Indonesian Investment Minister Bahlil Lahadalia (Photo: Antaranews) Jakarta (VNA) – Indonesian President Joko Widodo has appointed the Ministry of Investment to draw 1,200 trillion Rp (84.5 billion USD) in investment in 2022, said Minister Bahlil Lahadalia.
The target is 30 percent higher than this year’s target of 900 trillion Rp set by the President, the Minister said.
He added that the investment target for this year is 858.5 trillion Rp in accordance with the 2020-2024 strategic plan prepared by the Ministry of Investment.
Despite the COVID-19 pandemic, the flow of foreign direct investment (FDI) into Indonesia has improved, increasing 51-52 percent year-on-year to 19.7 trillion Rp in the first quarter of 2021.
The Indonesian government planned to develop a region-based investment sector.
Accordingly, the nickel industry for batteries and fisheries will be developed in Sulawesi, while Papua encourages fertilizer development, and West Papua requires the construction of smelters, and nutmeg plantations.
Kalimantan will focus on developing downstream bauxite and coal gasification sectors. Meanwhile, in Sumatra, the palm oil, paper, pulp, rubber and tire industries are prioritised./.
VNA
