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Indonesia promotes Morotai special economic zone in Taipei
Taiwan News, Staff Reporter
2014-04-24 06:51 PM

Indonesian and Taiwanese government officials recently discussed a plan to enlarge Taiwan’s presence in Indonesia’s newly-established special economic zone in Morotai Island, according to the Central News Agency. At the same time, there was a business gathering hosted by the Indonesian Economic and Trade Office to Taipei (IETO) to promote the investment in Morotai special economic zone Thursday morning in Taipei.

Morotai, an island in northeast Indonesia the size of Taiwan’s Kaohsiung City and about a three hours' flight from Taiwan, is surrounded by fishery resources. This February, Morotai was assigned as a special economic zone, positioning itself as a new hub in the Asia Pacific region thanks to its geographical advantage. To attract more investment to accelerate its development, IETO organized a business development meeting between Indonesian government officials and Taiwanese business leaders on April 24 as one of its initiatives to promote Morotai.

The Morotai special economic zone will come with a variety of benefits to attract foreign investment, including tax incentives along with other measures to streamline business operation in Morotai, and with the main focus on the sectors of logistics, tourism, fishery, manufacturer, and others. In this event, Setyono Djuandi Darmono, the chairman of Indonesia’s leading industrial park and city modernization developer PT Jababeka TBK, was invited to give a briefing about the Morotai development project.

Recently, the Chung-hua Institution for Economic Research, one of the leading local think tanks, issued a report about the feasibility of hammering out a Taiwan-Indonesia economic cooperation agreement and found there’s a great potential and advantage for both sides to work together in electronic and agricultural sectors. Although they are unlikely to ink a bilateral free trade deal in the near term, Taiwanese officials said the regular meetings between both sides can still facilitate greater economic cooperation, according to the report. The data from the Bureau of Foreign Trade indicates that Indonesia is the number 10 biggest trade partner last year in terms of value, accounting for 2.14 percent of total trade.

In the IMF’s latest World Economic Outlook report issued earlier this month, Indonesia was projected to see a 5.4 percent real GDP growth for 2014 and a better year to come. In recent years, the Indonesian government has been looking for faster development, modernization, and economic growth with the help of foreign investors by offering them a more liberalized market, tax incentives, and a better infrastructure.

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