Investment Ministry Revises Three Regulations to Accelerate Investment and Achieve 8 Per Cent Growth Target
JAKARTA, KOMPAS.TV - The Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM) is currently revising three implementing regulations of Government Regulation No. 5 of 2021 on Risk-Based Business Licensing. The revisions are expected to accelerate investment realisation as part of efforts to achieve the target of 8 per cent economic growth and Rp13,000 trillion in investment by 2029.
Deputy Minister of Investment and Downstreaming/BKPM, Todotua Pasaribu, explained that the three regulations being revised are BKPM Regulation No. 3 of 2021, which governs the Electronically Integrated Risk-Based Business Licensing System; BKPM Regulation No. 4 of 2021, which specifically governs the Guidelines and Procedures for Risk-Based Business Licensing Services and Investment Facilities; and BKPM Regulation No. 5 of 2021, which governs the Guidelines and Procedures for Risk-Based Business Licensing Supervision.
"This government has a target of economic growth heading towards 8 per cent. This is a fairly ambitious figure, but also quite realistic if it can be achieved," said Todotua in an official statement recently, as quoted on Sunday (6/7).
He noted that during the previous ten years of government, investment realisation reached approximately Rp9,900 trillion. Meanwhile, the current administration has set a target of pursuing 8 per cent economic growth. Consequently, domestic investment over the next five years must reach Rp13,000 trillion.
"If during the previous 10 years of government, the investment realisation figure was approximately Rp9,900 trillion, then in the next 5 years to reach the 8 per cent target, we need an investment realisation figure of Rp13,000 trillion," he said.
He also revealed that this year's investment target has been raised to Rp1,900 trillion, up from the 2024 realisation of Rp1,700 trillion.
Deputy Minister of Investment and Downstreaming/BKPM, Todotua Pasaribu, explained that the three regulations being revised are BKPM Regulation No. 3 of 2021, which governs the Electronically Integrated Risk-Based Business Licensing System; BKPM Regulation No. 4 of 2021, which specifically governs the Guidelines and Procedures for Risk-Based Business Licensing Services and Investment Facilities; and BKPM Regulation No. 5 of 2021, which governs the Guidelines and Procedures for Risk-Based Business Licensing Supervision.
"This government has a target of economic growth heading towards 8 per cent. This is a fairly ambitious figure, but also quite realistic if it can be achieved," said Todotua in an official statement recently, as quoted on Sunday (6/7).
He noted that during the previous ten years of government, investment realisation reached approximately Rp9,900 trillion. Meanwhile, the current administration has set a target of pursuing 8 per cent economic growth. Consequently, domestic investment over the next five years must reach Rp13,000 trillion.
"If during the previous 10 years of government, the investment realisation figure was approximately Rp9,900 trillion, then in the next 5 years to reach the 8 per cent target, we need an investment realisation figure of Rp13,000 trillion," he said.
He also revealed that this year's investment target has been raised to Rp1,900 trillion, up from the 2024 realisation of Rp1,700 trillion.