Jakarta (ANTARA News) - The House of Representatives passed Government Regulation in lieu of Law (Perpu) on a Free Trade Zone (FTZ) in Batam, Bintan and Karimun islands in Kepulauan Riau (Kepri) province into a law at a plenary meeting here Tuesday.
The decision to pass the Perpu into law was endorsed by nine of the House`s 10 factions which attended the plenary session led by deputy House Speaker Soetardjo Soerjoguritno of the Indonesian Democratic Party-Struggle (PDIP).
The former president Megawati Soekarnoputri-led PDIP faction disapproved the decision. The faction said the government intentionally created economic emergency conditions so that they could smoothen the lobby of 20 major corporations for Rp17 trillion investment which they said could create 30,000 jobs.
The National Mandate Party (PAN) endorsed the decision but gave some notification.
The eight other factions which endorsed the decision were Golkar Party, United Development Party, Peace and Prosperous Party, Democrat Party, Nation`s Awakening Party, Reformed Star Party, Democracy Pioneer Star Party faction and Peace and Prosperous Party .
Reports had it the much-awaited law would facilitate foreign investors that wanted to invest in Batam, Bintan and Karimun.
The factions which endorsed the decision stated Indonesia had continued facing dwindling investment since the economic crisis in 1998 and Batam, however, still had a competitive edge in investment though it had no legal umbrella for investment activity.
The plenary meeting was attended by Trade Minister Mari Elka Pangestu, Finance Minister Sri Mulyani, Justice and Human Rights Affairs Minister Andi Mattalata, Investment Coordinating Body chairman Muhammad Lutfhi, and Kepri Governor Ismeth Abdullah.(*)