Indonesia aims to attract over 108 billion USD in investment in 2024
Coordinating Minister for Economic Affairs, Airlangga Hartarto said that the Indonesian Government has set a goal to attract 1,650 trillion IDR (over 108 billion USD) in investment in 2024.
Illustrative photo. Indonesian President Joko Widodo has asked for boosting the development of the domestic electric vehicle industry. (Photo: VNA)
Jakarta (VNA) – Coor💙dinating Minister forEconomic Affairs, Airlangga Hartarto said that the IndonesianGovernment has set a goal to attract 1,650 trillion IDR (over 108 billion USD)in investment in 2024.
Speaking after the meeting on the “2024 MacroeconomicFramework (KEM) and Points of Fiscal Policy (PPKF)” on February 20, Airlangga said that thegovernment will strive to boost incoming investment through various efforts andfollowing some regulations, including the Government Regulation in Lieu of Law(Perppu) Number 2 of 2022 regarding job creation. The Indonesian Government will also accelerate the downstreamof Indonesia’s natural resources to spur the national economy. According to the coordinating minister, President Joko Widodo(Jokowi) has also asked for boosting the development of the domestic electricvehicle industry. Airlangga said that the President expects Indonesia will createan electric vehicle ecosystem and not just focus on manufacturing raw materialsfor electric vehicle batteries, such as cathodes or precursors. Through that attempt, Indonesia can compete with Thailandand other countries in developing the electric vehicle industry. During the meeting on February 20, the government determinedmacroeconomic assumptions for 2024, including economic growth of 5.3 - 5.7%, aninflation rate of 1.5 to 3.5%, and 10-year Government Securities (SBN) interestrate of 6.5-7.4% per year. Regarding human development, the country target to reduce the poverty rate by 6.5 -7.5%, and an unemployment rate of 3.6 - 4.3%./.
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Illustrative photo. Indonesian President Joko Widodo has asked for boosting the development of the domestic electric vehicle industry. (Photo: VNA) 
