Batam’s head of the Management Agency, Muhammad Rudi, expresses confidence in achieving a record investment inflow of SGD 4.62 billion this year, spurred by industrial expansion and favorable investment policies.
In Batam, optimism for substantial investment growth is high, with projections set between SGD 4.2 billion and SGD 4.62 billion for 2024. This expectation is backed by the ongoing expansion of industrial companies and a supportive regulatory environment aimed at facilitating business operations and investor confidence.
Muhammad Rudi projects that Batam will realize investments worth SGD 4.62 billion in 2024, driven by the expansion of existing businesses and new entrants in the industrial sector.
Rudi emphasizes that continued industrial growth will not only boost Batam’s economy but also improve the overall prosperity of its residents.
The Batam Management Agency, along with the Batam City Government, is committed to creating a conducive investment climate by simplifying business licensing processes.
A case in point is the facilitation provided to PT Karti Yasa Sarana, a supporting company for the upstream oil and gas sector, which is expanding with the construction of two new factories, collectively named Batam Technology Center.
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Rudi has vowed to personally oversee the licensing process to prevent misuse and promptly address issues faced by investors related to permits and other bureaucratic challenges.
Batam’s robust investment target represents both a beacon of regional growth and a testament to the effectiveness of proactive economic policies. As Batam continues to enhance its investment appeal, it stands as a compelling destination for expanding operations in Southeast Asia.
Batam is poised for a significant investment boost in 2024, targeting up to SGD 4.62 billion. This growth is fueled by industrial expansions and strategic efforts to streamline business processes, ensuring Batam remains an attractive and competitive locale for international investors and regional businesses alike.
Source: Bisnis (2024)
