The General Election to not Disrupt the Investment Climate in Indonesia

Entering the political year in Indonesia in 2024, the Ministry of Investment/Investment Coordinating Board (BKPM) organized an Investment Forum, Friday (8/12), in Singapore, focusing on the theme “Indonesia’s Investment Trends 2024 and Green Economic Opportunities.” The forum featured the Minister of Investment/Head of BKPM Bahlil Lahadalia and the Indonesian Ambassador to Singapore, Suryo Pratomo, as key speakers.

SINGAPORE —
Entering the political year in Indonesia in 2024, the Ministry of
Investment/Investment Coordinating Board (BKPM) organized an Investment Forum,
Friday (8/12), in Singapore, focusing on the theme “Indonesia’s Investment
Trends 2024 and Green Economic Opportunities.” The forum featured the
Minister of Investment/Head of BKPM Bahlil Lahadalia and the Indonesian
Ambassador to Singapore, Suryo Pratomo, as key speakers.

In front of
more than 200 forum participants, Minister Bahlil stated that the investment
climate in Indonesia is continually growing, and the country remains open to
collaborating with investors from Singapore to invest in Indonesia. He
emphasized Indonesia’s openness to investors from all countries, not offering
special privileges to specific nations.

“Despite
facing political events, I am confident that politics wouldn’t hinder
investments and the government will keep facilitating business permits through
the Online Single Submission (OSS) Indonesia application,” said Bahlil.

Indonesian
Ambassador to Singapore Suryo Pratomo added that Indonesia, rich in natural
resources, holds great potential. However, he stressed the importance of
focusing on environmentally sustainable industries and ensuring well-being for
future generations.

“The
government is committed to reducing greenhouse gas emissions, promoting
renewable energy sources, and preserving internationally recognized natural
resources. We have embarked on ambitious steps to become one of the global
leaders in the environmentally friendly economy,” emphasized Suryo.

The panel
discussion session featured Deputy for Investment Promotion of the Ministry of
Investment/BKPM Nurul Ichwan, Deputy for Economic Affairs of the Ministry of
National Development Planning/National Development Planning Agency
(PPN/Bappenas) Amalia Adininggar Widyasanti, Economic Advisor to the
Coordinating Minister for Economic Affairs Reza Yamora Siregar, Maritime and
Investment Advisor to the Coordinating Minister Edo Mahendra, and Chief
Economist of Bank Mandiri Andry Asmoro.

Singapore
has been the largest Foreign Direct Investment (FDI) source for Indonesia in
the last three years, with significant investments totalling USD 12.1 billion
from January to September 2023.

Dominant
sectors include basic metal industries (USD 11.3 billion), transportation and
warehousing, and telecommunications (USD 7.9 billion), as well as real estate,
industrial zones, and housing (USD 7.8 billion). The primary investment
destinations are DKI Jakarta (USD 12.4 billion), Central Sulawesi (USD 6.5
billion), and West Java (USD 6 billion).

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