The Free Trade Zone (FTZ) and Free Port of Batam Island – also Bintan and Karimun Islands – are managed by the Zones Board. In the board sit more than six people who responsible to every sector. Like who responsible on tax, custom, immigration, security in sea, land and industrial park and more.
This Zone Board is difference with existing regulators. The board is focusing to FTZ and Free Port management, including inviting the foreign investment. The board will change the member in every five year.
The Head of Industrial and Trade of Riau Island Province Jon Arizal in coffee morning with me yesterday, he said, that every year the board targeting in realized foreign investing is US$ 1 million. Today, more than US$ 1.5 million foreign investing has permission to invest. It’s a matter of time, the money will “landing” in Batam Island.
Arizal added again, the foreign investor more interesting to invest their money in shipyard industry and electronic sectors. Because, two sectors above are still more profitable. (!)
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