President Prabowo Urges Expansion of Special Economic Zones to Boost Foreign Investment

Jakarta, The Gulf Observer: President Prabowo Subianto has directed his ministers to prioritize the expansion of Special Economic Zones (SEZs) to attract more foreign investment into Indonesia. This directive was shared by Coordinating Minister for Economic Affairs Airlangga Hartarto following a meeting with the president in Jakarta on Tuesday.

“The president wants these economic zones to continue to be developed so more investment can come in, especially investment from countries he recently visited,” Hartarto said. The president’s recent official visits to China, the United States, Peru, Brazil, the United Kingdom, and the United Arab Emirates have paved the way for various economic and investment agreements, further emphasizing the need to harness these opportunities for Indonesia’s growth.

Hartarto outlined that Indonesia remains committed to optimizing the development of SEZs to attract investment, increase export values, and create jobs. As of the third quarter of 2024, investments in the SEZs reached Rp 68.43 trillion (approximately US$4.3 billion), leading to the creation of 34,199 jobs. Cumulatively, the total realized investment in SEZs stands at Rp 242.5 trillion, supporting 151,260 jobs across 394 companies.

During the meeting, Prabowo also discussed national strategic projects with Hartarto and other ministers. He emphasized that all strategic projects must be completed within the 2024-2025 period. “Eighteen projects are expected to be completed this year, while 30 more will be finished in 2025,” Hartarto added.

The expansion of SEZs and the completion of key strategic projects are seen as vital steps in boosting Indonesia’s economic growth and securing more foreign investments in the coming years.