Indonesia to build new special economic zones to boost investment
Indonesia will establish six new special economic zones and expand an existing one to boost investment.
An aerial photo shows a data center construction project in the Nongsa Special Economic Zone (KEK) in Batam, Riau Islands, Indonesia. Photo courtsy of en.antaranews.com.
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto said on Wednesday that the economic zones were expected to attract up to $72 billion in investment and open 14 million job opportunities for local people.
He mentioned that the six new economic zones would be located in Sidoarjo in East Java province, East Kutai in East Kalimantan province, two in Subang in West Java province, Bulungan in North Kalimantan province, and Batang in Central Java province.
These zones will range in sizes from 480 hectares to over 11,000 hectares.
Additionally, the existing special economic zone in Nongsa, Riau Islands, will be expanded by an additional 22.43 hectares.
These new special economic zones are expected to speed up Indonesia's economic growth in the next five to 10 years. In total, the country will have 29 economic zones, he noted.
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