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Batam investment realization reaches Rp 7.4 trillion in Q1 2024
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nvestment realization in the city of Batam, Riau Islands province, recorded significant growth in the first quarter of 2024 to Rp 7.45 trillion (US$454,900), according to the Indonesian Investment Coordinating Board (BKPM).
Of the total investment, Rp 5.73 trillion came from foreign direct investment (FDI) and Rp 1.71 trillion from domestic investment (DI). The figure also marked 85 percent year-on-year growth in investment realization from the same period in 2023.
Muhammad Rudi, chairman of the Batam Indonesia Free Zone Authority (BP Batam), expressed optimism that the investment value of Batam would continue to increase from 7.04 percent at present to 7.5 percent or even 8 percent by the end of 2024.
Rudi also emphasized that BP Batam remained committed to providing ease of licensing and best services to investors while enhancing other facilities to support the investment climate in the region.
Several new strategic projects are being developed to achieve Batam's 2024 investment target. The principal project is the Batam International Health Tourism Special Economic Zone (SEZ), which has received the approval of Coordinating Economic Minister Airlangga Hartanto. Health services delivery comprises the main activity of the health tourism SEZ, which also has plans to build an international hospital, an international nursing academy, a MedTech Park and MICE (meetings, incentives, conventions and exhibitions) facilities.
A second project is the Tanjung Sauh SEZ for hosting businesses in manufacturing and processing, energy development and logistics and distribution, while a third project is the Rempang Eco-City, a national strategic project (PSN) that aims to develop Rempang Island and surrounding areas into an industrial, trade and tourism zone.
