The Investment Coordinating Board (BKPM) along with the Ministry of Foreign Affairs continues to strengthen cooperation to increase investment into Indonesia. Minister of Foreign Affairs, Retno Marsudi in a written statement in Jakarta on Thursday (7/5) reminded that it’s important to strengthen the strategy of raising investment amid the COVID-19 pandemic. She emphasized that along with the momentum of the post-epidemic world economic recovery, the Ministry of Foreign Affairs and the Investment Coordinating Board must cooperate to attract quality investment.
The commitment to jointly increase investment has been carried out recently on the web seminar entitled "Maintaining Investment Momentum: Post-COVID-19 Investment Improvement Strategy" which was attended by 34 Heads of Indonesian Representatives around the world, including from the Indonesian Embassies (KBRI) overseas such as Russia, the United Arab Emirates, Germany, China, Italy, the Indonesian Embassy in Belgium concurrently in Luxembourg and the European Union, and the Indonesian Embassy in Turkey.
In her written statement, Minister Retno Marsudi asserted that Indonesian representatives are expected to improve their performance to explore the opportunities that exist in each local country. The orientation of economic diplomacy becomes more important than before. In addition, investment growth in the first quarter of 2020, which increased by 8 percent, also became a reference to improve and strengthen investment strategies amid the pandemic. The orientation of economic diplomacy must become more important than before.
Meanwhile, Head of BKPM, Bahlil Lahadalia said that despite the COVID-19 pandemic, diplomats continue to actively promote Indonesian investment opportunities. He also stated that amid COVID-19, it is very difficult to expect new investment to enter Indonesia. His side will focus on existing investments until they can be realized.
According to Bahlil, the Investment Coordinating Board has a target of stalled investment settlement worth Rp708 trillion. At present, around Rp 287 trillion has been completed, which consists of investment projects such as Lotte Chemical Indonesia; cooperation in the construction of an oil refinery between Pertamina and Rosneft, the construction of Tanjung Jati power plant, and the construction of Hyundai Motor Company car factory.