Investment Increases. BI Calls West Java Successful in Creating a Harmonious Investment Climate
This also had a significant impact on the economy of West Java, along with the total employment of 253,424 people, with the number of Investment Activity Reports (LKPM) amounting to 94,469 LKPM.
With these achievements, coupled with maintained household consumption and the performance of leading economic sectors, West Java's economic growth in 2023 will grow by 4.7-5.5% (yoy).
Deputy Chief Representative of Bank Indonesia for West Java Province, Bambang Pramono, said that success in creating a harmonious investment climate was the key to realizing West Java investment soaring in 2023.
"There is a necessary condition in creating a conducive and trustworthy investment climate for investors," said Bambang after being a resource person at the Bewara West Java (Beja) event at Gedung Sate, Bandung City, Tuesday (30/1/2024).
Apart from that, continued Bambang, high investment realization also plays an important role in encouraging West Java's economic growth in line with the Incremental Capital Output Ratio (ICOR) value which is relatively stable from year to year.
According to him, policy makers and stakeholders in West Java need to make various proactive and innovative efforts in identifying potential projects that are currently of interest to foreign investors, especially for potential investors who are looking for safe and comfortable investment fund placement options.
Meanwhile, Acting Regional Secretary of West Java Province, Taufiq Budi Santoso, at the opening said, the positive achievement of West Java investment was the result of synergy, commitment and support from all parties, including the West Java Provincial Government together with Bank Indonesia West Java.
"This achievement also gives a message to the public that investment is one of the driving forces of the economy in West Java. However, in the future, the realization of this superior investment, in addition to competitive ones such as the West Java International Airport, requires efforts to be made evenly distributed throughout the region. West Java," said Taufiq Budi.
According to Taufiq Budi, this is also in line with the investment distribution map in West Java which is concentrated in the northern part such as Kab. Bekasi (25%) to Kab. Karawang (22%).
Welcoming 2024, West Java Province is optimistic about achieving the national investment realization target which is set to increase by 17.9%.
In achieving this target, synergy between stakeholders regarding investment in West Java will be increasingly strengthened.
Furthermore, downstream policies are also directed at industries based on regional potential and leading sectors in order to create more jobs and increase the competitiveness of MSMEs in the global value chain.
With investment performance and support from domestic demand remaining strong in line with increasing community mobility and the high multiplier effect of the political year on the aggregate economy, West Java's economic growth in 2024 is predicted to remain high and be in the range of 4.9% - 5.7% ( yo).(SOURCE)
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