France shows interest to invest in shipyard in Batam

The Batam Administration (BP Batam) has recently met with a number of French business delegation as French companies are interested in pouring their investment in shipyard in Batam, Riau Islands.

“Representatives from the French Embassy Jakarta, the French Trade Commission UBIFRANCE and representatives from French Embassy in Singapore visited us on Monday to directly communicate their plan and interest in Batam,” BP Batam deputy for business development Istono said on Wednesday as quoted by Antara news agency.

During the visit, he said that UBIFRANCE stated that they wanted to further study the island’s shipyard industry map before entering the market.

“We have also informed them about some successful shipping companies in Batam,” he said, adding that there were around 80 shipping companies in the island.

In addition, he said that business permit processes in Batam was not complicated since BP Batam has pocketed authority from the Investment Coordinating Board (BKPM) to process many permits.

“We continue to work to ease business processes here so that investors can immediately begin their businesses,” he added.

According to BP Batam data, direct investment in the free trade zone of Batam saw a fivefold increase to US$155.5 million in the first quarter of this year compared to $29.5 million in the same period last year.
Source: Jakarta Post