On April 1, 2019, the Indonesian President launched three special economic zones (SEZs) in East Kalimantan, North Sulawesi and North Maluku. Investors in the SEZs will benefit from easier land and employment rules and import duty exemptions for materials involved in Manufacturing of export goods.
The Indonesian government is looking for total investment of around IDR 110 trillion (USD 7.7 billion) to develop these areas and create an estimated 120,000 jobs by 2025.
So far investments of IDR 5.24 trillion (USD 370 million) have been confirmed, including investments by PT Jababeka Morotai, an industrial estate developer and Kilang Kaltim Continental, a crude oil refinery operator which is a subsidiary of Canadian Continental Energy Corporation.
(Sources: Straits Times; South China Morning Post)
