Green Industrial Park A Catalyst For Indonesia's Economic Transformation

By Mohd Iswandi Kasan Anuar JAKARTA, Dec 22 (Bernama) -- Several exciting investments in North Kalimantan province and the proposed relocation of Indonesia’s capital from Jakarta to East Kalimantan will trigger a seismic shift in the fortunes of the area. President Joko Widodo, also known as Jokowi, has embarked on the construction of a green industrial park in Tanjung Palas Timur District in Bulungan on Tuesday. Dubbed as the largest in the world, the new industrial park will span up to 30,000 hectares from 16,400 hectares currently. Speaking at the groundbreaking ceremony, he described the unfolding of the projects as the catalysts that will transform the country's economic landscape in the eyes of the world. "This is truly a leap in Indonesia's economic transformation and it starts from here, where we will manage our natural resources from upstream to downstream," he said. The industrial park will create 100,000 jobs and generate investments from within and abroad, including Australia, China and the United Arab Emirates. It will use renewable energy derived from a planned hydropower project and adopts the latest technologies in its operations for future industries. The industrial park will produce semiconductors, solar panels, petrochemicals for textiles and green aluminum, in line with Jokowi's plan to export more value-added products rather than raw materials. Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said other multi-billion projects, including a US$12 billion hydropower project, a US$1 billion port, and an electric vehicle battery plan, were also underway. “The projects will be a major catalyst for transformation, engaging with a range of authorities and investors to bring investments to the area,” he said. More facilities like airport and hotels will be built to ensure people have a clean and welcoming environment to live in. Early last month, Jokowi, a former carpenter and furniture exporter, secured US$44.6 billion of the United Arab Emirates’ investments commitment during his visit to the Middle East. He met global investors and the kingdom’s companies such as Damac Properties, Emirates Global Aluminum, Amea Power, and United States gas maker Air Products & Chemicals. The companies are keen to invest in agriculture, digitalisation, downstream mining, healthcare, renewable energy and infrastructure. The kingdom has also committed to invest US$10 billion fund for the development of Indonesia's new capital, which could cost US$33 billion. The move is scheduled to begin in 2024 and be complete in 2030. -- BERNAMA