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)