W. Java to pitch infrastructure<\/p>\n
Yuli Tri Suwarni and Zakki P. Hakim, The Jakarta Post, Bandung\/Jakarta<\/p>\n
A total of 174 foreign and domestic investors are set to take
\npart in the two-day West Java Infrastructure Summit starting on
\nThursday, in which the provincial administration is offering up
\n57 infrastructure projects worth Rp 35 trillion (US$3.53
\nbillion).<\/p>\n
\"We are offering cooperative funding ventures for projects
\nsuch as toll roads, sea ports and airports, geothermal-based
\npower plants, dams and others,\" said Memet Hamdan, head of the
\nprovince's Regional Promotion and Investment Agency (BPPMD).<\/p>\n
Held in cooperation with the province's Chamber of Commerce
\nand Industry (Kadinda) and consulting firm PA Asia Ltd., which is
\naffiliated to Brussels-based consultancy group Praaning Meines,
\nand supported by the Asian Development Bank (ADB), the
\nadministration hopes the summit will provide a much-needed boost
\nto the local economy.<\/p>\n
It earlier said West Java needed at least Rp 200 trillion of
\ninvestment in infrastructure for its economy to grow from the
\ncurrent 5 percent annual growth to 8 percent during the next five
\nyears. Increased growth the administration said would cut the
\nprovince's unemployment rate and reduce poverty.<\/p>\n
West Java, home to 39.14 million people, currently has 2.4
\nmillion jobless people and 10 million living under the poverty
\nline.<\/p>\n
The province has business opportunities in agriculture,
\nfisheries, tourism, manufacturing, the trade and service sectors
\nand human resources development. However, a lack of
\ninfrastructure has discouraged investment in these areas.<\/p>\n
The summit's opening ceremony will be held at the Gedung
\nMerdeka, while plenary and working group sessions will follow at
\nSavoy Homann Hotel, both in Bandung.<\/p>\n
The organizers have yet to set any investment targets but say
\nthey are prioritizing seven toll road projects across the
\nprovince, the development of an international airport in
\nKalijati, Majalengka -- about three hours' drive south of Bandung
\n-- and a marine harbor in Cirebon.<\/p>\n
The administration also plans to develop a \"modest\"
\ninternational fishing and commercial port near Cikalong,
\nTasikmalaya, in the southern part of the province, to help boost
\neconomic ties with Australia and other neighbors.<\/p>\n
Memet said the foreign investors included 70 businesses from
\nChina, 30 from Singapore, 10 from South Korea, eight from
\nMalaysia, two from India and others from European Union
\ncountries.<\/p>\n
\"Our regional budget is only about Rp 2 trillion, which makes
\nit impossible for us to finance all the development projects we
\nneed to boost the economic growth to 8 percent,\" West Java
\nGovernor Danny Setiawan said.<\/p>\n
Each project offered in the event would include a feasibility
\nstudy conducted by the administration, Danny said.<\/p>\n
During the event, organizers would also provide free-of-charge
\nlegal consultants to explain the legal framework for the
\nprojects, he said.<\/p>\n
\"Investors will most likely ask things regarding legal
\ncertainty in the province, so we are providing free legal advice
\nto convince them to invest here,\" he said.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/w-java-to-pitch-infrastructure-1447893297",
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"sponsor": "Okusi Associates",
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