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West, Central Java lead efforts to lure investors
West Java and Central Java’s moves to lure investors are being made as Indonesia pushes efforts to boost investment, create jobs and stoke economic growth.
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Central Java Governor GanjarPranowo (center) witnesses the signing of a business cooperation agreement during the 15th Central Java Investment Business Forum (CJIBF) 2019 at Hotel Bidakara in Jakarta on Nov. 5.
T
he West Java and Central Java administrations are leading efforts to lure investors with their respective governors touring business forums and investment summits recently as President Joko “Jokowi” Widodo’s administration embarks on regulatory reforms to boost investment.
For West Java, which has historically connected itself with global trade and economy, Governor Ridwan Kamil differentiates his effort by preparing what he calls an “investment menu” for investors. The menu consists of the region’s strategic projects up for grabs, including transportation, drinking water management, waste management and regional development.
“We are practicing door-to-door marketing for West Java, not store-keeping [...] Store-keeping means waiting for people to come and buy,” Ridwan said on the sidelines of the West Java Investment Summit in Bandung on Oct. 18.
Apart from the October investment summit with business leaders and embassies, Ridwan has also visited several countries in the last few months as part of the regional administration’s efforts to lure investors, namely the United Kingdom in July as well as South Korea and Japan in November.
Central Java Governor Ganjar Pranowo has been branding his region as an ideal place for investment because of the low minimum wage, land availability and simple licensing process.
“The minimum wage of Rp 1.9 million [US$134.84] has made [the region] more attractive to investors than East Java, West Java, Banten and Jakarta. We must keep this condition and the [good] relations between the local administration, businesspeople and labor,” he said.
Realized investment into Central Java reached Rp 47.4 trillion from January to September this year, which represents 7.8 percent of nationwide realized investment and the third-highest investment flow in Indonesia. West Java came in first with Rp 102.1 trillion, followed by Jakarta with Rp 95.6 trillion (15.9 percent).
