Jakarta (ANTARA) - Investment Minister Bahlil Lahadalia has said that the investment target in the political year has been retained at Rp1,650 trillion (around US$105.09 billion) as no adjustments have been made to the target.
He delivered the statement in Jakarta on Wednesday while making a presentation on investment realization in 2023. According to him, to achieve the 2024 investment target, it is essential to continue to ensure that investors feel safe and comfortable regarding the investment climate in Indonesia, especially in a political year that is full of dynamics.
Lahadalia informed that this year, his ministry will still focus on boosting investment in the infrastructure, service, and downstreaming sectors. In terms of investment in the downstreaming sector, he is targeting that it would contribute 45–50 percent to the total investment in 2024. He said that currently, the downstreaming sector's contribution has reached 40 percent of the total investment.
"Thus, downstreaming is being expanded, not only in mining. We have started to expand it because the prospective investors have started to appear," he added.
The Ministry of Investment has mapped out the expansion of industrial downstreaming in eight sectors, namely mineral, coal, petroleum, natural gas, plantations, marine, fisheries, and forestry There are 21 commodities in the eight priority sectors with an investment potential of around US$545.3 billion for the 2023–2025 period.
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The downstreaming investment potential in the mineral and coal sectors is pegged at US$427.1 billion. Then, in the petroleum and natural gas sectors, the potential is US$67.6 billion.
In the plantations, marine, fisheries, and forestry sectors, the potential for investment is US$50.6 billion. As per the Investment Ministry's records, investment realization in 2023 reached Rp1,418.9 trillion (around US$90.29 billion), surpassing the target of Rp1,400 trillion (around US$89.09 billion).
Indonesia will hold the 2024 General Elections on February 14, 2024. Around 204.8 million voters are expected to cast their ballot in the election.