Indonesia Unveils New Investment Opportunities with Commercial and Residential Zones in Batang
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Jakarta, Dec 14 (NationPress) Indonesia, via its PT Kawasan Industri Terpadu Batang (KITB), has introduced new commercial and residential zones within the expansive 4,300-hectare Batang Industrial Area located in Central Java province, thus opening up numerous business opportunities for investors.
According to Ngurah Wirawan, the general director of KITB, "The commercial and residential zones present a chance for investors to engage in various sectors such as hotels, educational zones, premium outlets, gas stations, golf courses, and luxury residential areas,” as stated in a press release reported by Xinhua news agency.
He further mentioned that KITB is focused on developing a modern and sustainable commercial hub integrated with residential spaces, aimed at generating new employment opportunities for the local populace.
"Our vision is for KITB to become a magnet for investment, a destination where opportunities align with potential," Wirawan commented.
In the past four years, KITB has successfully sold 339 hectares of its overall industrial park area, amassing an investment value of 18.7 trillion rupiah (approximately 1.16 billion US dollars). Investors hail from various nations, including China, Chile, and Japan, in addition to local investors from Indonesia, he noted.
"We are dedicated to providing optimal facilities and simplifying the investment process. Our goal is for KITB to emerge as a premier industrial area in Southeast Asia," he added.
Following KITB's announcement, investments amounting to IDR 3 trillion for its phase two expansion will allow foreign investors to acquire land for industrial purposes.
KITB in Central Java is recognized as a National Strategic Project (PSN), with the Ministry of Public Works and Housing aiming for its completion by the end of 2023.
The completion of KITB's initial phase, primarily occupied by manufacturing firms, has seen 14 tenants with a total investment of IDR 6.8 trillion and an estimated workforce of 15,707.
The establishment of KITB signifies a new development approach, utilizing state-owned land and government-facilitated resources to facilitate a seamless setup for investors, enabling immediate operations upon the completion of construction.
