West Java, one of Indonesia’s most populous provinces, is set to hold an Investment Roadshow in a bid to attract foreign investors from the ASEAN region. The province, which boasts a large consumer market and abundant natural resources, aims to highlight its investment potential and opportunities in various sectors such as manufacturing, tourism, and renewable energy. The event is expected to showcase West Java as a prime destination for ASEAN investors looking to tap into Indonesia’s growing market and capitalize on the province’s strategic location and business-friendly environment.
The West Java provincial government is set to conduct an Investment Roadshow in May 2023 to attract investors from Association of Southeast Asian Nations (ASEAN) countries. The objective of the roadshow is to showcase the investment potential of the province and to promote it to potential investors from ASEAN countries. The head of the Investment and One-Stop Integrated Service Office (DPMPTSP) of West Java province, Nining Yulitistiani, noted that her office will be proactive in reaching out to foreign investors who are interested in investing in West Java through their respective business chambers.
After narrowing down potential collaboration activities, one-on-one meetings will be held with potential investors during the roadshow. The DPMPTSP head emphasized that the government will intensify efforts to improve cooperation with ASEAN countries. She also noted that a number of foreign investors from several ASEAN countries are already investing in the province, with Singapore, Malaysia, and Thailand being the top investing countries.
The investment value from Singapore, Malaysia, and Thailand in 2022 reached Rp13.29 trillion (US$893.99 million), Rp910 billion (US$61.21 million), and Rp610 billion (US$41.03 million), respectively. Meanwhile, the investment value from the Philippines, although still small, is expected to grow in the future. Investors from Singapore focus on investing in the food industry, housing and industrial office development, and other services, while those from Malaysia are interested in investing in transportation, warehousing and telecommunications, livestock, housing and industrial office development, and other services. Investors from Thailand tend to be more interested in the vehicle industry, rubber and plastic industry, and non-metal industry.
The West Java provincial government aims to achieve an investment realization of Rp188 trillion (Rp12.65 billion) by 2023. This target is being geared towards potential investors who would be interested in contributing to the economic development of the province by investing in its potential sectors. The government has set a high priority to increase the value of foreign investments coming from ASEAN regions and is optimistic that the upcoming investment roadshow will be able to generate more investments for the province.
The noteworthy efforts of the West Java provincial government in promoting investment opportunities in the province is a welcome change in light of the global pandemic that has disrupted the economic environment affecting businesses worldwide. By conducting the investment roadshow and promoting investment potential of West Java, the government hopes to make the business climate more favorable to potential investors in ASEAN countries. Through this initiative, it is expected that West Java will be able to attract a wide range of foreign investors, especially those from ASEAN countries, to invest in its economic development.
