President Joko Widodo attends the opening ceremony of a wind farm in South Sulawesi. (Source: Jakarta Post)
Indonesian coordinating minister for maritime and investment affairs Luhut Binsar Pandjaitan said he expects investment in the energy sector excluding oil and gas to reach 63.6 billion USD by 2024.
To support the investment target, the government has taken a number of measures, including removing regulations that hinder investments, promoting faster and reliable investment procedures and accelerating strategic decision making, he said at a recent meeting.
Furthermore, the minister said the investment target in the energy sector including coal and mineral, electricity, renewable energy and oil and gas would rise by 39.2 percent this year to 37.2 billion USD from 26.7 billion USD last year.
He said investment in the coal and mineral sector is set to reach 6.2 billion USD in 2019, up from 6.1 billion USD last year.
Investment in electricity, oil and gas, and renewable energy is targeted at 2.2 billion USD, 10.2 billion USD, and 2 billion USD, respectively.
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