PORTALJABAR, BANDUNG CITY - This year the West Java Provincial Government is expected to receive a mandate for an investment realization target of IDR 250 trillion from the Ministry of Investment/BKPM.

According to the Head of the West Java Investment and One Stop Integrated Services Service (DPMPTSP), Nining Yulistiani, the amount of West Java investment is around IDR 247 trillion - IDR 250 trillion which will be the national target.

"I am optimistic that we can achieve that, seeing that every year we can exceed the target and of course because West Java has many things that support increased investment," Nining Yulistiani said at the BEJA (Bewara West Java) event, Vol. 2, at Gedung Sate Bandung, Tuesday (30/1/2024).

Taking the theme 'West Java Investment Report 2023 and Economic Outlook 2024', BEJA also presented Acting Regional Secretary of West Java Province Taufik Budisantoso and Deputy Head of Representative

Bambang Pramono Bank. Also present were the Chairman of the West Java Chamber of Commerce and Industry Cucu Sutara and the Chairman of the West Java Apindo Ning Wahyu Astutik.

Taufiq Budi Santoso said that 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 provides a message to the public that investment is one of the driving forces of the economy in West Java. In the future, investment realization needs to be accompanied by equalization efforts.

This is in line with the West Java investment distribution map which is concentrated in the northern part, such as Bekasi Regency (25 percent) to Karawang Regency (22 percent).

Nining added that West Java investment realization in 2023 would reach IDR 210.6 trillion, above the target given of IDR 188 trillion.

The top five districts and cities with the largest investment are Bekasi Regency IDR 61.21 trillion, Karawang Regency IDR 45.86 trillion, Bogor Regency IDR 15.18 trillion, Purwakarta Regency IDR 14.88 trillion, and Bekasi City IDR 12.3 trillion.

Taufiq added that investment in West Java, especially the Rebana (north) and Arumanis (south) areas, continues to increase. From 2021 to 2023, total investment in the Rebana Metropolitan area will reach IDR 50.11 trillion. Meanwhile in the Arumanis area it is valued at IDR 27.3 trillion.

Apart from PMDN (domestic investment), foreign investors targeting West Java also continue to increase. In 2023, foreign investors entering West Java will reach IDR 122.6 trillion.

Specifically for foreign investment, Japan was the highest contributor with an investment value of IDR 26.65 trillion. Other countries are Singapore, China, South Korea and Malaysia.

"We have prepared a strategy to attract investment interest again, either through exhibitions or in collaboration with Bank Indonesia to reduce the potential of district and city governments in West Java that are of potential interest to investors," he explained.

Deputy Chief Representative of Bank Indonesia Bambang Pramono added that investment realization in West Java which always exceeds targets shows the success of the West Java Provincial Government in preparing its potential.

"What is being offered is very popular and has potential so it has succeeded in attracting investment," he stressed.
Bambang emphasized that investment must be more spread out not only in the northern region, but also to the south of West Java. West Java also has the potential to develop a sharia economy and a green economy or renewable energy.

Bambang said that success in creating a harmonious investment climate is the key to the realization of West Java investment which will accelerate in 2023 and must be continued.

Apart from that, high investment realization also plays an important role in driving West Java's economic growth in line with the Incremental Capital Output Ratio (ICOR) value which is relatively stable from year to year.

Therefore, all stakeholders related to investment in West Java also need to actively carry out 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. .

West Java was recorded as successful in recording investment realization throughout 2023 of IDR 210.6 trillion, or 112 percent of the target set by the Ministry of Investment.

This achievement 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, supported by maintained household consumption and the performance of leading economic sectors, West Java's economic growth in 2023 is estimated at 4.7-5.5 percent (yoy).