On 29 February 2016, the Indonesian government has decided to transform the status of Batam from a Free Trade Zone (FTZ) into a Special Economic Zone (SEZ) by issuing Presidential Decree No. 8 of 2016. The Batam Special Economic Zone will get many benefits compared to its previous status as a FTZ region. These benefits include tax holidays and deductions, accelerated amortization, and others. There will be a transition period for about six months.
Type:
Promotion and facilitation (Special economic zones)
Industry:
Not industry specific
Sources:
National Council for Special Economic Zone, Batam, From the Free Trade Zone and Free Port of Being a Special Economic Zone, http://kek.ekon.go.id/en/batam-from-the-free-trade-zone-and-free-port-of-being-a-special-economic-zone/, 17 Mar 2016
The Insider Stories, Batam to be transformed into a Special Economic Zone for speedy development, http://www.theinsiderstories.com/7066-2/, 15 Mar 2016