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Jakarta Post

Govt eyes $6.4 billion investment in Kendal, Singhasari, Likupang SEZs

  • The Jakarta Post

Jakarta   /   Thu, January 9 2020   /  01:53 am

The government is seeking to attract Rp 89.6 trillion (US$6.4 billion) in investment into three special economic zones (SEZs) in Java and Sulawesi as it aims to promote industrial and tourism development to stoke growth amid a cooling economy. Susiwijono Moegiarso, the secretary to Coordinating Economic Minister Airlangga Hartarto, 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 investment and to ...