Wednesday, 20 June 2018 | 05:05 WIB

Investments of Industry Sector Reached $21.6 Bln, Highest in 2017

Industry Minister Airlangga Hartarto.

JAKARTA, NNC - The government through the Ministry of Industry noted that until December 14, 2017, new investment commitments to Indonesia reached $42.6 billion with a total of 1,054 projects. The industry's investment gained 23.7 percent compared to 2016.

"The government is continuously striving to create a favorable business climate and to facilitate domestic business so investors can increase their investment in Indonesia in building a more inclusive and quality national economy," said Minister of Industry Airlangga Hartarto in an official statement in Jakarta on Friday (1/12/2018).

He explained that the industry sector contributes the most to the realization of investments compared to all other sectors which reached $21.6 billion with 256 projects. Meanwhile, the tourism sector contributed $17 billion with 159 projects, public works and public housing $1.2 billion with 98 projects.

The energy and mineral resources sector contributed $1.18 billion with 32 projects, trade $0.92 billion with 427 projects, and agriculture $0.27 billion with 22 projects, and other sectors $0.43 billion with 60 projects.

The Industry Minister targets by 2018 the value of investment that can be drawn from 13 industrial areas will reach IDR250.7 trillion.

"The government has provided ease of investing in industrial areas, among others through the provision of fiscal and non-fiscal incentives and the formation of task force for the provision of gas, electricity, water, human resources, land, spatial, and so on," he explained.

Meanwhile, the projected investment in the overall manufacturing industry in this year amounted to IDR352 trillion.

"With investment in the industrial sector, new jobs and multiplier effects are created such as increase in value added and foreign exchange earnings from exports. Therefore, the industry becomes the main support of the target of economic growth," he concluded.