Minister of Investment and Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia emphasized the challenge posed by the 2024 General Election in meeting the 2024 investment target of IDR 1.650 trillion. He noted the correlation between global election periods and economic dynamics. Expressing a desire for the 2024 General Election to be a single round, Bahlil highlighted the importance of providing investors with prompt clarity regarding Indonesia's future leadership post-President Joko Widodo. Bahlil elucidated that a single-round election would afford Indonesia more time to optimize efforts towards achieving the IDR 1.650 trillion investment target. He expressed confidence that post-election, there would be an opportunity to enhance the realization of this target. In the event of a single-round election, Bahlil suggested that investment plans could be expedited as early as March.
The Ministry of Investment/BKPM reported investment realization exceeding expectations in 2023, totaling IDR 1,418.9 trillion, surpassing President Jokowi's target of IDR 1,400 trillion by 101.3%. This achievement was accompanied by the absorption of 1,823,543 workers into the workforce. Bahlil's remarks underscored the crucial role of political stability in fostering investor confidence and driving economic growth. By ensuring a smooth electoral process and providing clarity on future leadership, Indonesia aims to maintain its attractiveness as an investment destination. The ministry's commitment to optimizing investment realization aligns with broader efforts to bolster Indonesia's economic resilience and competitiveness. Despite the challenges posed by global economic uncertainties and the COVID-19 pandemic, Indonesia remains steadfast in its pursuit of sustainable development and inclusive growth.
