Indonesia issues decree on special economic zones
Indonesian President Joko Widodo has recently issued a government’s decree on special economic zones (SEZs) in order to draw over 50 billion USD into them in the next decade.
JAKARTA, VNA - Indonesian President Joko Widodo has recently issued a government’s decree on special economic zones (SEZs) in order to draw over 50 billion USD into them in the next decade.
According to the Cabinet Secretary, the decree is meant to catch up with legal requirements of the society.
Indonesian Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjataian said 12 SEZs in Indonesia are operating. Last year, only 1.5 billion USD was poured into them, or about 25 percent of the total committed investment capital.
The SEZs will focus on processing for exports, logistics, industry, technology, tourism, energy, innovation, education, health care, sports, financial services, and other economic activities regulated by the National Council for SEZs.
The decree ruled that the council is authorised to consider SEZ establishment projects within a maximum of 45 days before submitting to the President for approval.
The Indonesian government has so far set up 17 SEZs, 12 of them were put into operation with a total committed investment of about 6.3 billion USD as of the end of 2019, attracting nearly 8,700 workers. - VNA