Article – Indonesian Government Mulls Setting Up New Special Economic Zones21 February 2014
19 February 2014
Coordinating Minister for Economic Affairs Hatta Radjasa said the Indonesian government is currently considering to set up three new special economic zones.
The three eligible areas are Tanjung Apiapi in South Sumatra province, Mandalika in West Nusatenggara and Morotai in North Maluku, Indonesian news agency ANTARA reported.
Hatta said all three areas have potential to become economic zones as they meet the required regulations: eligibility of land, investor, infrastructure, and spatial planning.
Tanjung Apiapi is proposed to become an agricultural-based industrial area with palm oil, rubber and coal as main products in the offing. The zone is to occupy 20,330 hectares of land with an initial investment worth Rp12.3 trillion (US$1.04 billion).
With regard to Mandalika, Hatta said the area will be transformed into a tourism-based industrial economic zone given the high number of investors who have shown interest to build hotels, resorts and houses.
The Morotai area in North Maluku province will be converted into an economic zone for several industries such as tourism, business, logistics and fishery.
“The Morotai economic zone will occupy 15,000 hectares of land with an initial investment worth Rp6.8 trillion (US$576.42 million),” Hatta said.
Courtesy of BERNAMA