Saudi Arabia: West Java Forum Seeks to Boost Investment Opportunities

West Java Investor Forum 2017

West Java Investor Forum 2017

Jeddah, Kingdom of Saudi Arabia, October 9, 2017//-With a population density of 47 million people, economic growth above the national, quality human resources, the most complete infrastructure and also the center of the industrial sector in Indonesia, making West Java as one of the provinces that offers the greatest investment opportunities in Indonesia, manufacturing, construction, agriculture to tourism.

 In connection with this, as one of the Regional Investor Relation Unit (RIRU) manifestations, the Representative Office of Bank Indonesia West Java Province (KPWBI West Java Province) together with the West Java Provincial Government incorporated in West Java Incorporated (WJI) Forum continues to increase synergy in order to boost investment sector, competitiveness and economic growth in West Java.

To optimize the potential of such investment KPWBI Prov. Jabar and the West Java Provincial Government in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD), which is part of the Islamic Development Bank (IDB), and IDB Group Business Forum “THIQAH” holds West Java Investor Forum (WJIF) on 6 October 2017 held at Gedung Sate, Bandung City.

This activity is a communication/ coordination platform between West Java Provincial Government, Investment Coordinating Board (BKPM), IDB, and investor of IDB partners to increase investment, both foreign and domestic in West Java. The event is attended by ± 100 potential investors from the Middle East, ASEAN and several other countries.

The event attended by the Vice Governor of West Java, Mr. Deddy Mizwar; Mr. Khaled Al Aboodi – Chief Executive Officer (CEO) of ICD; and Dr. Alwi Shihab – as the special envoy of the President of the Republic of Indonesia for Middle Eastern countries and member countries of the Organization for Islamic Cooperation (OIC); Head of Representative Office of Bank Indonesia West Java Province, Wiwiek Sisto Widayat and several other stakeholders, presented several major investment opportunities in West Java such as railway development project (LRT Bandung Metropolitan Area and Tanjungsari-Kertajati-Arjawinangun railway line); international port development projects (Cirebon port and Indonesia Halal Hub Logistics); airport development project (International Airport West Java-BIJB and Nusawiru Airport in Pangandaran); Industrial Area (Bekasi Industrial Zone and Suryacipta City Industrial Area) as well as several other development projects such as Cirebon Raya Clean Water Supply, Legok Nangka Solid Waste Treatment and Disposal, Mini Cyclone Power Plant (PTLM) Cikembang and Tourism Area (Hotel, Restaurant and facilities, other supporters) in Geopark Ciletuh. In addition to that, local tea products (Mimi Tea and Tea Walini) and local coffee (Gunung Puntang) with export quality are also showcased.

In his speech, the Vice Governor of West Java conveyed about the implementation of 3-Hours Investment Licensing Service where investors can obtain permit for investment project development in industrial area within 3 hours. The implementation of the policy is one of the efforts of the Regional Government to further increase investment in West Java.

Meanwhile, the CEO of ICD said,“We are excited to work with Bank Indonesia in organizing this West Java Investor Forum. We hope this forum will become a strategic platform to connect potential investors with policy makers, business leaders and partners to discuss not only the potential investment in West Java, but also related challenges and experience in related industries. Moreover, this forum is part of ICD’s long-term commitment to the economic development of Indonesia and our member countries.”

In this activity, a panel discussion is also held, which is divided into two sessions. First, themed “Doing Business With West Java” which presents 3 (three) speakers namely Himawan Hariyoga, as the Deputy

of Investment Promotion Coordinating Board of Investment Coordinating Board (BKPM) of the Republic of Indonesia which presents Investment Opportunities in Indonesia; Wiwiek Sisto Widayat, Chief Representative of Bank Indonesia West Java Province presents Macroeconomic and Financial Condition in West Java; and Dadang M. Masoem, Head of Investment Office and One Stop Integrated Service (DPMPTSP) of West Java Province, presented an Opportunity, Policy and Ease of Investment in West Java. The second panel discussion session is themed “Investment Opportunities in West Java”. In this session 3 (three) speakers are also presented, who are also project investment owner related to BIJB; Cikembang Mini Water Power Plant (PLTM); and Waste Management in Legok Jackfruit. In closing the series of WJIF events, on October 7, 2017, potential investors follow the on site visit to West Java International Airport in Majalengka.

Hopefully, this event will result in the agreement on the development of several leading investment projects of West Java in order to encourage economic growth of West Java significantly.

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