Batam FTZ to Be Opened Soon

VIVAnews – The government will re-launch the Batam free trade zone (FTZ) on Thursday, Dec. 4.

Industry Minister MS Hidayat said that he and Coordinating Minister for the Economy Hatta Rajasa, as well as Finance Minister Sri Mulyani will fly to Batam on Thursday to officiate the new Batam FTZ.

“The Coordinating Minister [Rajasa] will officiate [the FTZ] and announce the updated incentives,” said Hidayat in Jakarta on Tuesday, Dec. 1.

However, he added that generally the regulation renewal will be related to tax, customs and excise and also land status certainty. “Everything will be renewed to make things easier than the present criteria,” he explained.

Hidayat plans to attend a bilateral meeting with Singaporean Deputy Prime Minister to talk about Singapore’s investment commitment in Batam FTZ.

--

Translated by: Ariyantri E. Tarman