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Jakarta Post

Indonesia seeks to attract $6.4b in investment into Kendal, Singhasari, Likupang SEZs

  • News Desk

    The Jakarta Post

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Jakarta   /   Wed, January 8, 2020   /  08:36 am
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Faraway island: Tourists enjoy a sunny day on Lihaga Island in West Likupang, North Minahasa, North Sulawesi. Likupang, now a special economic zone, is one of the government's five super priority tourism destinations.(JP/Riza Roidila Mufti)

The government is seeking to attract Rp 89.6 trillion (US$6.4 billion) in investment into three special economic zones (SEZ) in Java and Sulawesi as it aims to promote industrial and tourism development to stoke growth amid a cooling economy.  The secretary to the coordinating economic minister, Susiwijono Moegiarso, said on Monday that Rp 70 trillion in investment was expected to go to a range of industries such as automotive and food and beverage within the Kendal SEZ in Central Java. Up to Rp 12.5 trillion is expected to be invested in Singhasari, East Java, in the digital and tourism sectors, among other sectors. The remaining Rp 7.1 trillion will go to tourism development in the Likupang SEZ in North Sulawesi, one of the government’s five super priority tourism destinations. “This [the three SEZs] is part of the government’s efforts to encourage inves...