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Jakarta Post

Govt to allow more self-managed bonded zones to boost exports, investments

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, September 23, 2019   /  12:45 pm
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The Finance Ministry on Sept. 19 announced that as many as 119 of the total of 1,372 bonded zones in the country have been granted licenses to self-manage in a bid to attract investments and boost exports.(Tempo/-)

The government is seeking to build more self-managed bonded zones to realize President Joko “Jokowi” Widodo’s wish to boost exports and investments by providing fiscal incentives and easing bureaucratic processes. The Finance Ministry on Sept. 19 announced that as many as 119 of the total of 1,372 bonded zones in the country have been granted licenses to self-manage in a bid to attract investments and boost exports. Deputy Finance Minister Mardiasmo said that in self-managed bonded zones firms could independently run import and export businesses without having to involve customs officers. It is expected to help companies do business, better manage their costs and, in turn, increase their operational income and therefore trade capacity. “The ultimate goals are to boost exports and investments; this [policy] is a historic breakthrough that links and matches...