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Indonesia Investment Realization Q-1 (January - March) 2024
In the first quarter of 2024 (January-March), the investment realization in Indonesia reached IDR 401.5 trillion, resulting in the employment of a workforce of 547,419 individuals. Furthermore, foreign direct investment played a major role this quarter, contributing 50.9% of total investment of IDR 204.4 trillion. This is a remarkable 15.5% increase compared to the same period last year. Moreover, Singapore led foreign investment by contributing US$4.2 billion, followed by Hong Kong US$1.9 billion, China US$1.9 billion, the United States US$1.1 billion, and Japan US$1.0 billion. The domestic direct investment (DDI) also went up significantly , reaching IDR 197.1 trillion from IDR 151.9 trillion.
During this quarter, the investment realization distribution between Java Island and outside was nearly balanced. Java Island contributed IDR 200.5 trillion (49.9%) and outside Java Island contributed IDR 201.0 trillion (50.1%). Investments in both Java and non-Java regions rose by 28.5% and 16.3% respectively compared to the corresponding period in 2023. Moreover, Central Sulawesi province ranked fourth among the top five provinces with a contribution of IDR 27.0 trillion. West Java and DKI Jakarta Provinces remained in first and second place, respectively, with IDR 64.7 trillion and IDR 58.4 trillion, unchanged from the previous period.
Based on the sectors of this investment realization this quarter, manufacturing dominated investment, bringing in IDR 48.1 trillion. This sector, especially basic metals and related products. Transportation, warehousing, and telecommunications came in second at IDR 48.0 trillion, followed by mining IDR 42.3 trillion, housing, industrial and office areas IDR 29.4 trillion, and food industries IDR 29.0 trillion. Overall, over 40% of all investments this quarter went to the manufacturing sector.
Thus, the Indonesian government, through the Ministry of Investment/Investment Coordinating Board (BKPM), committed to reaching the 2024 president's target investment of IDR 1,650 trillion. To achieve this, the Investment Acceleration Task Force will facilitate and address obstacles faced by large-scale strategic investment plans. The Indonesian government hopes the president’s target will be achieved and the economy will grow above 5%.
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