BANDUNG, KOMPAS.com - Investment in West Java in 2029 is targeted to reach IDR 593 trillion. This target is considered to be able to boost economic growth in West Java by up to 8 percent.

"It must be able to reach IDR 593 trillion in 2029," said the Head of the West Java Investment and One-Stop Integrated Services Service (DPMPTSP), Nining Yulistiani, in a release received by Kompas.com, Friday (13/12/2024).

Nining explained that the investment pocketed by West Java in 2023 is IDR 210.6 trillion. To meet the national target of 8 percent economic growth, it is necessary to increase investment gradually.

In the 2025 Economic Outlook, Nining revealed, to achieve the national investment target of IDR 3,500 trillion in 2029, West Java is required to contribute 16 percent of total national investment.

With strategic efforts and increasing investment attractiveness, it is hoped that West Java can answer this challenge and become a driving force for the national economy.

Investment Challenges

"Even though West Java is known as the largest investment destination in Indonesia, many challenges arise, especially in ensuring that investment has a positive impact on reducing unemployment and poverty levels," he said.

Data shows that districts/cities with many industries actually have high unemployment rates. Meanwhile, areas with minimal investment, such as the eastern and southern parts of West Java, have low unemployment rates but high poverty rates.

"West Java's position compared to other provinces is in 25th position out of 38 provinces with low middle income. "Well, that's the position that we then see that West Java still has many challenges and then they must be answered with incoming investment," he explained.

Apart from that, global challenges also influence it. According to Nining, global investment trends such as greenfield projects show a decline in developing countries.

However, opportunities remain, especially in the renewable energy sector, global value chains-based manufacturing, and the agri-food system.

“Opportunities in the renewable energy and intensive industrial sectors are still wide open. "We are optimistic that West Java can maintain its position as the main investment destination in Indonesia," he stressed.

(SOURCE)