Investments to South Sumatra reached Rp70.92 trillion in 2024

Realzied investment to South Sumatra Province reached Rp70.92 trillion in 2024. This significant increase was driven by large investments in the paper, mining, and electricity, gas, and water industries. Moreover, foreign investment from countries such as Singapore, China, and Malaysia also continues to flow into South Sumatra.

"The Rp70.92 trillion investment realization of South Sumatra throughout 2024 exceeded the [South Sumatra] RPJMD (Regional Medium-Term Development Plan) and BKPM (Investment Coordinating Board) targets," said South Sumatra Province Investment and One-Stop Integrated Services Office (DPMPTSP) Investment Management Intermediate Expert Eko Agusrianto.

Eko clarified that realized investments to South Sumatra in 2024 reached 170.89 percent of the Rp41.5 trillion target set by the South Sumatra RPJMD and 109.41 percent of the Rp64.82 trillion target seet by the BKPM. He elaborated that domestic investment to South Sumatra surged 42.37 percent year-on-year (yoy) to Rp36.67 trillion, while foreign investment soared 56.53 percent yoy to Rp34.52 trillion.

The five highest sectors for investment realization to South Sumatra in 2024 are the paper and printing sector with Rp25.02 trillion, the mining sector with Rp9.64 trillion, the electricity, gas, and water sector with Rp8.22 trillion, the food manufacturing sector with Rp5.81 trillion, as well as the food crops, plantations, and livestock sector with Rp5.52 trillion. For information, Sinar Mas subsidiary PT OKI Pulp Sinar Mas owns the larget paper factory in the province.

"Alhamdulillah, South Sumatra Province entered the top five [provinces] nationally for foreign investment realization in the fourth quarter (Q4) of 2024," Eko revealed.

He added that the highest foreign investments came from Singapore with Rp26.98 trillion, China with Rp4.12 trillion, Malaysia with Rp1.28 trillion, Japan with Rp407 billion, and Luxembourg with Rp330 billion.

"The number of workers employed by the investments was recorded at 47,792 people. This number is also higher than last year's workforce employment of only 28,971 people," Eko said.