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West Java remains one of Indonesia’s top investment destinations
Tens of trillions of rupiah in investment commitments were made during the 2019 West Java Investment Summit (WIJS) recently held by the provincial administration in cooperation with the local office of Bank Indonesia.
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The Karawang industrial estate is one of the major industrial estates in West Java and popular with both local and foreign investors. (kompas.com/File)
Tens of trillions of rupiah in investment commitments were made during the 2019 West Java Investment Summit (WIJS) recently held by the provincial administration in cooperation with the local office of Bank Indonesia.
West Java Governor Ridwan Kamil said as many as 23 business partnership agreements had been signed by domestic and foreign companies during the investment summit, with commitments totaling Rp 53.8 trillion (US$3.8 billion).
The large investment commitments made during the summit on Friday indicate that West Java, which is home to large industrial zones, remained one of the country’s top investment destinations, he said.
The annual investment summit has become an effective business forum for business players in the country, including industrial estate developers and foreign investors, to explore opportunities and form business partnerships, Ridwan said at the event.
Ridwan expected the commitments to be followed up with concrete action that would create at least 30,000 jobs for residents. Three types of investment commitments were made during the summit: investment in the manufacturing industry, investment in regional development projects, and public-private partnership (PPP) investment in infrastructure projects.
He claimed that the investment commitments had risen sharply from the same event last year, partly due to his visits to various countries in the first year of his tenure as West Java governor, where he met executives of large companies to promote investment opportunities in the province.
The partnerships signed during the investment summit include a Rp 2 trillion partnership between PT West Java International Airport-Aerocity Development and China-based Homnicen for the development of the Business II and Creative Technology Center; a Rp 3.6 trillion partnership between PT Tirta Gemah Ripah, PT Adaro Tirta Mandiri, Adhi Karya, and PT Manila Water Indonesia for the development of drinking water treatment in West Java; and a Rp 2 trillion partnership between five notable hotel groups including AccorHoyels, Sahid Group and Sintesis for the development of the Pangandran special economic zone.
