Pengaruh Subsidi Pemerintah Terhadap Kelayakan Investasi: Studi Kasus Kawasan Industri Terpadu Batang

S., Anton (2023) Pengaruh Subsidi Pemerintah Terhadap Kelayakan Investasi: Studi Kasus Kawasan Industri Terpadu Batang. Masters thesis, Institut Teknologi Sepuluh Nopember.

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Abstract

Pengembangan sebuah Kawasan Industri penting untuk dilakukan guna meningkatkan pertumbuhan ekonomi di suatu wilayah, antara lain membuka lapangan kerja, menggerakkan tingkat konsumsi di sekitar kawasan, diversifikasi ekspor, dan transfer teknologi. Studi ini akan mengambil studi kasus pada Kawasan Industri Terpadu Batang yang merupakan pengembangan Kawasan Industri yang digagas oleh Pemerintah. Kawasan Industri di Batang ini merupakan pilot project Kawasan Industri oleh Pemerintah yang menawarkan harga kompetitif, sehingga perlu kebijakan khusus dari Pemerintah dalam pembiayaan, perijinan dan pengembangan lahan.
Penelitian ini diawali dengan menganalisa kelayakan investasi ini bagi Badan Usaha sebagai investor. Berbagai insentif dan fasilitas lengkap yang disediakan membuat perlunya dukungan Pemerintah untuk memenuhi aspek finansial berupa pengembalian investasi yang layak bagi Badan Usaha. Alternatif dukungan pemerintah ditentukan melalui studi literatur pada proyek infrastruktur dengan skema Built, Operate, and Transfer (BOT) yang sudah dilakukan dan selanjutnya divalidasi melalui wawancara semi terstruktur. Alternatif subsidi dan penetapan harga disusun ke dalam bentuk matriks ke dalam beberapa skenario kondisi investasi untuk kemudian dianalisis kelayakan dan sensitivitasnya.
Investasi Kawasan Industri Terpadu Batang menghasilkan arus kas bersih sebesar Rp 31.761.549.573.130 dengan Net Present Value (NPV) bernilai positif yaitu sebesar Rp 1.178.557.668.072 (NPV>0) dan Internal Rate of Return (IRR) sebesar 20,09% (IRR>MARR). Dukungan yang diberikan Pemerintah antara lain dukungan langsung dan dukungan tidak langsung. Dukungan Pemerintah sangat berpengaruh terhadap kelayakan investasi di KIT Batang. Skenario 12 (Subsidi infrastruktur dasar, inbreng lahan, dan tarif sewa mengikuti harga pasar) menjadi alternatif skenario terbaik. Berdasarkan analisis sensitivitas pada kondisi eksiting, pengurangan dukungan pembangunan infrastruktur sebesar 13,80% menjadi batas maksimum terhadap kelayakan investasi.

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Industrial estates have an important role for economic development in local and regional economic development planning. Industrial estates, are believed to enhance employment, driving consumption index, diversify exports and technology transfer. Kawasan Industri Terpadu Batang, which is an Industrial Estate initiated by the Government selected as a case study in this research. Government offers some incentives for tenants such as competitive price, long concession period, and fully integrated infrastructure to support industrial estate development and its investment viability.
This Research was started investment viability analysis in industrial estates development from investor’s perspective. Government support alternatives were identified from literature study on Built, Operate, and Transfer (BOT) scheme,which were validated using semi-structured interview with experts to select possible supports. Alternative subsidies and pricing options were then arranged in a matrix to generate several scenarios of investment conditions. Investment analysis and sensitivity analysis to obtain the boundaries of several investment variables conduct to all scenarios.
Investment of Kawasan Industri Terpadu Batang generates net cash flow of Rp 31.761.549.573.130 with positive Net Present Value (NPV) = Rp 1.178.557.668.072 (NPV>0) and Internal Rate of Return (IRR) = 20,09% (IRR>MARR). Government supports that can be given to project company are direct and indirect supports. Government subsidies has significant impact on investment viability. Scenario 12th which subsidies on basic infrastructures, free land lease (inbreng) and land pricing follow market price is the best alternatives to be implement in Kawasan Industri Terpadu Batang. Sensitivity analysis results government subsidy on basic infrastructure provision are the most dominant variables in Industrial Estates investment. In current condition, 13,80% reduction in basic infrastructures subsidy is the maximum limit of investment viability.

Item Type:	Thesis (Masters)
Uncontrolled Keywords:	Kawasan Industri, Kelayakan investasi, Subsidi Pemerintah, Sensitivitas, Government Subsidies, Industrial Estates, Sensitivity, Viability
Subjects:	T Technology > TH Building construction > TH438 Construction industry--Management. Project management.
Divisions:	Faculty of Civil, Planning, and Geo Engineering (CIVPLAN) > Civil Engineering > 22101-(S2) Master Thesis
Depositing User:	Anton S Anton S
Date Deposited:	15 Feb 2023 04:44
Last Modified:	15 Feb 2023 04:44
URI:	http://repository.its.ac.id/id/eprint/97285

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