JAKARTA: Indonesia is drafting ambitious plans for more than $400 billion in building projects, from constructing 25 airports to new power plants, as the government seeks to stoke growth in Southeast Asia’s largest economy, according to the country’s planning minister.
The sweeping proposal calls for a record 5,957 trillion rupiah in investments from 2020 to 2024, Minister Bambang Brodjonegoro said in an interview this week.
“The only way for Indonesia to have higher economic growth is connectivity,” Brodjonegoro said in Jakarta. Several projects have been shelved or delayed, even as bodies including the World Bank have warned of a massive infrastructure gap limiting economic growth. The ministry is preparing final documents on the investment plan to present to the president for approval, a ministry spokesman said.
According to the draft plan, about 17% of the infrastructure spending will go toward energy, followed by 10% for irrigation.
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