The government has reported an increase of almost a thousand trillion rupiah in funds committed to support the country’s investment master plan, with the energy and transportation sectors so far drawing the most interest.
As of the end of February, investors have committed to investing a total of Rp 4,925 trillion ($537 billion) until 2014 for a number of projects under the Master Plan for the Acceleration and Expansion of Indonesia’s Economic Development (MP3EI), officials have said.
The figure is higher than Rp 4,012 trillion reported several months ago.
“The energy sector and port developments have drawn most investors’ interests. Those projects are mainly based in Java and Sumatra, ” Abdul Kamarzuki , the head of the planning division at the Indonesian Economic Development Committee, said in Jakarta on Saturday.
He added about Rp 2,365 trillion of the February figure were set for the infrastructure sector.
The MP3EI, launched in May 2010, divides the country into six economic corridors, namely Java, Sumatra, Kalimantan, Sulawesi, Bali-Nusa Tenggara and Papua-Maluku. It is aimed at boosting developments and economic growth across the regions.
The master plan is a top priority in Indonesia’s “economic diplomacy,” with the country’s envoys having recently been directed to especially persuade foreign investors to support the program.
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Dredging Today Staff, March 14, 2012;