More Than 1.400 Investors Eye West Java Projects Worth USD 2.8 Billion  

TIMESINDONESIA, BANDUNG – As many as 1.434 foreign and domestic investors participated in the one-on-one meeting session in the 2020 West Java Investment Summit (WJIS) on Monday, in which 16 land projects were offered with a total investment value of USD 2.8 billion (Rp 39.5 trillion).

Among the highest bids are the Grand Rebana City by State-owned Enterprise PT Rajawali Nusantara Indonesia (RNI), with an investment value of USD 684.9 million, and the Subang Smartpolitan by PT Suryacipta Swadaya worth USD616.4 million, which construction process will start on Wednesday.

Moreover, a total of USD 293 million investment commitments were made during the 2020 WJIS. The partnership signed includes a USD 214.3 million healthcare deal between West Java’s Regional-owned Enterprise Jasa Sarana with the Gobel International, as well as Australian-based Aspen Medical and Docta, to build and operate 650 clinics and 23 hospitals across the country.

The commitment also includes a USD 39.4 million partnership between PT BIJB and PT Jaswita to develop hotels and MICE facility in Kertajati Airport, a USD 28.6 million partnership between Jasa Sarana and State-owned Enterprise Sarana Multi Infrastruktur to build a waste-to-energy treatment facility and a USD 10.7 million partnership between Jasa Sarana and the Indonesia Infrastructure Finance for the development of medical waste treatment facility.

West Java Investment Agency (DPMPTSP) Head Noneng Komara Nengsih added that the WJIS also listed eleven investors who will disburse a total of USD 17.9 billion in three to ten years. “Including South Korean subsidiary Hyundai Motor Manufacturing Indonesia, American tech giant Amazon Web Service and United Arab Emirates' (UAE) renewable energy company Masdar,” she said.

The annual summit has been an effective business forum for both industrial estate developers and investors to explore business partnerships in West Java. Various foreign investors from Japan, the United States, Singapore, Finland and France participated in the event this year.

Bank Indonesia’s West Java chief representative Herawanto expressed his confidence about the investment climate in West Java as the province had reported a USD 6.1 billion realized investment, both foreign direct investment (FDI) and domestic direct investment (DDI), from January to September. “Even during the Covid-19 crisis, the number accounted for 14.1 percent of the national realized investment,” he said.

Meanwhile, West Java Governor Ridwan Kamil asserted that the province’s quality infrastructures and competitive workforce would attract more investors. “West Java is already a home to 26 industrial parks, or 60 percent of manufacturing industries in Indonesia,” West Java Governor said. (*)

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