West Java attracts highest foreign investment among Java's six regions

West Java attracts highest foreign investment among Java's six regions

Acting Deputy for Investment Control to the BKPM Chief Farah Ratnadewi Indriani. ANTARA/HO-BKPM/Indriani

Indeed, Java Island, particularly West Java, still holds special attraction for investors
Jakarta (ANTARA) - West Java has drawn the highest foreign investment among six provinces in Java in the past five years, with investment totaling US$22.98 billion, according to the Investment Coordinating Board (BKPM).

Coming second is Jakarta, attracting $17.89 billion of investment; Banten, $10.98 billion; Central Java, $8.82 billion; East Java, $6.04 billion; and Yogyakarta, $0.15 billion.

"Indeed, Java Island, particularly West Java, still holds special attraction for investors. After all, the BKPM will encourage equitable distribution of investment across Indonesia," acting deputy for investment control to the BKPM Chief Farah Indriani noted in a written statement released on Friday.

The BKPM remarked that investment in regions outside Java clocked notable growth in the past five years and inching nearer to that recorded in Java.

Foreign investment in Java Island until the third quarter of 2016 had reached $66.86 billion, while domestic investment amounted to Rp739.70 trillion (equivalent to $53.09 billion).

Over the period of five years, the ratio of investment in Java to that outside it had reached 55 percent to 45 percent of the total investment of Rp3,047.2 trillion.

However, based on data from the Command Center for Investment Operation and Control of BKPM, East Java was ranked first in terms of realized investment in the past five years, totaling $2.18 billion.

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