Getting the Numbers Right
BKPM wants accurate data from BPS to guide investors
By The Jakarta Post
Tuesday, August 9, 2016
The Investment Coordinating Board (BKPM) and the Central Statistics Agency (BPS) have signed an agreement on the provision of more valid and reliable data to develop investment.
BPKM head Thomas Lembong highlighted how critical the accurate data was to BKPM because incorrect data could lead to wrong guidance. “We want to use the information from the BPS to encourage investors to invest in more profitable sectors,” he said in Jakarta on Monday.
He explained that, according to BPS data, the service sector has been growing faster than economic growth, therefore he suggests that investors invest in that sector. Tourism among the promising sectors, Thomas added.
The BKPM also suggested that investors look at investment outside Java, such as in West Nusa Tenggara (NTB) and East Nusa Tenggara (NTT), as the regions’ gross regional product (PDRB) increased higher than Java’s PDRB.
BPS data shows Bali and Nusa Tenggara regions in the second quarter of this year reached around 7.3 percent growth in PDRB, while Java’s PDRB in the same period was about 5.7 percent.