Jakarta. The government recently said that diverse sectors had helped Banten to attract huge investments. 

Government data shows Banten has attracted Rp 103.85 trillion throughout 2023, up by 29.46 percent from Rp 80.22 trillion recorded the previous year. This means that the province has topped its targets. In 2023, the Banten government was seeking Rp 60 trillion in investments, while the central government set a target of Rp 82.97 trillion.

Virgojanti, the head of the investment agency in Banten, said that this showed that the province had a conducive investment climate. The provincial government will also continue to keep an eye on the infrastructure, licensing process, transport, and industrial estates to drive investment. 

Virgojanti also attributed the skyrocketing investment to the diverse sectors that investors could pick. These sectors range from manufacturing, tourism, agribusiness, renewable energy, and infrastructure. The manufacturing sector remains the leading sector, as the province secured major investment deals related to petrochemicals, automotive, textiles, and electronics. As more factories got built, coupled with the growing production capacity, this spurred job creation and local economic growth. 

The tourism sector has also piqued investors’ interest. Resorts, hotels, and other tourism infrastructure have been developed to spur the sector. The Taman Hutan Raya (Tahura) Banten, which is home to various rare and protected flora as well as fauna, also offers ample opportunities for investment. 

Areas with fertile agricultural potential in Banten have sparked increased investment in the agribusiness sector, especially in the development of organic farming, plantations, and agro-industry. All these have made a positive contribution to Banten's economy, and improved farmers’ welfare.

Banten also holds great potential for renewable energy, particularly wind and solar. Investment in renewable energy helped reduce dependence on fossil fuels and support climate change mitigation efforts. 

The Banten provincial government is currently aiming for equitable infrastructure development in a bid to attract more investors. This vision is also supported by the national strategic projects. Roads, ports, and airports-related investments have helped improve regional connectivity and cement Banten’s position as an economic center in the western part of the Java island.

Banten’s acting governor Al Muktabar said that his government would continue to boost the ease of doing business and investment. Banten also seeks to keep the inflation rate to remain stable.

“Doing business in Banten is profitable. We have quite a robust infrastructure. There is an airport, ports, highways, solid roads, and even railways. This [infrastructure] has been very adequate,” Al Muktabar said.

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