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Batam Investment Realization Reaches Rp 7.4 trillion in Q1 2024
Front Row (The Jakarta Post) July 3, 2024
Illustrative photo of workers in BP Batam. (The Jakarta Post).
Investment realization in the Batam City, Riau Islands Province, recorded significant growth in the first quarter of 2024 to Rp7.45 trillion (US$454,900) according to the Indonesian Investment Coordinating Board (BKPM).
Of the total investment, Rp5.73 trillion came from foreign direct investment and Rp 1.71 trillion from domestic investmen. The figure also marked 85 percent year-on-year (yoy) growth in investment realization from the same period in 2023.
Batam Free Trade and Free Port Zone Authority (BP Batam) Chairman Muhammad Rudi expressed optimism that the investment value of Batam would continue to increase from 7.04 percent at present to 7.5 percent or even 8 percent by the end of 2024.
Rudi also emphasized that BP Batam remained committed to providing ease of licensing and best services to investors while enhancing other facilities to support the investment climate in the region.
Several new strategic projects are being developed to achieve Batam's 2024 investment target. The principal project is the Batam International Health Tourism Special Economic Zone (SEZ), which has received the approval of Coordinating Economic Minister Airlangga Hartanto. Health services delivery comprises the main activity of the health tourism SEZ, which also has plans to build an international hospital, an international nursing academy, a MedTech Park, as well as meetings, incentives, conventions and exhibitions (MICE) facilities.
A second project is the Tanjung Sauh SEZ for hosting businesses in manufacturing and processing, energy development and logistics and distribution, while a third project is the Rempang Eco-City, a national strategic project (PSN) that aims to develop Rempang Island and surrounding areas into an industrial, trade, and tourism zone.
Source: www.thejakartapost.com
