In the first quarter of 2024, Batam has witnessed a substantial uptick in domestic investment, with figures surpassing the targeted Rp 7 billion, reaching Rp 1.71 trillion. This development highlights Batam’s growing appeal to investors.
The Department of Investment and One Stop Service (DPMPTSP) in Batam reports a notable increase in domestic investments, emphasizing the city’s strategic initiatives to streamline business processes and attract investor interest.
Batam’s domestic investments in the first quarter soared to Rp 1.71 trillion, significantly overachieving the modest Rp 7 billion target set for the period.
Batam has enhanced its appeal to investors through integrated online systems and streamlined permitting processes, especially attractive in the medium-low risk sectors.
The largest contributions to the domestic investment figures stem from the housing and industrial sectors, signaling a resurgence in these critical areas.
The use of an integrated online system with OSS RBH has simplified the licensing process, enabling investments to proceed rapidly, often within hours.
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Continued promotional activities and the provision of investment facilitation are key strategies that Batam employs to maintain and expand its attractiveness as an investment destination.
The significant investment growth in Batam not only bodes well for the city’s economic landscape but also has broader implications for Singaporeans and international visitors, promising enhanced business opportunities and regional development. Batam’s strategic location and investor-friendly policies are poised to make it a pivotal economic hub in Southeast Asia.
In the first quarter of 2024, Batam surpassed its domestic investment targets, recording Rp 1.71 trillion, thanks to efficient regulatory reforms and a conducive investment climate. This surge is attributed to robust performances in the housing and industrial sectors, powered by streamlined online systems and effective promotional efforts.
Source: Batam Pos (2024)
