Investment in W Sumatra with target of Rp4.72 trillion only realized Rp383.1 billion in the first quarter of 2020

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Investment in W Sumatra with target of  Rp4.72 trillion only realized Rp383.1 billion in the first quarter of 2020

Head of the W Sumatra One Stop Integrated Investment and Services Office, Maswar Dedi. (ANTARA/ Special)

Padang (ANTARA) - Domestic and foreign investment in W Sumatra in the first quarter of 2020 with a target of Rp4.72 trillion was only realized Rp383.1 billion or 8.11 percent, but relevant officials claimed it was caused of the late reporting of the company.

"During the COVID-19 outbreak, most companies implemented a" work from home "policy, so it caused investment report was late," said Head of the W Sumatra One Stop Integrated Investment and Services Office (DPMPTSP), Maswar Dedi in Padang, Wednesday.

The delay caused an investment balance realization that was recorded only 8.11 percent or Rp383.1 billion of the total target of Rp4.72 trillion in 2020.

Compared to the same period last year it was relatively lower because for the first quarter of 2019, the realization was more than 10 percent.

"We believe that in the second quarter, the realization recorded will improve because reports from companies are expected to be normal again. Deficiencies in the first quarter will be overtaken in the second quarter," he explained.

The data from W Sumatra DPMPTSP, the target of realization of Domestic Investment (PMDN) in 2020 is Rp2.85 trillion. In the first quarter it only reached Rp.49.07 billion or only 1.72 percent.

Meanwhile for Foreign Direct Investment (PMA) from the target of 125 million USD, it has only reached 22.26 thousand USD or 17.82 percent.

Overall from the total target of Rp4.72 trillion, only Rp383.1 billion or 8.11 percent has been reached.

Maswar Dedi admitted that the COVID-19 pandemic was quite influential on investment in the area, but the impact is not too significant.

He is optimistic that the realization of the W Sumatra investment target can be achieved by the end of the year according to the target set.

Transleted by: Mutiara Ramadhani

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