“Business practitioners must take full advantage of this opportunity,” Bahlil said in front of 500 local and foreign entrepreneurs at the 15^th Java Investment Business Forum (CJIBF) on Nov. 5.

“Human resources, easy licensing and the like are what entrepreneurs are looking for. In addition, Central Java has a demographic bonus now,” he said in the Birawa Assembly Hall of Hotel Bidakara Jakarta.

The current macroeconomic challenges could not be an excuse for the nation’s weakening investment climate. On the contrary, the conditions should be taken advantage of to strengthen the local market.

Bahlil further stressed that the BKPM was currently engaged in a deregulation process and offering business incentives in a bid to strengthen local investment.

In the first nine months of 2019, total investment in Central Java reached Rp 47.24 trillion (US$3.3 billion) from the full-year target of Rp 47.42 trillion.

Central Java Governor Ganjar Pranowo is optimistic that investment will exceed the target.

“[It will exceed the target,] especially with this forum being held. I’m very pleased to see a lot of potential investors wanting to invest in Central Java,” Ganjar said, adding that the regency and city were prepared. “Our task is to facilitate and invite them in.”

Investment in Central Java from 2015 to the second quarter of 2019 reached Rp 211.19 trillion, a combination of foreign direct investment (PMA) and domestic direct investment (PMDN).

Ganjar explained that the total included Rp 110.85 trillion of PMA investment for 4,964 projects. This had created more than 300,000 jobs. PMDN, meanwhile, amounted to Rp 100.34 trillion for 7,121 projects, creating 200,000 new jobs.

“We invite and gather all the strength needed, especially foreign and local investors,” Ganjar said. He added that they were entrusted with a task requiring high responsibility, which may boost economic growth to 7 percent in 2023. “That requires a minimum investment amount of Rp 432 trillion.” he announced.

Ganjar expressed hope the forum would generate an additional Rp 75 trillion of investment in Central Java, as the province offered numerous projects, opportunities and ample business potential. On top of that, efforts were ongoing to accelerate development in three key areas of Central Java, including Kendal Brebes and the area surrounding the Borobudur temple.

“This is part of efforts to develop synergy to elevate the interest and actualization of investment between regional and central governments,” Ganjar said. “The regency and city administration keep encouraging investment growth. Let that message get [to the entrepreneurs] clean and clear,” he concluded.

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