ASIATODAY.ID, BATAM – Singaporean investors dominate foreign investment in Batam City in the third quarter of 2023.
The Batam Business Agency noted that Singapore’s investment realization reached US$ 82 million from 541 projects.
This number exceeds the four countries that are included in the top five contributors to foreign investment in Batam, including China, Japan, France and Malaysia.
For your information, China’s investment realization during the third quarter reached US$27.8 million from a total of 106 projects. Meanwhile, Japan amounted to US$16.76 million from 27 existing projects.
Apart from Asian investors, European countries such as France also recorded quite large investment values in Batam. The total realization of French investment during the third quarter reached US$ 6 million from 8 projects.
Apart from France, there is also another European country, namely Luxembourg, which recorded a fantastic investment value of US$ 10 million from 4 projects.
The large amount of foreign investment realization confirms that Batam is one of the strategic areas for investment with its success in attracting investor interest from Europe. Not only Southeast Asia but also East Asia.
Head of the Batam Business Agency’s Promotion and Protocol Public Relations Bureau, Ariastuty Sirait, revealed that this achievement could not be separated from the strategic policy of the Head of the Batam Business Agency, Muhammad Rudi, which provided convenience for investors.
Therefore, continued Ariastuty, his party will continue to strive to provide comfort for investors in order to increase investment value in the midst of international conflicts that haunt many parties.
This aims to ensure that economic growth in Batam can reach a percentage of 7 percent.
“The challenges for future regional progress are not easy. Especially with the current international conflict. “This requires cooperation from all parties to maintain investor comfort in Batam,” said Ariastuty, in a written statement, quoted Friday, November 17 2023.
Ariastuty also invited all elements of society to remain united in maintaining a conducive situation in Batam City.
“The Batam Enterprise Agency always supports existing investments by improving service quality and providing ease of licensing,” he concluded.
Advantages of Investment in Batam
Since Batam was designated as a Free Trade Zone, the Indonesian Government has provided 4 advantages listed in the Law on Free Ports and Free Trade, including: free Value Added Tax, Value Added Tax on Luxury Goods, import and export duties abroad.
Meanwhile, for Batam’s status as a Special Economic Zone, the government has established 14 conveniences for investing in Batam, including: investment allowance, accelerated amortization, dividend tax, longer compensation for losses, tax holiday, exemption from PPh Article 22 on Imports, no import Value Added Tax. , Value Added Tax on domestic purchases is not collected, exemption from Value Added Tax and/or PPnBM, delivery of goods is not charged to recipients of other facilities, refund of Value Added Tax to individuals holding foreign passports, suspension of import duties, exemption from import duties and exemption from excise.
The Special Economic Zone area in Batam has been established, namely Nongsa Digital Park which focuses on the digital industry and tourism, while Batam Aero Technic focuses on the aircraft maintenance, repair and overhaul (MRO) industry. And currently there are 2 other Special Economic Zone developments, namely in the Hang Nadim Aerocity and the Sekupang Health Sector.
With Batam as two free trade areas and also a special economic zone, it is hoped that Batam will become more competitive in Southeast Asia in attracting foreign investment. (AT Network)
Check out other news and articles at Google News