JAKARTA - The Investment Coordinating Board (ICB) will lower investment realisation target in the second quarter (Q2) of 2020 due to the economic impact of the coronavirus (COVID-19) pandemic.
“The government is still unable to determine when the COVID-19 pandemic will end. Therefore, we need to make adjustments,” ICB Head Bahlil Lahadalia said as quoted by Antara, Friday (5/6).
In Q1, investment realisation grew 8% year on year (yoy) to Rp 210.7 trillion. During the period, the Integrated Investment Service Office in all provinces implemented health protocols in facilitating investors and processing permits.
Investment, Mr Lahadalia said, is one of the ways to create jobs amid the economic downturn caused by the COVID-19 pandemic.
“President Jokowi (Joko Widodo) has said that the economic downturn has caused many people to lose jobs, and investment is a solution to create jobs,” the former Indonesian Young Entrepreneurs’ Association (Hipmi) Chairman concluded. (MS)