According to Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, Special Economic Zones (SEZ) will serve as the foundation for the country’s economic growth under the next government, Antara News is reporting.
“With the SEZs, we expect the economy to grow faster in the next 5 to 10 years,” he stated at a press conference on Wednesday (25/9/24.)
After a meeting with the National Council for SEZs on Tuesday (24/9/24,) Hartarto announced that the government has approved proposals for seven new SEZs, according to Antara News.
“All of these proposals for establishing the SEZs will soon have their regulations prepared,” he said, adding that the government aims to complete the regulations in October, noting that this step is part of the strategy to encourage investment and regional economic growth.
With a total investment target of up to IDR 1,090 trillion (around USD 71.93 billion), the development of the SEZs is expected to create more than 14 million jobs.
Rizal Edwin, the acting secretary general of the National Council for SEZs, noted that SEZ investment has reached IDR 205.2 trillion since its inception through the first half of 2024, employing 132,227 workers.
Source: Antara News
Stock image by Wikimedia Creative Commons
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