The Indonesia’s Investment Coordinating Board (BKPM) is looking for nearly IDR 1,000 trillion of investment to push the country’s economic growth to 6%, as per the national medium-term development plan (RPJMN) 2020-2024. To attract investors, the government plans for a centralized licensing system under the BKPM.
BKPM also encourages foreign investors to partner with local businessmen to create jobs as a step to realize economic equalization, the top priority in the RPJMN. Job creation is closely related to growing public consumption, which is 56% to national economic growth.
BKPM is currently focusing on Papua and West Papua. In West Papua, the government has five priority projects: the development of new ports, restoration of the Sorong Seget Port, development of industrial zone in Bintuni Bay and special economic zone (KEK) in Sorong and a gas pipe/LPG terminal of Tangguh LNG Train-3 project. The two completed projects, namely the revamping of Sentani Airport in Jayapura and the construction of the Cross Border Post (PLBN), are predicted to boost local economic growth.
(Source: Antara News)