Indonesia needs over 2.5 trillion USD investment to reach 6 pct growth
Indonesia needs over 2.5 trillion USD in investment to reach 6 pct growth
Indonesia needs over 35.4 trillion Rupiah (2.517 trillion USD) worth of investment to achieve an average economic growth of 6 percent in the next five years, according to the Ministry of National Development Planning (Bappenas).
Jakarta (VNA) – Indonesia needsover 35.4 trillion Rupiah (2.517 trillion USD) worth of investment to achieve anaverage economic growth of 6 percent in the next five years, according to theMinistry of National Development Planning (Bappenas).
Of the total investment figure, the Indonesiangovernment and state-owned businesses will contribute 9.4 percent and 8.8percent, respectively, under the national medium-term development plan for2020-2024 released recently by Bappenas. The remaining will be mobilized fromthe private sector.
Bappenas Deputy Minister Arifin Rudiyanto saidIndonesia will encourage industrialisation through promoting innovation andtechnology transfer in order to create new jobs and strengthen the domesticeconomy.
The country will also improve the investmentenvironment by simplifying administrative reforms and directing the flow of investmentto industrial parks and special economic zones, as well as boost growth inseveral fields such as manufacture and tourism, he added./.
Indonesian Coordinating Minister for Economy Hatta Rajasa has said total investment in Indonesia last year scaled up by 25 percent to 398.6 trillion rupiah (some 32.88 billion USD) despite of the country's subdued economic growth and risks of US plan of reducing fund injection, according to news agencies.
The International Monetary Fund (IMF) has forecasted Indonesia’s economic growth will reach 5.1 percent in 2017, mostly driven by domestic expenditure and private investment.
Indonesia posted a slower economic growth in the fourth quarter of 2016 and the country will have to struggle to get the rate above 5 percent this year.
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Illustrative image (Photo: Internet) 
