Indonesia Highlights: Jokowi Signs Controversial Jobs Law | Indonesia to Disburse Second Phase of Cash Transfers for Workers | Jokowi Reprimands Senior Minister, Investment Chief over Low Investment
3. President Jokowi Reprimands Senior Minister, Investment Chief over Low Investment
Indonesia’s President Joko ‘Jokowi’ Widodo has reprimanded his Senior Minister Luhut Binsar Pandjaitan and Investment Chief Bahlil Lahadalia over a six percent contraction in investment in the third quarter of 2020.
“Our investment in the third quarter contracted by six percent. It is still below the target of negative five percent. But, we will wait for the BPS [Central Statistics Agency] data. It will likely be a six percent contraction approximately,” said President Jokowi before the cabinet minister at the State Palace in Jakarta on Monday, November 2.
Jokowi said that previously the government targeted to post negative five percent in investment in the third quarter.
Going forward, Jokowi asked Luhut and Bahlil to improve the investment in the fourth quarter.
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