Investments to North Sulawesi reached Rp3.2t in 2024

The mining sector dominates investments to North Sulawesi Province in 2024 according to a presentation by Bank Indonesia (BI) North Sulawesi Representative Office Head Andry Prasmuko, with foreign investments to the sector reaching Rp982 billion from a total of 19 projects last year while domestic investments reached Rp2.22 billion from 109 projects.

Prasmuko also revealed that the industrial, transportation, hotel and restaurant, electricity and gas, as well as the other services sectors also recorded incoming investment, but at much smaller values compared to the mining sector.

"So we have to work hard to attract investors to North Sulawesi," he said, on the sidelines of the Halal bil Halal event that was held simultaneously with the North Sulawesi Current Economic Outlook on the fourth week of April.

Moreover, Prasmuko ensured that he would continue to encourage regional economic stability to support a healthier investment climate, including through close coordination with the local government and support for welcoming fiscal and monetary policies. Prasmuko is optimistic that strong investment growth in the mining sector will have a broad impact on other sectors, such as services, manufacturing, and trade.

"The multiplier impact of this investment is expected to encourage the creation of new jobs and accelerate the economic growth of North Sulawesi," he concluded.

On the same occasion, North Sulawesi Regional Development Planning Agency (Bappeda) Head Elvira Umihanni emphasized that the local government is very focused on encouraging sustainable economic growth.

North Sulawesi's Yulius Selvanus Komaling provincial administration prioritizes three main sectors, namely mining, agriculture, and tourism, which are considered important pillars in strengthening the economy in the future.

"We continue to encourage these main sectors to support inclusive economic growth," she concluded.