Regulation on Free Trade Zone (FTZ) council
The businessmen in Batam, Bintan, and Karimun (BBK) finally get the certainty about the FTZ following the issued of the organizational structure of the zone councils. The Investment Coordinating Board chairman (BKPM), Muhammad Lutfi, said that three presidential decrees (Keppres) about the zone councils at BBK, all in Riau province, have been signed by the President. The government issued the FTZ regulation in order to attract more foreign investors to the islands, thereby boosting economic development, creating more jobs and increasing non-oil and gas exports. In the FTZs, the government will build free ports, a one-stop investment office and easier immigration procedures to attract businesspeople and investors.
(Bisnis Indonesia, Fri May 16, p. R2)