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Airlangga Hartarto guarantees business stability for UK companies in Indonesia

Tempo - May 2, 2024

Jakarta – Coordinating Minister for Economic Affairs, Airlangga Hartarto, promotes Indonesia's Special Economic Zones to British investors, assuring them of certainty in doing business in Indonesia, the ministry said in a statement.

The Indonesian government organized the Indonesia Special Economic Zone (SEZ) Business Forum in London on Tuesday, highlighting Indonesia's commitment to maintaining robust economic growth and investment appeal.

Minister Airlangga outlined Indonesia's recent economic achievements during his keynote speech. "With a current annual growth rate of 5.05% amidst a global average of only 3%, Indonesia stands as one of the top five fastest-growing economies worldwide," he said, reassuring the audience of Indonesia's continued growth trajectory, projecting a rate of 5.2% for the year.

The forum showcased various SEZs focusing on sectors such as energy transition and sustainable manufacturing. Officials discussed both fiscal and non-fiscal incentives designed to make these zones attractive investment landscapes. Key representatives from these zones were present to provide detailed insights, reinforcing the SEZs as pivotal to Indonesia's economic strategy.

Emphasizing the stability and investor confidence stemming from recent peaceful elections, Hartarto assured UK businesses of the conducive environment for investment in Indonesia. This sentiment was echoed by Member of the House of Lords, The Lord Sarfraz of Kensington, who commended Indonesia's efforts in making SEZs appealing to a global audience.

The event also addressed Indonesia's aspirations to join the OECD and its strategies to navigate the middle-income trap by 2045. John W.H. Denton, Secretary-General of the International Chamber of Commerce, praised Indonesia's progress towards OECD membership, underscoring the potential benefits to the Asia-Pacific region and the global economy.

In closing, the forum highlighted the SEZs' role in driving economic diversity and growth, with Acting Secretary General of the SEZ National Council, Rizal Edwin Manansang, calling them a "breakthrough in economic balance." The successful event marked a significant step in Indonesia's journey towards becoming a key player in the global economy, fostering stronger economic ties with the UK.

Source: https://en.tempo.co/read/1863148/airlangga-hartarto-guarantees-business-stability-for-uk-companies-in-indonesi