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Realized Investments to Aceh Reach Rp2.3 trillion in Q1 2024

Aceh Province Investment and One-Stop Integrated Services Office (DPMPTSP) Head Marthunis announced that interest from both local and foreign investors in Aceh remains strong through 2024.

"This is evident from the investment realization in Aceh during the first quarter (Q1) of 2024, which reached Rp2.3 trillion, or 21.1 percent of this year's target of Rp11.1 trillion," Marthunis stated, accompanied by DPMPTSP Investment Implementation Control Division Head Adriansyah Putra, in Banda Aceh on May 17, 2024.

Marthunis highlighted that the Q1 2024 investment represents a significant growth of 74.92 percent year-on-year (yoy). Foreign investments to Aceh also grew by about 14.3 percent. Domestic investments contributed almost Rp2.14 trillion to total investments towards Aceh in Q1 2024, while foreign investments contributed Rp232.672 billion.

Marthunis pointed out that the high investment growth in Q1 2024 is a clear indication of sustained interest from both domestic and foreign investors. Meanwhile, Acting Aceh Governor Bustami emphasized the importance of investment, urging local authorities and businesses to provide top-notch service to potential investors.

"Serve them as best as possible, so that domestic and foreign investors are willing to invest in Aceh," the Acting Governor stated.

In Q1 2024, investors from 18 countries engaged in various activities in Aceh, including Singapore with 1 investment activity package, Malaysia with 23, Belgium with 19, Cayman Islands with 1, South Korea with 19, Canada with 1, the United Kingdom with 5, the United States with 3, China with 21, Turkey with 1, the Netherlands with 4, Hong Kong with 7, the Czech Republic with 1, Japan with 8, Western Samoa with 1, Sweden with 5, France with 1, and Brazil with 1.

Domestic investments to Aceh spanned 22 business sectors, led by the food crop, plantation, and livestock sector with 108 activity packages valued at about Rp722.32 billion. The food industry followed with 72 packages worth around Rp571.1 billion, and the mining sector had 174 packages worth about Rp431.74 billion.

Construction activities had 1,326 packages with an investment value of Rp60.48 billion. The service sector had 237 packages worth nearly Rp50.62 billion, the hotel and restaurant sector had 62 packages valued at almost Rp12.41 billion, the housing, industrial, and office areas sector had 33 packages worth Rp9.1 billion, while the transportation, warehousing, and telecommunications sector had 121 packages valued at Rp7.7 billion.

Other sectors included the trade and repair sector with 825 packages worth IDR 101.144 billion, the electricity, gas, and water activities had 102 packages valued at Rp94.787 billion, and the chemical and pharmaceutical sector had 22 packages worth Rp64.686 billion. Moreover, the fisheries sector had 30 packages valued at Rp1.5 billion, and the wood sector had 2 packages valued at Rp1 billion, among others.

For foreign investments, the top sectors were transportation, warehouse, and telecommunications with 12 packages worth Rp7.9 billion, the food crop, plantation, and livestock with 24 packages worth Rp2.6 billion, and the mining sector with 14 packages worth Rp1.7 billion. The food sector had 16 packages valued at Rp1.7 billion, the electricity, gas, and water sector had 31 packages worth Rp844.5 million, and the other services sector had 13 packages worth Rp233 million, among others.

"This large number has contributed to absorbing new workers, which according to BPS [Statistics Indonesia], has reached tens of thousands this year," Marthunis concluded.

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