JAKARTA, Aug 8 – Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan affirmed Indonesia’s readiness to compete with the Special Economic Zone (KEK) established by Singapore and Malaysia in Johor, reported ANTARA news agency.
“We are not afraid to compete with them. We have a good capital strength and the credibility of trust that we have built so far,” the minister remarked on the sidelines of the inauguration of the PT Indonesia BTR New Energy Material lithium battery anode factory in Kendal District, Central Java, on Wednesday.
He acknowledged that Singapore and Malaysia would be rivals in developing the KEK.
The collaboration between Singapore and Malaysia was established with human resources supplied by these two countries, leveraging available land and energy resources.
However, Pandjaitan stated that Indonesia will not be afraid, as the country also has abundant energy resources.
“We are no longer competing with neighbouring countries just by relying on incentives, but credibility and trust are key factors that we must maintain,” he emphasised.
The Johor-Singapore special economic zone is a proposed collaboration between Malaysia and Singapore to create a special economic zone in the southern region of Johor, Malaysia, near the border with Singapore.
The aim of this zone is to boost economic development, attract investments, and enhance connectivity between the two countries.
