The West Java Provincial Government offers six strategic projects to 100 investors from South Korea and Japan at an Investment Roadshow, part of the Road to West Java Investment Summit (WJIS) series, held in Jakarta on Tuesday (12/6).
The projects include the Subang Sugar Factory, the Metropolitan Bandung Railway (LRT), the Jatigede Regional Water Supply System, the Kertajati Airport, an industrial area in West Java, and the Rebana Metropolitan area.
Representatives from PT BJIB, Industrial Estate Association (HKI), West Java Province Housing and Settlements Office, PT RNI, West Java Provincial Transportation Service, and the Rebana Area Management Agency were also present to promote investment opportunities in their respective areas.
Networking and one-on-one meetings
The Head of the West Java Capital Investment and One-Stop Services Agency (DPMPTSP) Nining Yulistiani emphasized that South Korea and Japan are among the top investors in West Java. Therefore, these projects were specifically targeted towards investors from these countries.
The primary objective of the Investment Roadshow was to familiarize investors with the projects prior to the WJIS event scheduled for August. “We want them to come to WJIS ready to make a deal [investment], not to look around and ask for information on the projects we have already introduced,” Nining said.
The event also facilitated networking opportunities and one-on-one meetings between investors and project owners. The project owners had tailored their presentations according to the specific interests of the investors, ensuring a more focused and productive engagement.
Maintaining West Java’s highest investment realization
The investment Roadshow is an investment promotion strategy carried out by the West Java Provincial Government and Bank Indonesia West Java to maintain West Java’s position as the province with the highest investment realization in Indonesia.
West Java recorded an investment realization of IDR174.6 trillion in 2022, which was the highest in the country. In the period of January-March 2023, the investment realization in West Java amounted to IDR50 trillion, which also ranked as the highest in Indonesia.
A look at progress of West Java projects
One of the strategic projects in West Java is the Metropolitan Rebana, which has been on the list for several years. The project consists of 81 priority sub-projects, worth about IDR 234.59 trillion, to be completed by 2030.
The Metropolitan Rebana project spans across seven cities and regencies: Cirebon City, Cirebon Regency, Indramayu Regency, Sumedang Regency, Majalengka Regency, Subang Regency, and Kuningan Regency.
This project is expected to increase economic growth by 7.16 percent, create 4.29 million new jobs, and boost the investment rate to 7.7 percent.
Another noteworthy initiative is the Metropolitan Bandung Railway, which has been halted for the past three years. The Director General of Railways M Risal Wasal disclosed plans to commence a feasibility study for the Bandung-Cicalengka commuter line in the upcoming year.
There is also the Subang Sugar Factory project that is currently encountering challenges due to a shortage of investors. The project aims to revitalize three sugar factories owned by PT Rajawali II Sugar Factory (formerly known as PT Perkebunan XIV): PG Tersana Baru, PG Jatipuh, and PG Sindanglaut.
The factories have a total capacity of 10,000 ton canes per day (TCD) but they have been inactive since 2020. To restart the factories, IDR1.3 trillion is needed.
