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South Sumatra Recorded Rp14.14 Trillion Realized Investment for Q1 2024
WINDONESIA May 17, 2024
Construction of the Bung Karno Statue at the Bung Karno Sport Center in Banyuasin Regency, South Sumatra Province. (Bisnis Indonesia).
The South Sumatra Province Investment and One-Stop Integrated Services Office (DPMPTSP) reported that realized investment to South Sumatra in the first quarter (Q1) of 2024 reached RP14.14 trillion.
South Sumatra's realized investment reached 21.81 percent of the province's portion of the national investment target for 2024, which is Rp64.82 trillion.
South Sumatra's realized investment for Q1 2024 has also reached 34.07 percent of the investment goal in the province's current regional medium-term development target (RPJMD).
DPMPTSP Investment Control and Implementation Division Head Eko Agusriant explained on May 10, 2024, that the realized investment to South Sumatra increased by 32.27 percent quarter-to-quarter (qtq) and 31.41 percent year-on-year (yoy) in Q1 2024.
That achievement was comprised of domestic investment amounting to Rp10.31 trillion, or 40.65 percent of total realized investment to the province, and foreign investment amounting to Rp3.83 trillion, or 11.66 percent of said total investment.
He detailed that the five largest economic sectors for realized investment in Q1 2024 consisted of the electricity, gas, and water sector reaching Rp3.60 trillion, followed by the paper and printing sector reaching Rp2.02 billion.
Next were the the food sector at Rp1.97 trillion, the mining sector at Rp1.95 billion, as well as the food crops, plantations, and livestock sector at Rp723 billion.
Previously, Agus stated that his office is currently encouraging various companies, especially micro, small, and medium enterprises (MSMEs), to fulfill their obligations in the form of Investment Activity Reports (LKPM).
He explained that LKPM reporting is done by the companies or business actors themselves through the online single submission system. Therefore, one of the strategies to boost investment realization is through efforts to improve the discipline of LKPM reporting.
“We are socializing how to report and what rights and obligations the reporters have. Even though the [LKPM reporting] target is high this year, it still must be pursued because [investment] has a multiplier effect,” he concluded.
Source: sumatra.bisnis.com