PORTALJABAR, KAB. BANDUNG BARAT -

The West Java Provincial Government is offering 10 projects that have met the ready to offer requirements to potential investors at the 2023 West Java Investment Summit (WJIS).

West Java Governor Ridwan Kamil said the investment worth IDR 70 trillion focused on the green infrastructure sector and downstream industry.

"This year we are offering IDR 70 trillion in the form of green infrastructure and 10 locations for industrial downstreaming," said Ridwan Kamil after opening WJIS 2023 at Mason Pine, Kota Baru Parahyangan, West Bandung Regency, Wednesday (9/8/2023).

Kang Emil, his nickname, said that the investment realization per IDR 1 trillion was able to absorb a workforce of 1,000 people. This means that if the IDR 75 trillion investment is realized, it will absorb a workforce of up to 75,000 people.

"It will absorb a lot of labor, especially in the downstream sector, which previously was a raw export, now the factories are forced to be here, so there will be lots of jobs for the people of West Java," he said.

WJIS 2023 is the fifth since it was held in 2019. During these five years, the total investment realization for both PMA and PMDN amounted to more than IDR 800 trillion. Kang Emil said that 2022 would be the largest realization record, namely IDR 174.6 trillion.

"Over five years we have delivered more than IDR 800 trillion and last year's record was IDR 174.6 trillion. That's a lot of economic movement in West Java and the investment engine is like gasoline that drives the economy," he said.

Kang Emil revealed that there are three reasons why West Java is always the favorite for investors. Firstly, because the infrastructure is the most complete, especially now that nine new toll roads are being built. Second is a responsive bureaucracy. Investors are made easy to manage the licensing process.

"From only 8,000 permit applications in 2018, it jumped to 25,000 in 2022 and 2023. This means that we make licensing easier," said Kang Emil.

The third reason is that investors are attracted to West Java because of the consistent productivity and work competence of its citizens.

High investment in West Java has an impact on increasing economic growth. Last year West Java's economic growth was the best in Java, growing 5.45 percent. In the second quarter of 2023, West Java's economic growth will be above the national average, namely 5.17 percent.

"This means that with economic growth and investment always being the highest, whatever we see in West Java is increasing economic activity. Starting from the corporate scale to the poor, we are carrying out inclusive economic development," said Kang Emil.

"West Java is the best face of the Indonesian economy. Hopefully at the end of my term it will be remembered that this is a champion province in the economy," he added.

In the 2023 WJIS series, West Java Provincial Secretary Setiawan Wangsaatmaja explained to potential investors that the 10 projects being offered included the Special Economic Zone of LIDO, Electric Motorcycle Industry for Electric Vehicles, and Component Industries of Motor Vehicle's Brake System and Suspension System, Airplane Tire Industry from Natural Rubber, and Paracetamol, Clopidogrel and Amoxicillin Medicine Raw Material Industry.

Successfully Attracting Investment

Meanwhile, Deputy Governor of Bank Indonesia, Yuda Agung, said that WJIS had proven successful in attracting investment to enter West Java.

West Java Province has always been a favorite location for investment and is a champion in investment every year.

"One of the results of WJIS is the realization of the solar panel project built at the Cirata Purwakarta PLTA," said Yuda.

Yuda also added that BI provides conducive macroeconomic guarantees, stability and encourages banks to finance new investments.

"It is hoped that this will further trigger investment, especially in West Java," said Yuda.

His party is also committed to supporting investment in the renewable energy sector. "We also continue to encourage banks to finance projects offered in WJIS, especially renewable industry," emphasized Yuda.

(Source)