TEMPO.CO, Batam - Batam Free Zone Authority (BP Batam) recorded that Singapore’s investment realization in the city reached US$100,607.6 million with 455 projects in the first semester of 2023, making it the city’s leading foreign investor.

In its press release, BP Batam also said that two other countries following Singapore are France with a value of US$29,119.4 million, and Hong Kong with US$15,945.6 million.

Ariastuty Sirait, Head of BP Batam’s Public Relations, Promotion, and Protocol Bureau, outlined that there was an increase in projects throughout the first half of 2023 to 1,687 projects, compared to 696 projects in the same period in 2022.

“BP Batam always supports the progress of investments by improving the quality of services and facilitating licenses,” Sirait said on Sunday, August 20, 2023.

Many countries are looking at Batam City as an investment destination due to its quite strategic geographical location.

Other countries included in the top 10 with the highest investment value include China (US$6,422.9 million), Germany (US$5,052.4 million), Malaysia (US$4,105.3 million), the United States (US$2,791.7 million), Japan (US$1,981.7 million), Switzerland (US$1,805.3 million), and the British Virgin Islands (US$675.0 million).

“The change in the foreign investment value compared to the previous period is quite significant. We always continue to boost investment in Batam City,” Sirait said.

The release also noted that 83.6 percent of foreign investment in the Riau Islands in the first semester (January-June) came from Batam City with US$348.09 million or Rp5.15 trillion of the province’s total investment of US$416.4 million.

Head of BP Batam Muhammad Rudi said the surge in investment value could boost Batam's economic growth to seven percent. In 2022, the city's economy grew by 6.84 percent.

The figure was a positive signal to help improve the economy since Batam is the locomotive of the economy in the Riau Islands Province. “I ask all elements to maintain the situation so that the investment climate keeps running optimally,” Rudi said.

YOGI EKA SAHPUTRA

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