Investment Flows into East Kalimantan Increase in 2023

Investment flows into East Kalimantan have increased, particularly since President Joko Widodo announced the relocation of the government center from DKI Jakarta to the Nusantara Capital City (IKN).

The government first established this plan in Law Number 3 of 2022 concerning the Capital City, which was later revised into Law Number 21 of 2023.

Following this policy, the total value of direct investment in East Kalimantan in 2023 reached Rp72.75 trillion, a 22.6% increase year-on-year (yoy).

Specifically, in 2023, the realization of foreign direct investment (FDI) in East Kalimantan grew by 5.25% (yoy) to US$1.32 billion, equivalent to Rp20.58 trillion (assuming an exchange rate of Rp15,439 per US$).

This figure accounts for 32.34% of total foreign investment into Kalimantan Island, or 2.65% of the total national FDI value.

Meanwhile, the realization of domestic direct investment (DDI) in East Kalimantan in 2023 surged by 31.76% (yoy) to Rp52.17 trillion.

This represents 52.72% of the total DDI in Kalimantan Island, or 7.73% of the total national DDI.

Here's a breakdown of the value of FDI in the 5 provinces of Kalimantan Island in 2023:

* East Kalimantan: US$1,332.71 million
* North Kalimantan: US$1,272.13 million
* Central Kalimantan: US$697.64 million
* West Kalimantan: US$490.47 million
* South Kalimantan: US$327.90 million
* Total: US$4,120.84 million

Here's the value of DDI in the 5 provinces of Kalimantan Island in 2023:

* East Kalimantan: Rp52.17 trillion
* South Kalimantan: Rp14.91 trillion
* West Kalimantan: Rp14.89 trillion
* Central Kalimantan: Rp8.78 trillion
* North Kalimantan: Rp8.20 trillion
* Total: Rp98.95 trillion