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)