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Ministry of Investment (Indonesia)

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Ministry of Investment/Indonesia Investment Coordinating Board
Kementerian Investasi/Badan Koordinasi Penanaman Modal
Logo of the Ministry of Investment
Flag of the Ministry of Investment
Ministry overview
Formed28 April 2021
JurisdictionGovernment of Indonesia
Ministers responsible
Websitehttps://www.bkpm.go.id/

The Ministry of Investment/Indonesia Investment Coordinating Board (Indonesian: Kementerian Investasi/Badan Koordinasi Penanaman Modal) is a government ministry formed by the Indonesian government in 2021. The ministry is responsible for investment affairs and facilitating easiness of investment in Indonesia.

History

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On 30 March 2021, Joko Widodo submitted a Presidential Letter No. R-14/Pres/03/2021 to People's Representative Council containing a proposal for major change to his cabinet. In his Presidential Letter, Ministry of Investment, will be spun off from existing Coordinating Ministry for Maritime and Investments Affairs to be independent ministry on its own, but still under its coordination.[1]

On 9 April 2021, People's Representative Council, approved the changes.[2]

The form of the ministry is not yet known at that time of announcement of approval. It was speculated that the new ministry either split off from part of Coordinating Ministry for Maritime and Investments Affairs or elevation of existing Investment Coordinating Board.[3] However, it later confirmed that the ministry is actually elevation of Investment Coordinating Board. If done, this ministry is continuation of previously Suharto era and early Reformasi era's Habibie State Ministry of the Promotion of Investment, which existed during 1993 to 1999, during Sixth Development Cabinet and Development Reform Cabinet, respectively.[4]

On 13 April 2021, Ali Mochtar Ngabalin, spokesperson and expert professional of Deputy IV (Information and Political Communication) Presidential Staff Office, announced that the second reshuffle will take place on second week of April 2021.[5] However, due to many reasons, the second reshuffle finally announced on 28 April 2021. Unusual for reshuffle happening in Indonesia, this reshuffle was the first of its kind which not only reshuffled the ministers, but also disbanded ministry institutions during the mid-term. In this reshuffle, Bahlil Lahadalia was appointed the first holder of Minister of Investment.[6] All appointed officials were inaugurated and their respective new offices were established with Presidential Decision No. 72/P/2021.[7]

Organizations

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Minister of Investment
since 28 April 2021
AppointerPresident of Indonesia
Inaugural holderSanyoto Sastrowardoyo
Formation17 March 1993
Websiteinvestindonesia.go.id

By the virtue of the ministry temporary constitutional document, Presidential Decree No. 31/2021, the ministry is headed by Minister of Investment. The minister post is a concurrent post in which the minister also acted as Head of Indonesia Investment Coordinating Board. As the ministry is elevation of the previous Indonesian Investment Coordinating Board, the ministry retained the previous organizational structure of the board (Presidential Decree No. 24/2020). However, the result is the ministry structure was mixed, and overlapped. On 29 July 2021, the structure of the ministry and the board was amended with the issuance of Presidential Decree No. 63/2021 (Ministry of Investment)[8] and No. 64/2021 (Indonesia Investment Coordinating Board).[9] With the amendment, the structure and responsibilities between the ministry and the board are clearly separated, not mixed as before.

The ministry, as the Presidential Decree No. 63/2021 outlined, is the planning, regulating, and decision making of the investment policies in Indonesia. The ministry is organized in following manner:[8]

  1. Office of the Ministry of Investment (concurrent post with Chief of Indonesia Investment Coordinating Board).
  2. Office of the Deputy Ministry of Investment (concurrent post with Vice Chief of Indonesia Investment Coordinating Board).
  3. Office of the Ministry Secretariat
  4. Advisors to the Ministry:
    1. Enhancement of Investment Competitiveness
    2. Macroeconomy
    3. Institutional Relation
    4. Development of Investment Sector Priorities
    5. Equity and Partnerships in Capital Investment

List of ministers

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No. Minister Took office Left office Political party Cabinet
1 Sanyoto Sastrowardoyo 17 March 1993 14 March 1998 Golkar Party Development VI
16 March 1998 23 May 1998 Development VII
2 Hamzah Haz 23 May 1998 18 May 1999 United Development Party Development Reform
3 Marzuki Usman 18 May 1999 27 September 1999 Independent
– Muhammad Zuhal
(ad-interim) 		1 October 1999 20 October 1999
Office abolished from 20 October 1999 until 28 April 2021
4 Bahlil Lahadalia 28 April 2021 Incumbent Independent Onward Indonesia

See also

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References

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  1. ^ Budiman, Aditya (2021-04-09). "DPR Restui Keinginan Jokowi Bentuk Kementerian Investasi". Tempo (in Indonesian). Retrieved 2021-04-09.
  2. ^ Ramadhan, Ardito; Rastika, Icha (2021-04-09). "DPR Setujui Pembentukan Kementerian Investasi serta Kementerian Pendidikan, Kebudayaan, Riset, dan Teknologi". KOMPAS.com (in Indonesian). Retrieved 2021-04-09.
  3. ^ Purba, Sampe L. (2021-04-10). "Sampe L. Purba : Selamat Datang Kementerian Investasi - Opini Katadata.co.id". katadata.co.id (in Indonesian). Retrieved 2021-04-10.
  4. ^ Al Faqir, Anisyah (2021-04-10). "BKPM Jadi Kementerian Investasi, Jejak Orde Baru yang Kembali Terulang". liputan6.com (in Indonesian). Retrieved 2021-04-10.
  5. ^ detikcom, Tim. "Ngabalin: Insyaallah Reshuffle Kabinet Pekan Ini!". detiknews (in Indonesian). Retrieved 2021-04-13.
  6. ^ Rizqo, Kanavino Ahmad (2021-04-28). "Ada Reshuffle, Ini Daftar Pejabat yang Dilantik Jokowi Hari Ini". detiknews (in Indonesian). Retrieved 2021-04-28.
  7. ^ Sekretariat Presiden, Biro Pers, Media dan Informasi (2021-04-28). "Presiden Jokowi Lantik Menteri Investasi, Mendikbudristek, dan Kepala BRIN". Presiden RI (in Indonesian). Retrieved 2021-04-28.{{cite web}}: CS1 maint: multiple names: authors list (link)
  8. ^ a b Peraturan Presiden RI Nomor 63 Tahun 2021 tentang Kementerian Investasi (Presidential Decree 63) (in Indonesian). President of Indonesia. 2021.
  9. ^ Peraturan Presiden RI Nomor 64 Tahun 2021 tentang Badan Koordinasi Penanaman Modal (Presidential Decree 63) (in Indonesian). President of Indonesia. 2021.
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