The city government of Batam is advocating for increased domestic investment, particularly in the food and beverage industry, to bolster the regional economy and local tax revenue.
The Secretary of Batam, Jefridin Hamid, highlights the government’s efforts to attract domestic capital investments, with the food and beverage sector expected to significantly contribute to the city’s tax revenue and overall economic development.
The Batam government views domestic investments as a vital element in elevating the city’s economic status, particularly through new restaurant, hotel, and shopping center ventures.
Restaurant taxes are a major revenue source for Batam, making business openings particularly promising due to the city’s supportive accessibility and rapid property growth.
BP Batam Head Muhammad Rudi appreciates the “Investment Award 2023” event, recognizing it as a catalyst for motivating economic growth and celebrating influential corporate and individual contributions to Batam’s investment climate.
Strategic efforts by BP Batam, including infrastructure enhancements and the development of Hang Nadim International Airport’s Terminal II, aim to increase Batam’s investment appeal.
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The “Investment Award 2023” serves to strengthen government-investor partnerships, with the shared goal of positioning Batam as a premier investment destination in Indonesia.
The initiatives in Batam to foster a favorable investment environment may present new opportunities for Singaporeans and international visitors interested in the region’s burgeoning economic prospects, particularly in the vibrant F&B sector.
Batam’s government is actively encouraging domestic investment to stimulate economic growth and increase local tax revenue, focusing on the food and beverage industry. The city’s strategic location and evolving infrastructure are leveraged to attract investors and enhance the overall business environment. Celebratory events like the “Investival Award 2023” underscore the city’s commitment to recognizing and fostering investment, which is expected to have a positive impact on Singaporeans and other international stakeholders looking for investment prospects in Batam.
Source: Batam Pos, Kepri Aktual (2023)
