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West Java Industrial Meeting (WJIM) 2022
In an effort to provide added value and contribute to the West Java economy, particularly through the development of the manufacturing industry as a leading economic sector, the West Java Province Bank Indonesia Representative Office collaborates with the West Java Provincial Government, in this case the Industry and Trade Office, annually organizes the West Java event. Industrial Meeting (WJIM). The implementation of these activities will focus on the delivery of information and discussion forums related to policies from various agencies, both vertical and local governments. In addition, WJIM activities are also a form of appreciation to Bank Indonesia respondents as well as efforts to increase the engagement of Bank Indonesia and the Provincial Government to business actors in the processing industry.
The West Java Industrial Meeting (WJIM) 2022 will be held on:
Date and Day : Wednesday 15th June 2022
Theme : “Increasing Industrial Competitiveness in West Java Through Export-Import Ease Support: LCS and Various Other Supporting Instruments”
Audience: 150 C-level West Java Processing Industry Businessman/woman
The 3rd West Java Investment Summit (WJIS) 2021
Until the first semester of 2021, investment realization in West Java is the highest nationally with a total investment value of Rp72.46 trillion, or an increase of 25.17% (yoy) compared to the same period the previous year. This achievement was mainly driven by the realization of Foreign Investment (PMA) with a share of 61%, larger than the realization of Domestic Investment (PMDN) of 39%. Several leading sectors still dominate investment realization, such as the housing sector, industrial and office areas, and the construction sector. This is in line with the ongoing development of industrial estates and infrastructure development in West Java.
In line with efforts to optimize economic momentum, which is indicated to increase in the second quarter of 2021 through investment, the Bank Indonesia Representative Office of West Java Province through the Regional Investment Relations Unit (RIRU) function, in collaboration with the West Java Provincial Government through DPMPTSP again held an annual investment promotion event for those who the third time is The 3rd West Java Investment Summit (WJIS) 2021. The event will be held virtually with the theme “Navigating Post-Covid World: Investment Growth for Resilient West Java”.
The series of activities in the West Java Investment Summit 2021, among others:
High Level Session
This activity will be held in a hybrid manner by inviting 50 (fifty) offline guests, and 1,500 participants who will take part in a series of virtual events by registering through the wjis.co.id website. The participants consisted of project owners, domestic and foreign investors, sister province partners, embassies of friendly countries, associations, West Java industrial estate managers, and other relevant agencies. This event will be held on 21-22 October 2021 which will be broadcast live and virtual at the Savoy Homann Hotel Bandung.
Launching “West Java Investment Ecosystem” Road to WJIS 2021
In the context of economic recovery in the midst of the COVID-19 pandemic, the Bank Indonesia Representative Office together with the West Java Province One Stop Service and Investment Service (DPMPTSP) made various efforts to find alternative investment cooperation schemes including supporting facilities and infrastructure. One of the efforts is to organize the launching of the "West Java Investment Ecosystem".
This activity presents interesting events, such as the Launching of Investment Ecosystem Development, Video screenings (Regulation Socialization, NIB Campaign, Cifest Launch, and WJIHUB Optimization), Interview Sessions with MSME partners of Bank Indonesia and MPP, Signing of the Investment Ecosystem MoU, and WJIS Teaser Screening 2021.
1 July 2022
Bank Indonesia Holds Economic Workshop “Measuring the Maritime and Fishery Potential of West Java’s Economic Progress”
Cirebon City, – The ranks of the Bank Indonesia Representative Offices in West Java Province together with the Association of Indonesian Economic Scholars (ISEI) have held a West Java Economic Workshop as one of the series of activities of the West Java Economic Society (WJES) 2022. The first series of this workshop took the title “MEASURING THE POTENTIAL OF THE MARITIME AND FISHERIES SECTOR AS THE SUPPORT OF WEST JAVA'S ECONOMIC PROGRESS” and will be followed by a similar workshop for the Southern part of West Java. "This activity, which was held at the Bank Indonesia Cirebon office building, was held to advance the economy of the northern part of West Java (Ciayumajakuning), especially through the potential of the maritime and fisheries sectors." said Head of the Bank Indonesia Representative Office, Hestu Wibowo, Tuesday (28/6/2022). According to him, the maritime and fishery potential of West Java is very large because it is directly opposite the Java Sea in the north and the Indian Sea in the south with a coast length of about 817 km and a sea area of 16,450 km. In addition, said Hestu Wibowo, capture fisheries and freshwater aquaculture are also very large. "The potential of fisheries in West Java, not only capture fisheries and aquaculture, but also has great forward linkage potential to the food and beverage industry, including the development of a fishery-based food industry." he said. Furthermore, Hestu explained, the export potential of fishery commodities is also quite high. In the second quarter of 2022, the share of fishing exports to the total exports of the agricultural sector in West Java reached 10.6% with growth reaching 57.92% (yoy). This shows the urgency to continue to encourage the export potential of potential sector commodities such as fishery, in the midst of indicators of the quality of human resources and the welfare of the people of Ciayumajakuning which need to be continuously improved. He also added that the development of the maritime and fisheries sectors also plays an important role in maintaining food security and controlling inflation in West Java. In the inflation basket, fishery commodities contributed 1.64% to the total value of public consumption in West Java. Efforts to maintain food security need to be supported by increasing the productivity of aquaculture and marine products, which requires the involvement of various parties. This effort must also be synergized with various steps to improve the welfare of the community, especially fishermen and fish cultivators. In this corridor, the government's efforts to encourage a more inclusive economy need to optimize efforts to implement Presidential Decree no. 87 of 2021 for the Development of the Tambourine Area and the Development of Southern West Java, where fisheries are included as one of the main focuses of economic development in North West Java and South West Java. Therefore, the Economic Workshop in Cirebon will be followed up with implementing steps to explore and develop the potential of the maritime and fisheries sector as a new source of economic growth, which is integrated with industry, while supporting supply fulfillment and price stabilization, thereby contributing to improving the welfare of the people of West Java. . Apart from presenting a keynote speaker, Bambang Pramono, Deputy Head of Bank Indonesia Representative for West Java Province, a number of competent speakers in their fields, namely: Akhmad Budiharto, Expert Staff of the Indramayu Regent for Community and Human Resources, conveyed the potential of fisheries and their contribution to economic development. area. Lino Harsih Khaerunnisa, Finance Business Partner Manager of e-Fishery who conveys about the potential of the fisheries sector now and in the future, and will specifically provide insight related to the use of technology and digitalization, as well as ecosystem development in the development of the fisheries sector. Yudi Nurul Ihsan, Dean of the Faculty of Fisheries & Maritime Affairs UNPAD, and Expert Staff of the Ministry of Fisheries & Maritime Affairs who conveyed related optimization and maritime development strategies in development. The workshop for the northern region of West Java will be continued with the East Priangan area which is the southern part of West Java in July 2022. The West Java Economic Society (WJES) 2022 series of activities will be held in June-November 2022 which consists of (1) Recommended Research Competition (KRR) which is open to the public, (2) Campus digitization with 23 universities in West Java, and ( 3) West Java Economic Workshop, namely economic discussions held at the ISEI sub-commissions in the Ciayumajakuning and East Priangan areas. (*)
30 June 2022
Bank Indonesia of West Java Province Holds WJIM 2022, Optimizing LCS Transactions for the Manufacturing Processing Industry
LENGKONG, AYOBANDUNG.COM -- The Representative Office (KPw) of Bank Indonesia (BI) West Java Province (Jabar) again held the 2022 West Java Industrial Meeting (WJIM). This activity aims to encourage manufacturing industry players to optimize the Local Currency Settlement (LCS) facility so as to minimize the double risk of uncertainty in the rupiah exchange rate against foreign currencies. Head of Bank Indonesia West Java Representative, Herawanto said, at WJIM 2022, the issue of how to increase the competitiveness of the processing (manufacturing) industry, especially in terms of utilizing the availability of various facilities and infrastructure provided by the government and other related institutions with the aim of increasing the competitiveness of the manufacturing industry in Indonesia West Java. One of the important facilities available to reduce transaction costs of export-import activities which tend to be high and fluctuating is the Local Currency Settlement (LCS). LCS itself, is the settlement of bilateral transactions between two countries carried out in the currencies of each country where the transaction settlements are carried out within the jurisdiction of the respective countries. This instrument is intended to reduce dependence on hard currencies (especially USD) by encouraging the use of local currencies for trade and investment settlements. LCS is currently being implemented in Indonesia, Malaysia, Thailand, Japan and China, involving 5 local currencies namely Rupiah, Ringgit, Bath, Yen and Yuan. Therefore, Herawanto said, the facilities that have been in place for a long time must be optimized by industry players to cut production costs. "This cross rate becomes a variable in production costs, so that by utilizing this facility, production costs become more efficient," said Herawanto at the West Java Industrial Meeting (WJIM) press conference at the Bank Indonesia Representative Office, West Java, Tuesday (14/6/2022). . Later, Herawanto said, import-export players could use the rupiah currency to transact with consumers in other countries. "Usually, if we import, we must first convert it to dollars, then convert it again to the currency of the country of origin of imports, as well as exports, so playing around in dollars can be risky because of exchange rate fluctuations," he said. Herawanto believes this can increase the stability of the rupiah exchange rate against other foreign currencies and maintain the level of Gross Regional Domestic Product (GRDP). Herawanto said the potential for optimizing LCS in West Java is quite large. Moreover, the contribution of West Java's manufacturing to the national economy currently reaches 28.27 percent of the economy, and 23.43 percent of national exports. "Speaking of competitiveness, the central to regional governments and institutions like us need to provide various information about various support facilities that already exist and should be optimally utilized," he said. However, Herawanto conveyed, currently there are still few industrial players in West Java who use LCS facilities in their transaction activities. He suspects that industry players do not really understand how to outline the benefits of transacting through the LCS facility. Currently, the LCS facility is connected to four countries, namely China, Japan, Malaysia and Thailand. This amount will continue to grow so that the rupiah currency can be connected with other countries. "LCS transactions in West Java are actually quite large. We can see for example from West Java's export transactions as of April 2022 it reached USD 3.4 billion. Currently there are 439 companies that have used LCS with transactions of USD 912,000 or 29 percent of national transactions. This means that there is still a lot of room that must be utilized," said Herawanto.
22 June 2022
West Java Kadin Becomes Facilitator of Electric Car Project, Electric Bus Will Soon Operate in Bandung
TRIBUNJABAR.ID, BANDUNG - The West Java Chamber of Commerce and Industry (Kadin) is a facilitator between technology companies and West Java Regional Owned Enterprises (BUMD), for the electrification program for mass transportation in West Java. Chairman of the West Java Chamber of Commerce, Cucu Sutara said the collaboration between Bakrie Brothers' subsidiary, PT Vector Teknologi Mobilitas (VKTR) and PT Jasa Sarana was marked by the signing of the MoU, at the Convergence Tower, Bakrie Tower Complex, Jakarta, Friday 17 June 2022. "This is in accordance with the duties and functions of Kadin as a collaborator and conductor in the fields of industry, trade, investment and services," said Cucu, in a statement Monday (20/6/2022). According to him, with a population of 50 million people, West Java has a strategic aspect in the economy as well as the largest national contribution to investment and exports. "Kadin must be able to create a sense of security and comfort for entrepreneurs, especially investors, both from licensing, providing strong and resilient human resources, as well as creating high competitiveness so that they can compete at both regional and international levels," he said. MoU signing ceremony between Bakrie Brothers subsidiary, PT Vector Mobilitas Technology (VKTR) and PT Jasa Sarana The President Commissioner of VKTR, Anindya Bakrie, thanked Cucu Sutara for successfully connecting VKTR with Jasa Sarana to develop investment in the electric bus provision program in the city of Bandung. Likewise, the President Director of PT Jasa Sarana, Hanif Mantiq, who appreciated Grandson Sutara. The company owned by the Province of West Java, which is engaged in investment development and construction of this facility, he said, entered a new era to enter the electrification program of mass transportation in West Java. One concrete manifestation of this collaboration, in the near future, electric buses will be operated in the Greater Bandung area, which includes Bandung City, Bandung Regency, West Bandung Regency, Cimahi City, and parts of Sumedang Regency.
West Java Indicator of Economy