Pledged Investment in Indonesia Tops $165b During Jokowi’s Time in Office, Says BKPM
October 22, 2015 at 08:10
Pledged Investment in Indonesia Tops $165b During Jokowi’s Time in Office, Says BKPM
Jakarta. Companies from across the globe have pledged $165 billion in investments in Indonesia in the 12 months since President Joko Widodo took office, according to the Investment Coordinating Board, or BKPM.
The data, released on Tuesday, range from Oct. 22, 2014 – or two days after Joko’s inauguration – through Oct. 16 this year.
The BKPM said in a statement that the top sectors where investors planned to pour money were downstream mineral processing ($59 billion), infrastructure ($48.7 billion) and industrial estates ($11.9 billion).
“Investment plans are like embryos [for realized investment],” said BKPM chairman Franky Sibarani. “They will have positive impacts, and this interest [from investors] will be [welcomed].”
The investment board did not give any details of the planned projects or companies. All the investment pledges are unrealized, meaning investors have not actually plowed any money into the country.
China topped the list of countries with the most pledged investments, at $61 billion, followed by South Korea ($46 billion), and countries from the Middle East and Africa, at a combined $23 billion.
Franky attributed the high level of pledges in part to the Joko administration’s efforts to simplify investment procedures and streamline the issuance of permits.
Indonesia has long ranked poorly in terms of the ease of doing business, with red tape and hostile regulations forcing companies to wait for years in some cases to get a business permit.
Source: www.jakartaglobe.beritasatu.com
