Indonesia sets up 2 more SEZs

17 February, 2021 12:00 AM printer

Hanoi: The Indonesian National Council for Special Economic Zones has approved two new special economic zones (SEZs), namely the Lido in West Java and the Java Integrated Industrial Ports and Estate (JIIPE) in East Java.

Indonesian coordinating minister for economic affairs Airlangga Hartarto explained, Lido would be a tourism SEZ with a business plan for world-class theme parks, golf courses, retail and dining, accommodation, and creative economy, report agencies.

Lido, develop by MNC Group, is predicted to boost the number of domestic and foreign tourists to 63.4 million people until 2038, and foreign exchange inflows to around 4.1 billion USD over 20 years.

JIIPE located in Gresik city is projected to be able to bring in around 16.9 billion USD in investment. The SEZ is planned for business development in metal, electronics, chemical, energy and logistics industries.