion for 2021.

“Everything will be possible on grounds that some conditions are met. Firstly, we have to handle the COVID-19 pandemic. The vaccination program must run well,” Lahadalia stated during a webinar on accelerating economic recovery here on Tuesday.

According to the BKPM head, half of the target set for the COVID-19 vaccination program is projected to be achieved in May or June to recover business confidence.

“Vaccination must run smoothly and is expected to be completed in May-June, at least half (of the target), in order to regain public trust to recover their businesses,” he affirmed.

The second crucial prerequisite is completion of the government regulation on job creation law, especially related to the norms, standard, procedure, and criteria (NSPK) of business license.

Lahadalia drew attention to the third condition of positive, comprehensive, and sustained synergy between the central and local governments to encourage investment inflow.

“We need positive, comprehensive, and continued synergy between the central government, provincial and district/municipalities administrations. We can then enter a phase wherein we have sufficient space between the government and domestic and foreign businesspersons,” he explained.

Lahadalia is upbeat about the investment target of Rp900 trillion being realized in 2021 if the government can meet the requirements.

According to the BKPM Strategic Plan for 2020-2024, investment target during the period is set at Rp4,983.2 trillion.

The investment target was set at Rp817.2 trillion in 2020, Rp858.5 trillion in 2021, Rp968.4 trillion in 2022, Rp1,099.8 trillion in 2023, and Rp1,239.3 trillion in 2024.

Source: Antara News