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| Monday, 15 June 2015, 23:45 HKT/SGT | |
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JAKARTA, June 15, 2015 - (ACN Newswire) - Investment in Indonesia continues to grow despite the economic slowdown in the country, Chief of the Investment Coordinating Board (BKPM) Franky Sibarani said after visiting eight investment projects in Banten and Central Java from June 9 to 12. These projects are among examples of 100 investment projects that were inspected to check whether they could run smoothly.
"Investment in Indonesia is still improving, and it will not be disrupted by economic conditions," he stated here on Monday. Sibarani added that the BKPM will provide assistance to complete the investment projects and facilitate the settlement of problems faced by investors in the realization of investment in Indonesia.
If the investment plan of Rp50.7 trillion can be realized soon, there will be as many as 10,000 employment opportunities, he pointed out. "If the eight investment projects can be completed soon, there will be potential for exports worth US$800 million every year and substitution of imports amounting to US$810 million annually," he affirmed.
Sibarani further noted that there will be additional power plants with a capacity of up to 986 megawatts (MW), with 324 MW for its own purposes and 662 MW for public interest. Moreover, investment activities are expected to spur the acceleration of development in the region and to encourage economic growth.
"The 100 investment projects will be supervised to boost the national economy," Sibarani emphasized. "We believe we will exceed our year-end target of realizing investment worth Rp519.5 trillion."
In addition, Vice President Jusuf Kalla had said here on Friday that Indonesia will expedite infrastructural development to boost economic growth. "There are a lot of things to do, including expediting infrastructural development, to improve our economy," he stated in response to the World Bank's projection of economic growth in developing countries.
In its report, the World Bank revealed that developing countries are projected to grow 4.4 percent in 2015. This estimation is lower than the GDP growth in January 2015, which was recorded at 4.8 percent. Kalla hopes that the average growth of the Indonesian economy is higher than 4.4 percent.
The infrastructural development being carried out in the country is expected to increase long-term economic growth, he pointed out. "We will build roads, ports and other facilities. They will not be ready immediately but within the next two to three years," he affirmed.
According to the World Bank, developing countries, including Indonesia, are facing a number of challenges in 2015, such as low prices of commodities and the world price of oil. The World Bank also reported the hike of interest rate in the United States, which will tighten funding in developing countries.
"In view of that, I hope commodity prices rise. They will certainly not decline continuously. No price is always high, but they must drop sometimes," the Vice President concluded. --Antara.
Topic: Press release summary
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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