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Selasa, 26 November 2024

Optimism in Investment Drives Economic Growth at the 12th US-Indonesia Investment Summit

Jakarta, November 26, 2024 – To support collaboration between the United States and Indonesia in driving economic growth and mutual prosperity, Minister of Investment and Downstream Industry/Head of the Indonesia Investment Coordinating Board (BKPM) Rosan Perkasa Roeslani delivered a keynote speech at the 12th US-Indonesia Investment Summit in Jakarta on Tuesday (26/11).

In his speech, Rosan emphasized that investment plays a crucial role in achieving economic growth targets. Consequently, the government is focusing on increasing the flow of quality investments as one of its top priorities in future economic development plans.


“To reach the 8% growth target, it is evident that Indonesia’s current economic growth structure is driven by several key factors. Domestic consumption contributes around 53-54% to economic growth, while investment accounts for approximately 24-25%. Government spending contributes around 8-9%, and exports minus imports contribute about 2%,” explained Rosan.


Rosan also highlighted that Indonesia is increasingly open to foreign investment. As a concrete example, Indonesia has implemented the Omnibus Law, which revises the negative list for foreign investment. The impact of this policy is visible as the number of sectors previously closed to foreign investment has been reduced from over 100 to only five sectors that are now restricted.


In the same forum, the Chairman of the National Economic Council and Special Presidential Advisor on Digitalization and Government Technology, Luhut Binsar Pandjaitan, stated that despite various global challenges, Indonesia’s economy grew by 5.2% last year. This demonstrates the robust foundation of the nation’s economy. Moving forward, Indonesia remains optimistic about achieving a 6% economic growth target for 2024.


Luhut also expressed the government’s optimism about continuing efforts to enhance economic competitiveness by focusing on reforms and improving efficiency across all ministries and agencies. “We believe Indonesia can continue to grow and develop. The economy remains solid, and despite global uncertainties, we still have substantial room for growth. With a relatively low debt-to-GDP ratio and a budget deficit ranging between 2.5% and 3%, we have ample space for continued economic growth,” Luhut stated.


The event proceeded with sidelines meetings between the Chairman of the National Economic Council, the Minister of Investment, and representatives from 22 leading American companies. Some of the companies participating in these meetings included Bank of America, Chevron, Exxon Mobil, Cargill, Caterpillar, Chubb, Google, IBM, Meta, Qualcomm, Pfizer, Kraft Heinz, UL Solutions, EY, GE Healthcare, Honeywell, UOB, Johnson & Johnson, Abbott, SEG Solar, Mastercard, and HSBC. 


For further information, please contact:

Ahmad Faisal Suralaga

Head of the Bureau of Communication and Information Services

Ministry of Investment and Downstream Industry/BKPM

E-mail: humas@bkpm.go.id

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