G20 offers momentum to boost investors' trust in Indonesia: Minister

G20 offers momentum to boost investors’ trust in Indonesia: Minister

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Jakarta (ANTARA) – Investment Minister and Investment Coordinating Board (BKPM) Head, Bahlil Lahadalia, stated that Indonesia’s Presidency in the G20 offered an important momentum to boost investor confidence in Indonesia as an investment destination.

“We will use the G20 event as a measurable strategic momentum to convince investors, both from domestic and foreign countries, to continue believing that Indonesia is an investment destination,” he stated at a press conference “Investment Continues to Grow to Support Economic Growth” in Jakarta, Thursday.

Lahadalia remarked that the rate of Foreign Direct Investment (FDI) had continued to increase as well as Domestic Investment (PMDN) that showed promising growth on an annual basis due to the extraordinary trust in Indonesia.

Lahadalia remarked that this trust was also supported by President Joko Widodo’s brilliant leadership, including those related to controlling COVID-19, economic recovery, and efforts to build ecosystems and economic stability.

“In my opinion, President Joko Widodo leads our country in an on-the-track position in the context of controlling the pandemic, economic recovery, as well as being able to take unconventional ways to build ecosystems and economic stability, especially related to the downstreaming industry,” he noted.

At the G20 forum, the Indonesian government will focus on continuing to encourage economic transformation through downstreaming. The minister noted that downstreaming is not solely related to nickel.

According to Lahadalia, the nickel industry is a big experience for Indonesia to be able to increase the added value of national exports, on account of the fact that downstream nickel had increased national exports, from only US$3.3 billion in 2017 to US$20.9 billion in 2021.

“In 2022, we estimate it to reach US$27 billion to US$30 billion,” he remarked.

He further stated that the four points had been agreed at the G20 ministerial level in the working group on trade, investment, and industry, especially the investment sector, will be included in the discussion at the G20’s head-of-state level.

The four points are downstreaming and creating added value, collaboration with regional entrepreneurs and micro, small, medium enterprises (MSMEs), investment equity, and the Bali Compendium.

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