City
Epaper

Indonesia inaugurates 2 new special economic zones to boost investment

By IANS | Updated: October 10, 2024 16:40 IST

Jakarta, Oct 10 Indonesia has established two new Special Economic Zones (SEZ) to boost investment, an official said ...

Open in App

Jakarta, Oct 10 Indonesia has established two new Special Economic Zones (SEZ) to boost investment, an official said in a statement on Thursday.

The inauguration of the two new SEZs, located in the provinces of Banten and Riau Islands, was signed by President Joko Widodo on Monday, reports Xinhua news agency.

The new SEZ in Banten will focus on research, the digital economy, and educational, health, and creative industries. Meanwhile, the new SEZ in Riau Islands will concentrate on international health tourism.

"Each SEZ has a specific development focus and is expected to have a significant impact on the economy, create jobs, and attract investment. This move reflects the government's efforts to increase the competitiveness of the national economy through the development of strategic sectors," said Secretary-General of the National Council for SEZ Rizal Edwin Manansang.

The SEZ in Banten is targeted to reach an investment realisation of 18.8 trillion Indonesian rupiahs (around $12 billion) when fully operational and is expected to absorb up to more than 13,000 workers.

Meanwhile, the SEZ in Batam is targeted to reach an investment realisation of 6.9 trillion Indonesian rupiahs (around $440 million) and is expected to absorb up to around 100,000 workers.

Southeast Asia's biggest economy currently has 22 SEZs with 368 business operators, and the government has set a target of around 38,000 workers by this year.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Open in App

Related Stories

InternationalUS House passes Trump's ambitious 'Big Beautiful Bill,' massive legislative win for President

InternationalUAE: Dubai Silicon Oasis to host Middle East edition of Cyprus-born 'Doers Summit'

Cricket"Can talk whatever you want": Jadeja's bold reply to England spin coach's "100 per cent" win remark

InternationalPresident Trump to sign 'Big, Beautiful Bill' on US Independence Day today

Cricket"Did not feel he would get out....": Jadeja on captain Gill's marathon at Birmingham

International Realted Stories

InternationalUAE: MOCCAE collaborates with Tadweer Group to launch pilot project for managing targeted product waste

InternationalTrump secures poll victory as US Congress clears flagship tax bill

InternationalRussia will not "back down" from goals in Ukraine, Putin tells Trump

InternationalBangladesh pursuing extradition of Sheikh Hasina, says Interim govt advisor

InternationalDubai Silicon Oasis to host Middle East edition of Cyprus-born 'Doers Summit'