Batam, Riau Islands (ANTARA) - The Batam Concession Agency (BP Batam) recorded that the value of foreign investment in the first semester of 2023 in Batam reached US$1.2 billion, while domestic investment was recorded at US$168 million.

"Foreign investment (PMA) value in the first semester of 2023 reached US$1.2 billion, while domestic investment reached US$168 million. Most of the foreign investment came from Singapore," Head of BP Batam, Muhammad Rudi, stated in Batam on Friday.

According to Rudi, the total PMA value increased by 1.56 percent as compared to the same period in the previous year. On the other hand, changes in PMA projects in Semester I of 2023 also experienced a drastic increase, with an achievement of 142.39 percent as compared to the same period in 2022.

Moreover, based on Statistics Indonesia (BPS), export value in the first semester of 2023 in Batam City was recorded at US$7.5 billion, with the import value of US$7.2 billion, he remarked.

This value was obtained due to the creation of a conducive investment climate that was needed by investors, Rudi stated. Moreover, sound cooperation between stakeholders and BP Batam also helped to achieve positive economic growth.

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To support business and investment in Batam City, his side is preparing several supporting infrastructures, such as developing the airport by building Terminal 2 and renovating Terminal 1.

"This is expected to have multiple effects on the number of passengers. Therefore, BP Batam is also developing roads and access to the airport," he remarked.

In addition, the Batu Ampar Port will be renovated to become an efficient port nationally and internationally, he stated.

Furthermore, his side carries out the construction of an international hospital, plans to build light rail transit (LRT) that will become modern public transportation, and develop the Rempang area into a modern eco-tourism area that is currently underway.

"The high investment value is proportional to the employment opportunities in this region, so it has an impact on the community's economy. Batam's economic growth, which far surpasses the Riau Islands and even nationally, cannot be separated from the contribution of stakeholders in Batam City," Rudi affirmed.

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Translator: Ilham Yude P, Resinta Sulistiyandari
Editor: Yuni Arisandy Sinaga
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