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View all search resultsBatang industrial park aimed at luring FDI
With many companies looking to relocate from China to other countries, Indonesia is rushing to bring investment to the archipelago after failing to do so last year.
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P
resident Joko “Jokowi” Widodo’s administration is developing Batang Integrated Industrial Park in Central Java to get foreign companies to invest in and relocate to Indonesia amid a foreign direct investment (FDI) slump.
To develop the industrial zone, the government has established a team comprising the Investment Coordinating Board (BKPM) the State-Owned Enterprises Ministry, the Industry Ministry, the Public Works and Housing Ministry and the Transportation Ministry.
State-owned construction company PT Pembangunan Perumahan (PP), state-owned toll road operator PT Jasa Marga and toll road developer PT Waskita Toll Road will also join the team.
BKPM investment promotion deputy Ikmal Lukman said on July 7 that the team aimed to complete the park’s development plan this month as the BKPM wanted construction to finish in just six months.
The government is pushing forward the development to speed up the recovery of FDI inflow, which was down by 9.2 percent year-on-year to Rp 98 trillion (US$6.8 billion) in the first quarter of 2020.
With many companies looking to relocate from China to other countries, Indonesia is also rushing to bring investment to the archipelago after failing to do so last year.
Jokowi announced in late June that seven foreign companies had confirmed plans to relocate production facilities, mostly from China, to Indonesia. For investors who had not yet procured land for their facilities, he offered Batang Industrial Park as a location.
