Jakarta. Foreign direct investment (FDI) in Batam is on the rise as the figures reached $382.2 million in the first quarter of 2024, compared with around $174 million in FDI in the same three-month period last year.

BP Batam, the city’s development agency, attributed the increase to the growing industries, namely machinery and electronics, among others. Medical instruments, electrical equipment, optics, and clock industries also dominate the Q1-2024 FDI. These sectors totaled around $151.68 million.

“If we can ensure that investors are comfortable, I can guarantee we’ll have no problems with the investment. Let’s keep up the good work so we can spur Batam’s economic growth and create prosperity for the people,” BP Batam’s head Muhammad Rudi was quoted as saying in a recent press statement.

Rudi said he was optimistic that investment in Batam would continue to grow following the presence of the strategic national projects. These projects are also set to become an impetus for investment growth, according to Rudi. He added: “Hopefully, the investments that flow into Batam can support the regional economy. That is why this calls for collaboration between all stakeholders so we can have maximum results.”