Jakarta (ANTARA) - The National Council for Special Economic Zones (KEK) has approved the proposal to establish six new KEKs and one expansion of the Nongsa KEK in Batam with a target investment value of IDR 1,089.84 trillion. Coordinating Minister for Economic Affairs Airlangga Hartarto said that the KEK development is expected to create more than 14 million jobs. "Regulations will soon be prepared for all of these SEZ proposals and we are targeting the relevant Government Regulations (PP) to be completed in the second week of October 2024," said Airlangga in his statement in Jakarta, Wednesday. The KEK National Council will recommend to the President the establishment of a PP on 6 new KEKs and an increase in area for the Nongsa KEK. The 7 SEZs proposed are the first, the Sidoarjo Halal Industry SEZ, which is located in Sidoarjo Regency, East Java Province. The KEK has a land area of 796.65 hectares and is designed to support the development of the manufacturing sector which focuses on halal products. The Sidoarjo Halal Industrial SEZ is targeting investment realization of IDR 97.8 trillion in 2054 with a target workforce of 317,670 people. The second proposal is the Batuta Chemical Industrial Park KEK in East Kutai Regency, East Kalimantan Province. This KEK is designed to be an industrial center that focuses on the manufacturing sector with a land area of 748.9 hectares. With a total potential workforce of 432,964 people, KEK BCIP has an investment realization target of IDR 61.51 trillion in 2054. The third proposal is the Patimban SEZ in Subang Regency, West Java Province. This KEK has a land area of 511 hectares with a total investment realization of IDR 141.6 trillion in 2054 with a target workforce of 156,154 people. Apart from the Patimban SEZ, the Subang SEZ which is also located in Subang Regency, West Java Province and is a manufacturing SEZ, this SEZ was proposed by PT Aneka Bumi Cipta to be the fourth proposed SEZ with a target of realizing investment in the Subang SEZ of IDR 134.59 trillion with a land area of up to 481.93 hectares. The fifth proposal, the Mangkupadi KEK is located in Bulungan Regency, North Kalimantan Province, is a proposal by PT Kalimantan Industrial Park Indonesia (KIPI). With a land area of 11,696.53 hectares. This KEK is targeted to absorb a workforce of 140,796 people and realize an investment of IDR 504 trillion. Sixth, KEK Batang Integrated Industrial Zone which is in Batang Regency, Central Java Province. This KEK targets investment realization to reach IDR 130.3 trillion with a land area of 2,886.87 hectares and a total workforce absorption of 325,651 people. Then seventh, the proposed land expansion in the Nongsa KEK covers an area of 22.43 hectares with an investment realization target of IDR 20.07 trillion. "The proposed expansion of the Nongsa KEK is to develop a data center where the proposer of this KEK is PT Taman Resor Internet with business activities from the Nongsa KEK, namely tourism, and research, technology development," explained Airlangga. (SOURCE)
Oct, 01 2024
BANDUNG, PRFMNEWS - The West Java Provincial Government has once again recorded a brilliant achievement by winning the first best award in the 2024 Investment Services Award (ALI). This award was given by the central government for the extraordinary performance of the West Java Provincial Government through the One Stop Integrated Services and Investment Service (DPMPTSP) in implementing One Stop Integrated Services (PTSP) and accelerating business implementation. This recognition reflects West Java's strong commitment to creating a conducive and friendly investment climate for business actors. In the 2024 Investment Services Award in the Provincial category, the West Java Provincial Government beat its two closest competitors, namely the Maluku Provincial Government as Second Best and the South Sumatra Provincial Government as Third Best. The award was received directly by the Acting Governor of West Java Bey Machmudin from the Minister of Investment/Head of the Investment Coordinating Board (BKPM) Rosan Perkasa Roeslani witnessed by the Minister of Home Affairs Tito Karnavian and the Minister for Administrative Reform and Bureaucratic Reform (PANRB) Abdullah Azwar Anas at Hotel Mulia, Jakarta, Monday 30 September 2024. Bey said that DPMPTSP's hard work was not in vain and this award showed that their performance was very good and not in vain. Bey hopes that investment can have a positive effect on alleviating a number of macro problems in West Java. "With the influx of investment, hopefully more jobs will be available. "And of course the West Java Provincial Government must also prepare its link and match program," he said. According to him, ALI 2024 should be a motivation to encourage continued innovation for better public services. "So the point is, don't just be satisfied with receiving this award, but you also have to continue to innovate. "The most important principle is that every West Java Provincial Government policy must be able to improve people's welfare," he said. The success and achievements of ALI 2024 cannot be separated from the various innovative programs carried out by the West Java DPMPTSP staff. Head of West Java DPMPTSP Nining Yuliastiani said these programs not only speed up the licensing process, but also facilitate access for business actors throughout the province. Some of the superior programs that have contributed greatly include: Provincial Integrated Service Center (P2TP): 1) This program provides integrated services to make it easier for the public and business actors to obtain permits and other services quickly and precisely. 2) Sakiceup Bos (Facilities for Business Actors to Work On the Spot): This service allows business actors, especially MSMEs, to get direct assistance from the government in processing permits at their business location. 3) Sampeurin UMK Car: Service car facility that specifically reaches micro, small and medium enterprises (MSMEs) in various remote areas of West Java, bringing services directly to where they are. 4) Cinematography of Investment Festival (CIFEST): An event to introduce investment potential in West Java through videography, as well as promote local MSEs. 5) West Java Investment Summit (WJIS): The largest investment exhibition in Indonesia which brings together investors with the government and business actors, creating opportunities for cooperation and strategic investment. 6) Investment Roadshow: This program brings various investment opportunities in West Java to the national and international level, encouraging the entry of new investment into various potential sectors. 7) Investment Challenge: An innovation competition that invites districts and cities in West Java to be actively involved in developing and promoting investment opportunities in West Java. This achievement is also reflected in West Java investment realization data which shows a positive trend. In 2023, West Java's total investment realization will reach IDR 210.6 trillion, with the largest contribution coming from the housing sector, industrial & office areas being the sectors with the largest investment realization. "Meanwhile, in the first semester of 2024, investment realization reached IDR 128.3 trillion, showing stable growth and optimism for the future of investment in West Java province," he said. Nining said this award further strengthens West Java's position as the main investment destination in Indonesia. According to him, the West Java Provincial Government, through DPMPTSP, is committed to continuing to improve service quality and opening up more opportunities for investors to contribute to regional economic development. (SOURCE)
Oct, 01 2024
Warta Ekonomi, Bandung - Consistently supporting West Java's investment growth performance, Bank Indonesia together with the West Java Provincial Government are holding the annual West Java Investment Summit (WJIS) flagship event for the sixth time by offering 170 potential projects to investors. WJIS 2024 carries the theme "Unleashing West Java Investment: Catalyst for Growth". This event was also attended by Acting. Governor of West Java Province, Head of Bank Indonesia Representative for West Java Province, Head of the One Stop Integrated Services and Investment Service (DPMPTSP), representatives of related Ministries/Institutions, West Java Regional Leadership Communication Forum, representatives of friendly countries, investors and project owners, financial institutions , corporations and other stakeholders. The series of WJIS activities began with a keynote speech delivered by the Deputy Governor of Bank Indonesia, Doni Primanto Joewono; Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan; and Plh. Deputy for Investment Promotion at the Ministry of Investment/Investment Coordinating Board, Saribua Siahaan. In the last five years, from 2019 to 2023, WJIS has succeeded in promoting 121 investment projects from various regions in West Java with a total investment value of more than IDR 614.43 trillion. The WJIS 2024 event presents 170 potential projects, and more than 40 ready-to-order projects worth a total of IDR 117 trillion. The investment value is higher than the implementation of WJIS 2023 which reached IDR 76 trillion. Deputy Governor of Bank Indonesia, Doni Primanto Joewono, explained three important roles of Bank Indonesia in encouraging investment as a source of sustainable economic growth. First, promoting investment both at home and abroad through synergy with various stakeholders to encourage sustainable economic growth. Second, integration of investor relations at regional, national and international levels. Third, Local Currency Transaction (LCT) as an effort to simplify international payment transaction mechanisms to make it easier for investors to invest and operate in Indonesia. "Apart from that, the formulation of Bank Indonesia's reference interest rate is very influential in shaping the investment landscape in Indonesia," said Doni online, Thursday (19/9/2024) Doni revealed, from 2019 to 2023, 14 Regional Investor Relations Units (RIRU) of Bank Indonesia throughout the country have succeeded in promoting more than 200 investment projects from various regions in the archipelago, with a total investment value exceeding USD 53 billion. These projects have been showcased through a series of collaborative investment promotion activities, which were carried out synergistically between the Head Office, Overseas Representative Offices and Domestic Representative Offices of Bank Indonesia together with the Central Government and related Regional Governments. "Of the total projects being promoted, around USD 16.8 billion of investment has been realized," he said. Meanwhile, the Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, appreciated Indonesia's investment performance which in semester 1-2024 recorded significant growth. "This cannot be separated from the implementation of investment promotion activities, such as WJIS, which displays various strategic projects that attract the interest of foreign investors," he said. Luhut said that all the projects offered in WJIS 2024 have important value for the Indonesian economy, including regional interconnectivity such as the Cisumdawu toll road, Kertajati Airport and Patimban Port. "Currently, the government is focusing on strengthening the level of ease of investment, creating a conducive investment climate, and responding to various obstacles felt by investors," he said. Meanwhile, Plh. Deputy for Investment Promotion at the Ministry of Investment/BKPM, Saribua Siahaan, revealed that to accelerate investment in West Java, effective policy initiatives and collaboration are needed from the Government and related agencies. Fiscal and non-fiscal policies, including incentives that support the smooth and easy investment process, are very important. Saribua assesses that a conducive investment climate and legal certainty are also needed, along with the readiness of each project to be implemented. "West Java has become the main choice for foreign investment, especially those from Japan. This achievement needs to continue to be strengthened so that it contributes more optimally to a sustainable economy," he said. In line with that, the Acting Governor of West Java, Bey Machmudin, underlined that West Java's economic performance throughout the first semester of 2024 was good and stable, contributed by increasing investment realization, in line with the creation of an attractive investment climate. "The positive impact of incoming investment does not only stop with companies, but has a sustainable impact in creating jobs which is effective in reducing the unemployment rate," he said. This proves the importance of investment, both on the upstream and downstream sides, so that in the end it can support the development of overall economic transformation and improve community welfare. "The 2024 WJIS series also becomes a forum for important commitments made between project owners and foreign and local investors," he said. This was proven by holding a one-on-one meeting which was followed up with the signing of a Memorandum of Understanding (MoU) on various investment projects totaling around IDR 2.3 trillion, namely: (1) MoU between the Sukabumi Regency Government and CV Menata Citra Selaras regarding cooperation to increase productivity and downstream rice in Kab. Sukabumi worth IDR 1.5 trillion; (2) MoU between PT Tirta Gemah Ripah and PT Tigalapan Investama Group regarding water management worth IDR 300 billion; (3) MoU between PT Migas Utama Jabar and PT Subang Energi Abadi regarding energy management in West Java worth IDR 360 billion; And (4) MoU between Anaab Pte. Ltd from the United Arab Emirates and Perumda Air Minum Tirta Rangga Subang regarding the clean water supply project for the Patimban Port Area, Industrial and Domestic Zones in the District. Subang worth IDR 127 billion. Apart from that, in order to improve the quality of human resources in accordance with employment needs, an MoU was also signed between the West Java Provincial Government and PT Hyundai Motor Manufacturing Indonesia regarding the implementation of the Hyundai Academy Course for Vocational Schools in West Java. WJIS 2024 is also the culmination of the 2024 West Java Investment Challenge (WJIC) series which has been taking place since the beginning of the year. WJIC successfully produced 26 new potential projects from all districts/cities in West Java. As a form of appreciation, 5 winners of WJIC 2024 were determined, namely: Subang Regency Government as Best Investment Project for National Strategic Program, Purwakarta Regency Government as Best Investment Project for Basic Needs & Social Welfare, Sukabumi Regency Government as Best Investment Project for Inflation Control, Ciamis Regency Government as Best Investment Project for Local Economic Downstream, and Garut Regency Government as Best Investment Project for Regional Tourism. On the same occasion, BI West Java demonstrated its "Dedication to the Country" commitment to overcome the industrial skills gap and support the green economy, in the form of providing assistance with infrastructure to support electric vehicle practicum to six vocational schools in West Java. "This support is a concrete step by West Java BI to help encourage investment in terms of preparing a competent workforce to meet future industrial needs in a sustainable manner," concluded the Head of West Java Bank Indonesia Representative, Muhamad Nur. (SOURCE)
Sep, 23 2024
Bisnis.com, BANDUNG -- Bank Indonesia West Java is holding the West Java Investment Summit (WJIS) again for the 6th time in 2024. Head of the Bank Indonesia West Java Representative Office, Muhamad Nur, said that this year's WJIS event will offer more and more projects to domestic and foreign investors. So it is hoped that this investment absorption will encourage an increase in West Java's economic performance and of course leverage the national economy. What's interesting, when the opening ceremony was held, there were already five projects that had entered into a Memorandum of Understanding (MoU) with investors. "Thank God, the 6th WJIS 2024 has quite a lot of projects, and that at the opening alone there were already five MoUs and later there will be a one on one meeting and this process is in collaboration with DPMPTSP," he said, after opening the WJIS with the theme "Unleashing West Java Investment Potencies", at the Trans Convention Center, Thursday (19/9/2024). The five parties who have entered into the MoU are CV Menata Citra Selaras, PT Tirta Gemah Ripah, PT Tigalapan Investama Group, PT Migas Utama Jabar and PT Subang Energi Abadi. Nur said, before today, his party together with the West Java Provincial Government had already implemented a number of steps. Namely, the West Java Investment Challenge, preparation of a feasibility study, West Java Investment Roadshow, and finally WJIS. "The next stage is also one on one meetings, so that more investors will come and more will realize the investment we are offering," he said. He is optimistic that if the investment climate conditions in West Java can continue to be maintained and even improved, then the economy in West Java will continue to grow. (SOURCE)
Sep, 23 2024
Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia today, Tuesday (3/9), officially opened the 7th Indonesia China Energy Forum (ICEF) in South Kuta, Bali. Indonesia stated its commitment to maintaining the stability of Chinese investment in the country so that it continues to run well. "I offer my fellow Chinese investors several potentials that we can develop together. This is the meeting to find the right formulation for joint business development," said Bahlil when opening the event. The energy sector, continued Bahlil, has a vital role in encouraging economic improvement and technological progress between the two parties. "We are committed to advancing common goals which include sustainable energy development, technological innovation and economic growth," he stressed. Bahlil mentioned the energy transition as a major breakthrough in realizing global commitments to achieve decarbonization. Indonesia even showed a serious attitude towards these efforts to the Chinese government. "We have developed a comprehensive Net Zero Emissions (NZE) Roadmap in the energy sector," he said. Regarding this, the Indonesian government offered collaboration opportunities to China. This offer is based on the large potential of New and Renewable Energy (EBT) resources owned by Indonesia, such as the Hydroelectric Power Plant (PLTA) in Kayan (13,000 MW) and Mamberamo, Papua (24,000 MW). "This is a potential that we offer to China to be able to collaborate together. We cannot do this alone," explained Bahlil. Another aspect that the government will focus on in the future is the existence of downstreaming that is oriented towards green energy and green industry. "The key to implementing this policy is the presence of electricity," added Bahlil. For this reason, based on the energy transition roadmap, the Indonesian government is implementing a strategy towards becoming carbon neutral from the supply side, such as focusing on solar, hydro, geothermal and hydrogen power plants. Apart from that, other steps taken are the gradual cessation of coal power plants, and the use of low-emission technology, namely CCS/CCUS technology. Meanwhile, from the demand side, these include the use of battery-based electric motorized vehicles, the use of biofuels, and the application of energy management. Cultivate a Sense of Comfort For Indonesia, the ability to achieve NZE by 2060 must still take into account the national context and conditions in each country. For example, Indonesia is still optimizing the development of fossil energy in line with massive progress in developing clean energy infrastructure. "We are currently studying, calculating and calculating domestic (energy) needs with economic geopolitics," said Bahlil. He believes that the cooperation and programs that have been produced under the bilateral framework between Indonesia and China continue to show significant progress. "There is no need to doubt this togetherness (cooperation). I believe that the first thing in investing is comfort. And Indonesia offers that sense of comfort," stressed Bahlil. In the future, the partnerships being forged in the energy sector must be mutually beneficial for both parties. "We will open the best possible space for doing business in Indonesia while still paying attention to the rules and must benefit everyone," he explained. The Indonesian government also expressed its appreciation to the Chinese government for holding this forum. "It is an honor for me to welcome all of you to Bali at the 7th Indonesia-China Energy Forum. I would like to express my appreciation to the Chinese delegation, especially to Administrator Zhang Jianhua for the cooperation in the energy sector that has been touring so far," concluded Bahlil. The Administrator of China's National Energy Administration (NEA), Zhang Jianhua, also conveyed the same thing. The Chinese government sees bright prospects for bilateral relations. "Indonesia and China in the (energy) development process have the same concept. We discussed strategic partnerships in influencing the international world market," said Zhang. The transfer of technology and human resources (HR) by China is expected to increase capabilities in managing domestic energy security. "Cooperation in the energy sector is solid cooperation to achieve success in people's welfare," he concluded. For information, Indonesia - China has a regular biennial bilateral forum, namely the Indonesia-China Energy Forum (ICEF) which is chaired by the Indonesian Minister of Energy and Mineral Resources and the Administrator of China's National Energy Administration (NEA). This forum was first held in 2002 and was attended by a number of government officials and Indonesian and Chinese business people. ICEF meetings have been held six times, with the 6th ICEF being held on 8-9 July 2019 in Beijing. After Indonesia hosted the 7th ICEF meeting this year, NEA China will next host the 8th ICEF in 2025. (SF) (SOURCE)
Sep, 23 2024
Bandung (ANTARA) - Acting Polish Ambassador to Indonesia Maciej Tumulec said that his party opened up opportunities to bring industry from the European country to invest in West Java in the renewable energy sector, vocational education, and the provision of agricultural machinery. In his meeting with the Acting Governor of West Java Bey Triadi Machmudin, on the sidelines of the 2024 West Java Investment Summit (WJIS) in Bandung, Thursday, Maciej expressed his interest in investment offers from West Java, such as in the field of renewable energy, especially in solar and geothermal energy which have great potential. . Then there is cooperation in the vocational education sector in an effort to increase the capacity of vocational schools, including students so they can match with the industrial world. As well as investment in the agricultural machinery sector, one of which is drying equipment as an effort to support the West Java Provincial Government's targets for certain commodities. When met after the meeting, Maciej admitted that apart from these sectors, he saw that West Java had several other potentials that were very attractive for investors to invest in. "In the meeting I wanted to explore the possibility of us investing in West Java which I see is very attractive for investors in the future. I see there are several sectors that are also interesting such as tourism, also electric vehicles, the agricultural sector, especially food processing where we are strong there, "Then waste management, I invite the Governor to explore this potential," said Maciej to ANTARA. Maciej admitted that currently they have invested in various Southeast Asian countries such as Vietnam, Malaysia, Singapore and the Philippines, but he still sees Indonesia as an attractive country for Polish industry. "And through WJIS 2024, we want to show that Indonesia is an interesting country for us because it has a very large population and economic dynamics. Therefore we hope that investors will also come here and see the possible investment potential that exists, including in education such as what was said earlier," he said. Despite various observations of the existing potential and the hope that investors in his country can invest in Indonesia, Maciej revealed that the decision regarding investment certainty rests with the investors themselves. "However, investors in Poland see Indonesia as a potential country for investing in various fields," he said. It is known that WJIS 2024 will be a presentation event for various strategic projects that are ready to be funded by investors covering various future needs. These strategic projects include the Water Supply System Project, Environmentally Friendly Energy Project, New Investment Area Project, Downstream Industry Project, as well as Agroindustry and Circular Economy. The investment realization targeted in the 2024 WJIS event is IDR 117.6 trillion, from 40 ready-to-work projects offered by West Java. (SOURCE)
Sep, 23 2024
Bisnis.com, BANDUNG - West Java Investment Summit (WJIS) 2024 confirms West Java's position in the green economic ecosystem which will be the future of the economy. Head of the West Java DPMPTSP, Nining Yuliastiani, said that during 2019 until the first semester of 2024, the flow of foreign and domestic capital continued to increase to West Java. Supported by 5 sectors that are always the favorites for investors, starting from the warehousing, transportation, telecommunications, motor vehicle industry, construction and others. West Java Province is ranked first in investment realization in Semester 1 - 2024 with a realized value of PMA and PMDN investment of IDR 128.3 trillion or an increase of 23.78% from 2023 in the same period. In practice, West Java has also been successful in accommodating investment in the electric vehicle sector from Hyundai, BYD, to Vinfast. BYD has confirmed that it will build a factory in the Subang Smartpolitan area on an area of 107 hectares, with an estimated investment value of US$ 1 billion. Meanwhile, the Vinfast company, which originates from Vietnam and operates in the automotive electric vehicle sector, has already carried out groundbreaking in the Subang area, with an estimated initial investment of US$ 200 million for market expansion to Indonesia. Nining said the presence of these EV manufacturers would boost the economy in the West Java region. "West Java will become the EV Hub in Indonesia, with investment plans reaching IDR 11 trillion, there will be 8,700 jobs opened once operations start in 2025," he said at the WJIS 2024 event, Trans Luxury Hotel, Bandung, Thursday (19/9/2024). Nining also ensured that West Java would become a home for investment in data centers and industry which was starting to move towards green industry. West Java, according to him, will provide full support for the implementation of the green economy. The opportunity for West Java to continue to be the main investment target was also expressed by the Head of Bank Indonesia West Java Representative, Muhammad Nur. According to him, West Java's economy will grow, supported by several factors even though there are still global geopolitical challenges that have an impact on the national and regional levels of West Java. According to him, the increase in optimism among business actors after one round of elections provides a positive signal for the investment climate in West Java. Bank Indonesia also explained that in the second quarter of 2024, the West Java economy grew 4.95%, an increase compared to the first quarter of 4.93%. Where, investment is still a sector to be proud of in West Java, because in the second quarter investment realization reached IDR 63.7 trillion and was the largest in Indonesia. For this reason, his party assesses that West Java's economic growth in 2024 is expected to remain high and be in the range of 4.6% - 5.4% (yoy). This optimism is based on domestic demand which remains strong in line with increasing social mobility and the potential impact of holding a democratic party on the aggregate economy. "Apart from that, West Java investment also continues to grow, even now it is the highest nationally," he concluded. (SOURCE)
Sep, 23 2024
Bandung - Acting Governor of West Java, Bey Machmudin revealed the wealth of both natural and human resources in his area. In front of investors at 'The 6th West Java Investment Summit 2024: Unleashing West Java Investment, Catalyst for Growth', Bey began by explaining the economic conditions in the second quarter of 2024 in West Java which are still relatively stable with a growth rate of 4.95 percent from 2024. to year. "Economic stability is supported by the investment sector with growth of 1.40%. There was an increase in investment realization between the first semester of 2023 and the first semester of 2024, which is directly proportional to the increase in labor absorption," said Bey in his speech before the audience in English, Thursday (19/9/2024) at The Trans Luxury Hotel Bandung. In addition, West Java is directed as a center for cutting-edge industrial innovation and global STEAM education, as well as a pillar of national food security. This has resulted in a large number of high-tech foreign investments in West Java. Investment in West Java, the future, is directed as a driving force in encouraging economic transformation to get out of the middle class trap (middle income trap). This is done by improving the investment climate, increasing the quality and competency of the workforce. "With foreign investment in West Java largely driven by high-tech industries, it is critical for the local workforce to prepare for the future and embrace new skills for a technology-driven economy," said Bey. Three Visions for West Java in 2045 He also revealed that there are three visions for West Java in 2045, namely having the highest level of progress and development compared to other provinces, having an advantage at world level in various aspects, and being able to ensure the preservation of natural resources and environmental quality with good governance in the long term. long. Bey also mentioned the continuation of new industrial city projects in the Rebana area that are ready to be launched, namely Cipali New Industrial Zone in Subang and Kertajati Aerotropolis in Majalengka. The West Java Provincial Government seems quite confident in the investor meeting agenda, by showing off 170 potential investments, 40 projects ready to be offered, and 37 existing project exhibitions. "We from the West Java Provincial government certainly express our gratitude and welcome to investors. Our target in this West Java Investment Summit is the targeted investment of IDR 117.6 trillion from a total of 40 projects being offered," said Bey. This agenda also saw the moment of four signing agreements, namely between the Sukabumi Regency Government and CV Menata Citra Selaras, PT Tirta Gemah Ripah and PT Tigalapan Investama Group, PT Migas Utama West Java and PT Subang Energi Abadi, as well as the West Java Provincial Government Secretariat and PT Hyundai Motor Manufacturing Indonesia. Apart from that, there were also awards in five regions as Best Investment Challenge. The Best Investment Project for the National Strategic Program was won by Subang Regency, the Best Investment Project for Basic Needs & Social Welfare was won by Purwakarta Regency, the Best Investment Project for Inflation Control was won by Sukabumi Regency, the Best Investment Project for Downstream Local Economy was won by Ciamis Regency, and the Best Investment Project for Regional tourism was achieved by Garut Regency. "Earlier, for example, when the MoU was signed, there were several technological improvements, such as in Sukabumi, the increase in rice productivity was worth 1.5 trillion. So we encourage investment to go to West Java, because only with investment can we open jobs and also increase economic growth in West Java," Bey hoped. So far, according to Bey, investor interest has been very good. He also seems optimistic that more foreign companies will invest in West Java, one of which is an automotive company from Vietnam. Not to mention various other countries outside the Asian continent. "I see that they are interested. Some are already convinced that they will invest from Vietnam, VinFast will be produced next year, it's an electric vehicle, so several areas such as Subang, Karawang and also BIJB Aerocity have started land acquisition of 1,600 hectares. So "Yes, for Kertajati there has been investment. So far, Japan, South Korea, China, Singapore, UAE, Australia, the Netherlands, Tanzania, Poland and Angola are interested," said Bey. On the other hand, Head of Bank Indonesia West Java Province Representative, Muhammad Nur said that this agenda was held regularly to attract and provide knowledge to potential investors. Everything was done for the sake of developing West Java Province. "Thank God, today we have opened our 6th WJIS activity in 2024, and there are quite a lot of projects on offer. The most important thing is that at the opening alone we already have 5 MoUs, later there will also be one on one meetings. Process "We have always collaborated with the ranks, through various activities, and we have also carried out something called an investment challenge," he said. "Hopefully we will be better prepared for the next event. So that later more investors will be able to realize the investments we have offered. So this is a very good collaboration and we hope this will continue to encourage economic growth in West Java Province," added Nur. Also present on the agenda was the Deputy for Investment Promotion at the Ministry of Investment, Saribua Siahaan. He, representing the central government, admitted that he was happy with the investor meeting to find out the potential in West Java. According to him, investors who come must be made easier and welcomed for the sake of the progress of West Java. Saribua also revealed that West Java is one of the places most favored by investors. "One of the ways the government convinces investors is through investment project ready to report. This means that when he is interested in a project, he can already calculate how much he actually wants to invest, what the IRR is, and how long it will take to develop. So that is "One certainty for investors before he decides, okay, I will invest in this sector, the location is here," said Saribua. "So this is the development of the best destination. It is proven that investment in West Java, especially Japan, is very large. 80% of investment from Japan is in West Java. So our collaboration between investment and West Java, the sociality of this capital receipt is very- very good," added Saribua. (SOURCE)
Sep, 23 2024
Bandung (ANTARA) - Acting Governor of West Java Bey Machmudin emphasized that efforts to boost investment have yielded sweet results in West Java's economic growth rate, which remains stable. Bey said, in terms of economic growth, West Java's economy remained stable in the second quarter of 2024, with an annual growth rate of 4.95 percent. "This stability is largely driven by the investment sector, which grew by 1.40 percent," he said at the 2024 West Java Investment Summit (WJIS) in Bandung, Thursday. This surge in investment has had a significant impact on labor absorption from 119,866 workers in the first half of 2023 to 185,967 workers in the first half of 2024. "These figures clearly show a direct relationship between investment realization and job creation," he said. Bey pointed out that investment realization in West Java jumped from IDR 103.6 trillion in the first semester of 2023 to IDR 128.32 trillion in the first semester of 2024. This increase shows the attractiveness of this province and its success in creating a good investment climate. "More importantly, this increase in investment has a direct impact on job creation," he said. In the first semester of 2023, as many as 119,866 people were absorbed into the world of work, and this number increased sharply to 185,967 people in the first semester of 2024. Because of this, Bey ensures that there is a direct relationship between investment and employment, showing the important role of investment in West Java's economic growth. According to him, West Java's economic development is not just about numbers, but also about improving the quality of life, opening up opportunities and building a better future. Since 2010, economic growth has been stable at 5-6 percent with per capita income ranging from 2,300 US dollars to 2,500 US dollars. "This progress continues, building a strong foundation for future development," he said. (SOURCE)
Sep, 23 2024
TIMENEWS.co.id – West Java Province has once again made a brilliant achievement by becoming the largest foreign investment destination in Indonesia. Based on the latest data, West Java recorded investment realization from investors of USD 8.28 billion or equivalent to IDR 123.48 trillion this year. This achievement places the province in the top position as a favorite for foreign investors, ahead of other provinces in Indonesia. West Java's success in attracting investor interest cannot be separated from various supporting factors that make it a very attractive region for investment. Increasingly developed infrastructure, easy accessibility and quality human resources are the main attractions. Apart from that, the provincial government which is proactive in supporting the investment climate through various investor-friendly policies also plays a role in increasing investor interest. Leading Sectors Several leading sectors that are excellent for investors in West Java include manufacturing, technology, property and infrastructure. The manufacturing sector, especially the automotive, electronics and textile industries, remains the backbone of West Java's economy. Many multinational companies choose to set up factories or expand in industrial areas in this province, especially in the Bekasi, Karawang and Cikarang areas. Apart from that, the technology sector is also showing rapid development, with many startups and technology companies starting to see the potential of West Java as their operational base. The area around Bandung, which is also known as a center for education and research, has become a center for technological innovation that attracts investors from various countries. The support of the West Java provincial government under the leadership of Governor Ridwan Kamil is one of the key factors in the province's success in attracting investment. With massive infrastructure development initiatives such as the construction of toll roads, airports and ports, West Java is increasingly integrated with major markets, both at home and abroad. Large projects such as the construction of the Patimban Port in Subang also open up opportunities for West Java to become an import-export gateway in Indonesia. Not only that, tax incentive policies, simplifying licensing, and efforts to speed up bureaucracy through digital systems also make it easier for investors to run business in West Java. All these steps create a conducive and efficient business climate, thereby increasing the province's competitiveness in the eyes of global business players. Future Prospects With the success of recording large investment realizations, West Java's economic prospects in the future look very promising. Apart from making a significant contribution to national economic growth, this investment flow is also expected to create new jobs and improve the welfare of local communities. The development of various industrial areas, infrastructure projects and initiatives in the digital sector will encourage more inclusive and sustainable economic growth. Overall, West Java's success in becoming a favorite for foreign investment in Indonesia is the result of good collaboration between local government, business people and the community. With a strong foundation and a commitment to continue increasing its investment attractiveness, it is not impossible that West Java will continue to be a major destination for investors in the next few years, further strengthening its position as one of the most important provinces in Indonesia. West Java's achievement in attracting foreign investment of IDR 123.48 trillion shows how strong the attraction of this province is for investors. Quoted from YouTube creative Hamdi, Thursday 19 September 2024. With capable infrastructure, progressive government support, and broad economic potential, West Java now stands as one of the leading centers of economic growth in Indonesia. In the future, it is hoped that West Java's success will further strengthen the role of this province as a driving force for the national economy and create more equitable prosperity for the community with investment and investors. (SOURCE)
Sep, 20 2024
Bandung (ANTARA) - Head of the West Java Province Investment and One-Stop Integrated Services Service (DPMPTSP), Nining Yuliastiani, revealed that the 2024 West Java Investment Summit (WJIS) will be attended by 10 countries with an investment realization target of around IDR 117.6 trillion. These ten countries, continued Nining, have been confirmed to take part in the exhibition on September 19 2024 by presenting a total of 210 investment projects in West Java consisting of 170 potential investments and 40 projects ready to offer or ready to be worked on. "Like Singapore, then China, South Korea, Japan. From Europe there are the Netherlands, Poland, Azerbaijan, besides that, Afghanistan and Angola and Australia," said Nining after the Bewara West Java (BEJA) Volume 10 event entitled WJIS 2024 at Gedung Sate Bandung , Tuesday. He continued that there are six project categories offered through WJIS 2024, namely infrastructure connectivity, most of which are in the Rebana area, namely Kertajati Aerocity. "Including us offering the Pakuan tram in Bogor, which was then offered by the regional government, this is also good," he said. Next, said Nining, regarding the water supply system in the Rebana and South Bandung areas, which is also being offered to investors. "Then there is a project for a new industrial area. This is because they see our success in offering the Subang Smartpolitan industrial area," he said. Not only that, agro-industry involving MSMEs is also offered, such as coffee products, then zero emission clove production. In meeting the global need for quality cloves, through sophisticated equipment. "Then downstream projects, namely downstreaming, we also offer here," he said. Of all that, Nining added that his party is targeting and hoping for a realization of investment of around IDR 117.6 trillion in efforts to support the development of West Java. Likewise, Deputy Head of the West Java Bank Indonesia Representative Office, Muslimin Anwar, said that with a large investment value of IDR 117.6 trillion, the 2024 WJIS activities must be fully supported. "But apart from that, there are investment challenges for 27 cities/districts, which the regional government hopes can explore their potential to offer to investors so that later, it will have an impact on maintaining economic stability in West Java. Therefore, this activity must be fully supported," said Muslim. (SOURCE)
Sep, 20 2024
Bandung (ANTARA) - Head of the West Java Investment and One Stop Integrated Services Service (DPMPTSP) Nining Yuliastiani said the 2024 West Java Investment Summit (WJIS) was a confirmation of West Java's position in the green economic ecosystem which is predicted to become the economy of the future. This, he said, on the sidelines of WJIS 2024, Thursday, could be seen from the increasing number of investments entering the electric vehicle sector, from Hyundai, BYD, to Vinfast. BYD, he said, has confirmed that it will build a factory in the Subang Smartpolitan area on an area of 107 hectares with an estimated investment value of one billion US dollars. Meanwhile, the Vinfast company which originates from Vietnam and operates in the electric vehicle sector has laid the first stone in the Subang area with an initial investment of US$ 200 million for market expansion to Indonesia. "With the presence of EV manufacturers, West Java will become the EV Hub in Indonesia, with investment plans reaching IDR 11 trillion, there will be 8,700 jobs opened once operations start in 2025," said Nining. Nining also ensured that West Java would be a home for investment in the data center sector, and industries that are moving towards green industry with their implementation will definitely be fully supported by the government. The opportunity for West Java to continue to be the main investment target was also expressed by the Head of Bank Indonesia West Java Representative, Muhammad Nur, who revealed that the economy in West Java would grow, supported by several factors even though there were still global geopolitical challenges that had an impact on the national and regional levels of West Java. According to him, the increase in optimism among business actors after one round of elections provides a positive signal for the investment climate in West Java. Bank Indonesia also explained that in the second quarter of 2024, the West Java economy grew 4.95 percent, an increase compared to the first quarter of 4.93 percent. Investment itself is still a sector that West Java can be proud of, because in the second quarter investment realization reached IDR 63.7 trillion and was the largest in Indonesia. For this reason, his party assesses that West Java's economic growth in 2024 is expected to remain high and be in the range of 4.6 percent to 5.4 percent on an annual basis (year on year/yoy). This optimism is based on domestic demand which remains strong in line with increasing social mobility and the potential impact of holding a democratic party on the aggregate economy. "Apart from that, West Java investment also continues to grow, currently even being the highest nationally," he said. Nining explained that from 2019 to the first semester of 2024, the flow of foreign and domestic capital continued to increase to West Java, especially in five sectors that have always been the favorites for investors, starting from the warehousing, transportation, telecommunications, motor vehicle industry, construction and others. West Java Province is ranked first in investment realization in Semester 1 of 2024, with the investment realization value of Foreign Investors (PMA) and Domestic Investors (PMDN) amounting to IDR 128.3 trillion or an increase of 23.78 percent from 2023 in the same period . (SOURCE)
Sep, 20 2024
Jakarta, CNBC Indonesia - The Ministry of Public Works and Public Housing (PUPR) has targeted 34 PUPR projects to be implemented through the Government Cooperation with Business Entities (KPBU) scheme by 2025. Of this total, at least 10 toll road and bridge projects are included in the plan. Of the 10 toll road projects, three have entered the transaction stage with an investment value of IDR 91.99 trillion. The Gedebage-Tasikmalaya-Ciamis (Getaci) toll road, which will be the longest toll road on the island of Java, will enter the transaction stage in 2025. "For those in the transaction stage in 2025 in the road and bridge sector, there are 3 toll road projects with a length of 265.5 km with an investment value of IDR 91.99 trillion, namely the Gedebage-Tasikmalaya-Ciamis (Getaci) Toll Road, the Gilimanuk-Mengwi Toll Road, and the South Sentul-West Karawang Toll Road," said PUPR Director General of Infrastructure Financing Triono Junoasmono in a written statement, Monday (9/9/2024). Furthermore, seven of them are still in the preparation stage with an investment value of IDR 124.02 trillion. Meanwhile, three toll road projects. The Ciranjang-Padalarang Toll Road, Bandung Inner City Toll Road, Pejagan-Cilacap Toll Road are three of the seven that are already in the preparation stage. Previously, Triono said that of the 34 projects that will be implemented through the Government Cooperation with Business Entities (KPBU) scheme in 2025, ten are toll road projects, 14 PPP projects are in the Water Resources (SDA) sector, seven are PPP projects in the residential sector, and three housing sector PPP projects. (SOURCE)
Sep, 20 2024
KONTAN.CO.ID - JAKARTA. Investments in the new and renewable energy (EBT) sector, especially geothermal energy, aka geothermal, are increasingly being attracted by investors. Five companies, such as Sinarmas and Medco, are also securing geothermal assets with a total investment of IDR 27 trillion. The Ministry of Energy and Mineral Resources (ESDM) announced 5 winners of the auction for Geothermal Working Areas (WKP) and Preliminary Survey and Exploration Assignment Areas (WPSPE) in 2024. In detail, there are 320 megawatts (MW) of geothermal potential that will be exploited by 5 companies with a total investment of US$1.82 billion (equivalent to IDR 27.91 trillion assuming the current exchange rate). "Mr President will respect the determination of domestic and foreign business entities as auction winners for 7 geothermal areas," said Minister of Energy and Mineral Resources Bahlil Lahadalia, Wednesday (18/9). The Ministry of Energy and Mineral Resources also announced the results of the bid for 7 Geothermal Working Areas and Preliminary Survey and Exploration Assignment Areas (WPSPE), namely: WKP Cisolok-Sukarame 40 MW. Winner PT Daya Anugrah Sejati Utama, a subsidiary of Sinarmas. Investment US$ 210.5 Million WKP Nage 40 MW. Winner PT Daya Anugerah Sejati Utama, a subsidiary of Sinarmas. Investment US$ 205.7 Million Hu'u Daha WKP 60 MW. Winner PT Sumbawa Timur Mining. Investment US$ 404.4 Million WKP Toka Tindung 40 MW. Winner PT EDC Indonesia. Investment of US$ 228 Million WPSPE Koto Sani Tanjung Bingkung 40 MW. Winner PT EDC Indonesia. Investment 228 Million WPSPE Bora Pulu 40 MW. Winner PT Medco Power Indonesia. Investment of US$ 229 Million WPSPE Samosir 40 MW. Winner PT Medco Power Indonesia. Investment of US$ 202 Million Trim Licensing Duration To encourage investment in the geothermal sector, the Government is considering relaxing investment licensing in the geothermal sector. This licensing relaxation will provide fresh air to accelerate the construction of Geothermal Power Plants (PLTP). The granting of this permit relaxation is to accelerate geothermal development by speeding up licensing times which is considered to be one of the current obstacles. This permit relaxation is granted because investment in the geothermal sector has complicated permits that require quite a long time, making investors in this sector less interested. President Joko Widodo said that it would not be strong if you had to be an investor who had to wait 5-6 years to start PLTP construction in Indonesia. Jokowi admitted that he was surprised because so far geothermal development in Indonesia has not proceeded quickly. In fact, Indonesia has large geothermal potential, namely 24 gigawatts (GW). Apart from that, many investors are starting to look at developing new and renewable energy “Imagine just 5 - 6 years to start construction. That's if people are impatient, if investors are impatient, it's impossible to do it, wait up to 6 years. If I'm not strong. "I am, even though many say I am patient, waiting 6 years is not strong enough," said Jokowi at the IIGCE 2024 agenda in Jakarta, Wednesday (18/9). Likewise, Minister of Energy and Mineral Resources Bahlil Lahadalia said that Indonesia has the largest geothermal potential in the world at 40% or the equivalent of 24 Giga Watt (GW). Currently, PLTP capacity has reached 2.6 GW or the second largest in the world. Meanwhile, PLTP electricity capacity reaches 18.5% of the total national New and Renewable Energy (EBT) electricity. The construction of the PLTP has created approximately 900 thousand jobs and is able to contribute approximately IDR 16 trillion to the country. PLPN continues to grow with a 10% increase in the potential utilized by Indonesia. On the other hand, said Bahlil, there are still several issues that make the use of geothermal energy the main challenge. Bahlil said that the requirements and permits in the EBT sector are complicated and take a long time, causing doubts for investors. "We will cut both terms and time to encourage investors to accelerate investment. So investors don't need to hesitate. I have reported that President Jokowi and President Prabowo will carry out various constructive reform steps in acceleration," said Bahlil. Bahlil said that the exploration time for geothermal fields takes 2-3 years, construction can only be carried out in the 6th year, this creates obstacles for Indonesia to achieve Net Zero Emission (NZE) 2060. (SOURCE)
Sep, 20 2024
JAKARTA – The number of sharia stock investors on the Indonesia Stock Exchange (BEI) experienced significant growth until early September 2024. Based on data collected from Sharia Online Trading System (AB-SOTS) Exchange Members as of September 9 2024, the number of sharia stock investors increased by 240% in in the last five years, from 44,536 investors in 2018, to 151,560 investors in July 2024. From a geographical perspective, as of June 2024, at least the 6 largest regions on the island of Java still dominate the distribution of sharia investors, led by DKI Jakarta (18%), West Java (14%), East Java (12%), Central Java (9%), DI Yogyakarta (6%), and Banten (4%). Meanwhile, Aceh province is a 'Special Region' whose requirements for the application of Islamic sharia law still contribute 3% of the total sharia investors as of June 2024. In terms of transactions, as of September 9 2024, the average daily volume of stock transactions included in the Indonesian Sharia Stock Index (ISSI) has reached 76% of the total transaction volume on the IDX. The total value of sharia share transactions in the first half of 2024 has reached IDR 2.2 trillion, with a volume of 5.8 billion shares. A number of Java regions still control the majority of transactions. Even though it is not included in the top 10 largest sharia investors, East Kalimantan province actually rose to 6th place, with total transactions of IDR 60.89 billion, overtaking DI Yogyakarta in 7th place. The increase in the number of sharia stock investors cannot be separated from a series of product development innovations in the sharia capital market, one of which is waqf products. (SOURCE)
Sep, 12 2024
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