Airlangga Seeks USD80 Billion of Foreign Investment to RI

Jakarta – Coordinating Minister for Economic Affairs, Airlangga Hartarto, said that Southeast Asia’s foreign direct investment (FDI) was recorded at USD224.2 billion and investment into Indonesia is expected to take a portion of around 40 percent.

“Of course with the amount of Asean FDI of more than USD224 billion to Indonesia, and of course we hope that 40 percent of the investment will go to Indonesia,” Airlangga told the media after the UOB Gateway to ASEAN Conference in Jakarta, October 11, 2023.

In addition, he also added that, if the 40 percent foreign direct investment portion succeeded in entering Indonesia, Indonesia would be able to absorb investments of up to USD80 billion.

“Because Indonesia’s economy is about 40 percent of Asia’s total, USD80 billion must be absorbed, the target from the state budget is that we attract 1,500 trillion this year,” he added.

Airlangga is also optimistic that this can be achieved, because Indonesia still has a number of good economic conditions, such as good economic growth to maintained inflation.

“First, political stability, economic growth that maintains five percent for seven quarters, then we press inflation below 2.2 percent, the target is around three percent until the end of the year, it seems to be achieved,” said Airlangga.

Not only Indonesia’s economic fundamentals, the implementation of foreign exchange export proceeds (DHE) is also expected to be a factor that encourages the achievement of the 40 percent foreign direct investment target.

“Plus (plus) Indonesia implements DHE which is expected in three months to evaluate amid the uncertainty of the US dollar, this foreign exchange is important, so we prepare medicine before the rain falls,” he added. (*)