Every year, the Central Java Economic, Trade, Investment, and Tourism Corridor (KERIS JATENG) holds the Investment Challenge (IC) to provide investment portfolios ready for promotion both domestically and internationally. IC serves as a competition to compile outstanding investment projects in the 35 regencies/cities of Central Java with the involvement of local governments and in 2023 IC focuses on investment opportunities in renewable energy, agri-industry (agricultural downstreaming), labor-intensive industries (textiles and footwear), infrastructure, and tourism sectors. A total of 27 regencies/cities participated in the IC 2023.
After undergoing rigorous assessment and verification, seven finalists were selected for IC 2023: Boyolali Regency, Grobogan Regency, Pati Regency, Pemalang Regency, Magelang City, Surakarta City, and Tegal City. The assessment and verification were conducted by a team of experts composed of Bank Indonesia, local governments, academics, and investors. Key factors considered for evaluation and assessment included aspects of ideas and concepts, market and marketing, legality and legislation, management and organization, technical aspects, social and environmental aspects, as well as financial aspects. Subsequently, the seven finalists will undergo further selection to determine the three winners of IC 2023 that will be promoted at the Central Java Investment Business Forum (CJIBF) in August 2023, which is the largest investment forum in Central Java and also have the opportunity to be promoted at various investment forums abroad.