Singapore-based company PT Xiaomi Technology Indonesia has emerged as the largest foreign investor (PMA) in Batam, with a realized investment of SGD 2.28 billion between 2023 and 2024. This was revealed during the 2024 Batam Investment Awards held by BP Batam on Tuesday, October 22, 2024.
Xiaomi announced in 2017 its partnership with local manufacturer PT Sat Nusapersada to assemble 4G smartphones for the domestic market. Batam was chosen as its production base due to its strategic location between Indonesia, Malaysia, and Singapore, as well as its position along the Malacca Strait, an essential logistics route.
During the 2024 Batam Investment Awards, Xiaomi’s substantial contribution to Batam’s economy was highlighted. With an investment of SGD 2.28 billion, Xiaomi leads the foreign investment sector, solidifying Batam’s status as an economic and industrial hub.
Susiwijono Moegiharso, the Secretary of the Coordinating Ministry for Economic Affairs, emphasized Batam’s rapid economic and investment growth. He noted that Batam is not only a hotspot for infrastructure investments but is also gaining momentum in the digital and data center sectors.
BP Batam’s involvement in numerous exhibitions across Indonesia aims to promote the city as an attractive destination for foreign investors. This effort, supported by the Ministry of Economy, aligns with Batam’s goal to reach an investment target of SGD 3.36 billion this year.
Several companies were honored for their contributions during the event, including PT Volex Indonesia (best compliance reporting), PT SMOE Indonesia (largest certificate of origin), and PT Flextronics Technology Indonesia (inclusive hiring practices).
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The event also recognized two local figures, Tek Po and Johannes Kennedy Aritonang, for their contributions to tourism and industrial development in Batam.
Xiaomi’s significant investment in Batam highlights the city’s growing appeal as a strategic hub for manufacturing and economic growth. With the government’s continuous efforts to attract foreign investments, Batam is poised to see further expansion in both infrastructure and digital sectors.
Xiaomi leads foreign investment in Batam with SGD 2.28 billion, boosting the local economy and strengthening Batam’s position as a strategic hub for manufacturing and digital investments.
Sources: Bisnis.com, MSN.com (2024)
Keywords: Largest Investor, Batam Investment, SGD 2.28 Billion
