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Minister inaugurates Special Economic Zone in Palu

Coordinating Minister for Economy Darmin Nasution inaugurated a Special Economic Zone (SEZ) in Palu. Central Sulawesi Province. The SEZ in Palu may be that the first of the 1-1 SEZs being assembled in several states throughout Indonesia to become inaugurated. The Central Sulawesi governor is convinced about achieving an breakthrough to Create the SEZ at Palu the very first specific economic zone to be inaugurated, the minister stated in his address here on Wednesday.

As stated by the minister, the SEZ has been made specifically by the central govt to inspire communicating industries and allow the natives enlarge the economy to enhance the individuals welfare. The SEZ also aims to attract potential traders to run business in lots of strategic fields, for example farming, forestry, and marine and fisheries, in order to open up prospects within the international marketplace, he said. Hence, Nasution said, all investors that conduct their enterprise in tactical products in the Palu SEZ is going to be allowed a tax holiday within a certain period of time.

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Additionally, they also are going to readily obtain licenses, either individuals underneath the central govt or both the Senate and regent/mayor government. Investors are allowed to see their investment, although the Building Permit (IMB) remains currently being processed. The important facet is that traders have fulfilled certain prerequisites of getting that the IMB as well as their organizations are within the oversight of their regional administrations, he explained.

Meanwhile, Central Sulawesi Governor Longki Djanggola explained the SEZ at Palu will be built within an area measuring five hundred hectares and has a comprehensive institution while the director. The SEZ at Palu Is Going to Be handled by PT. Bangun Palu Central Sulawesi (BPST), a neighborhood organization belonging into the Palu metropolis administration. The BPST has formed a consortium called KEK-Palu Public Private Partnership Investment Center.

The consortium includes several foreign and national private businesses -- PT. STM Tunggal Jaya, a technology consultant; PT. Deloitte Indonesian Consultant, an infrastructure and funding job Representative; Penida Capital Advisory; Korean Engineering Consultant Corporation; and also Hermawan Juniarto Law-Firm -- participated in a variety of disciplines, including technology, consultancy, and also law.

PT. STM Tunggal Jaya, the main strategic partner of PT. Bangun Palu Sulawesi, will be managing the SEZ at Palu and will construct the physical facilities and infrastructure within the area, using a expenditure of Rp7.2 billion dollars. Currently, seven investors have realized their expense in the Palu SEZ, having an overall whole investment approach of some Rp145 billion in many different small business sectors.