ID :
41522
Mon, 01/19/2009 - 16:26
Auther :
Shortlink :
https://www.oananews.org//node/41522
The shortlink copeid
PRESIDENT DEDICATES BATAM-BINTAN-KARIMUN FREE TRADE ZONE
Batam, Jan 19 (ANTARA) - President Susilo Bambang Yudhoyono said he hoped the Batam-Bintan-Karimun free-trade zone can become a new pillar of the world economy.
The head of state made the remark at a function to mark the operation of the free trade zone in the Coastarian beach area, Ocarina Mega Tourism resort, Batam, on Monday morning.
"We hope this free trade zone will be a new pillar of economic zone development in Asia," Yudhoyono said adding that the world financial crisis which had been engulfing the world in the past few months had actually caused world economic hubs to move to the Asian region.
He explained Indonesia had set up its first free-trade zone in the three islands (Batam, Bintan and Karimun) because they were strategically located for the flow of trade.
The three islands would function as a gateway for the inflow of foreign investment, an industrial hub and a traffic center of vessels passing through the Malacca Strait.
But the president also said to further develop the three islands as a free trade zone, Indonesia would have to cooperate with Singapore.
The president said companies operating in the free trade zone would be given incentives, tax reductions and easy procedures to obtain business permits.
Yudhoyono also asked the local government to provide maximum support for the development of the free trade zone and not to forget the environmental factor in developing industries.
On the occasion, the president also invited investors to increase their investment with a guaranty of legal certainty and transparency.
The head of state also dedicated new projects and expansion of 18 companies running engaged in shipbuilding, electronic industries, tourism and property development.
The islands of Batam, Bintan and Karimun have attracted at least 1,254 multinational companies that would invest a total of of about US$11 billion.
In June 2006, the Indonesian and Singaporean governments agreed to establish cooperation in the development of Batam, Bintan and Karimun Special Economic Zone (KEK BBK) which is now called Batam-Bintan-Karimun Free Trade Zone.
According to the plan, Batam will be transformed into a shipyard, electronic, and mecatronic industrial development center; Bintan into a textile, footwear, and tourism industrial development center; and Karimun into a shipyard, metal, component, agricultural, and marine product industrial development center.
The head of state made the remark at a function to mark the operation of the free trade zone in the Coastarian beach area, Ocarina Mega Tourism resort, Batam, on Monday morning.
"We hope this free trade zone will be a new pillar of economic zone development in Asia," Yudhoyono said adding that the world financial crisis which had been engulfing the world in the past few months had actually caused world economic hubs to move to the Asian region.
He explained Indonesia had set up its first free-trade zone in the three islands (Batam, Bintan and Karimun) because they were strategically located for the flow of trade.
The three islands would function as a gateway for the inflow of foreign investment, an industrial hub and a traffic center of vessels passing through the Malacca Strait.
But the president also said to further develop the three islands as a free trade zone, Indonesia would have to cooperate with Singapore.
The president said companies operating in the free trade zone would be given incentives, tax reductions and easy procedures to obtain business permits.
Yudhoyono also asked the local government to provide maximum support for the development of the free trade zone and not to forget the environmental factor in developing industries.
On the occasion, the president also invited investors to increase their investment with a guaranty of legal certainty and transparency.
The head of state also dedicated new projects and expansion of 18 companies running engaged in shipbuilding, electronic industries, tourism and property development.
The islands of Batam, Bintan and Karimun have attracted at least 1,254 multinational companies that would invest a total of of about US$11 billion.
In June 2006, the Indonesian and Singaporean governments agreed to establish cooperation in the development of Batam, Bintan and Karimun Special Economic Zone (KEK BBK) which is now called Batam-Bintan-Karimun Free Trade Zone.
According to the plan, Batam will be transformed into a shipyard, electronic, and mecatronic industrial development center; Bintan into a textile, footwear, and tourism industrial development center; and Karimun into a shipyard, metal, component, agricultural, and marine product industrial development center.
