Fri, 19 May 2006
May 18 20:54

Indonesia, Singapore to develop special economic zones

Jakarta (ANTARA News) - Indonesia and Singapore plan to sign an agreement to develop special economic zones (SEZ) in Batam and Bintan in June, Singapore ambassador to Indonesia Edward Lee said here on Thursday.

"The development of SEZ is expected to boost investors` confidence. If the SEZ project in Batam and Bintan proves successful it may later be developed in other parts of Indonesia. Success may be accomplished because the cooperation project will combine appropriateness, synergy and competitive edges of Singapore and the Riau islands," he said at the inauguration of Singapore Chamber of Commerce Indonesia (SCCI).

Lee said a SEZ which is suitable for investors would attract foreign investors and in turn open employment opportunities for Indonesians.

"This is a beneficial formula for the two countries," he said.

Indonesian trade minister Mari Elka Pangestu who has ever visited an SEZ in Singapore meanwhile expressed her admiration to the SEZ in Singapore.


"I think that is a well-planned park and it is interesting to see its institutional structure and its joint steering committee in which the central government guarantees an applicable policy while a local government implements it," she said.

Another thing which is interesting to see is that the SEZ is managed by an independent authority which operates like a private business including its one-stop service and contribution to the Singaporean government.

"We are also considering other than the Singaporean model such as the Vietnamese model. We will see which one is suitable for Batam," she said. (*)



News Search/Filter
Transaction Rates
25 May 18
Buy
Sell
AED1
3,850.96
3,850.96
AFN1
196.95
196.95
ALL1
130.92
130.92
AMD1
29.32
29.32
ANG1
7,879.79
7,879.79
AOA1
60.26
60.26
ARS1
575.53
575.53
AUD1
10,708.97
10,708.97
AWG1
7,913.45
7,913.45
AZN1
8,308.55
8,308.55
BAM1
8,476.02
8,476.02
BBD1
7,072.65
7,072.65
BDT1
167.37
167.37
BGN1
8,477.62
8,477.62
BHD1
37,460.09
37,460.09
BIF1
7.99
7.99
BMD1
14,145.30
14,145.30
BND1
10,512.24
10,512.24
BOB1
2,046.94
2,046.94
BRL1
3,876.07
3,876.07
BSD1
14,145.30
14,145.30
BTC1
105,234,969
105,234,969
BTN1
207.19
207.19
BWP1
1,427.85
1,427.85
BYN1
7,086.24
7,086.24
BZD1
7,036.94
7,036.94
CAD1
10,976.83
10,976.83
CDF1
8.76
8.76
CHF1
14,268.93
14,268.93
CLF1
617,159.97
617,159.97
CLP1
22.56
22.56
CNH1
2,218.34
2,218.34
CNY1
2,217.96
2,217.96
COP1
4.87
4.87
CRC1
25.01
25.01
CUC1
14,145.30
14,145.30
CUP1
554.71
554.71
CVE1
149.98
149.98
CZK1
642.82
642.82
DJF1
79.49
79.49
DKK1
2,225.99
2,225.99
DOP1
285.56
285.56
DZD1
121.59
121.59
EGP1
789.46
789.46
ERN1
941.13
941.13
ETB1
513.99
513.99
EUR1
16,581.27
16,581.27
FJD1
6,857.51
6,857.51
FKP1
18,930.22
18,930.22
GBP1
18,930.22
18,930.22
GEL1
5,726.61
5,726.61
GGP1
18,930.22
18,930.22
GHS1
3,041.94
3,041.94
GIP1
18,930.22
18,930.22
GMD1
299.95
299.95
GNF1
1.57
1.57
GTQ1
1,896.70
1,896.70
GYD1
67.71
67.71
HKD1
1,802.47
1,802.47
HNL1
592.76
592.76
HRK1
2,242.51
2,242.51
HTG1
219.77
219.77
HUF1
51.92
51.92
IDR1
1.00
1.00
ILS1
3,966.63
3,966.63
IMP1
18,930.22
18,930.22
INR1
207.19
207.19
IQD1
11.88
11.88
IRR1
0.33
0.33
ISK1
133.90
133.90
JEP1
18,930.22
18,930.22
JMD1
112.08
112.08
JOD1
19,936.92
19,936.92
JPY1
129.39
129.39
KES1
139.92
139.92
KGS1
207.06
207.06
KHR1
3.47
3.47
KMF1
33.69
33.69
KPW1
15.71
15.71
KRW1
13.09
13.09
KWD1
46,848.22
46,848.22
KYD1
16,973.01
16,973.01
KZT1
43.36
43.36
LAK1
1.69
1.69
LBP1
9.33
9.33
LKR1
89.47
89.47
LRD1
103.18
103.18
LSL1
1,119.33
1,119.33
LYD1
10,394.52
10,394.52
MAD1
1,493.28
1,493.28
MDL1
841.35
841.35
MGA1
4.32
4.32
MKD1
269.18
269.18
MMK1
10.44
10.44
MNT1
5.87
5.87
MOP1
1,749.93
1,749.93
MRO1
39.73
39.73
MRU1
396.11
396.11
MUR1
408.27
408.27
MVR1
912.02
912.02
MWK1
19.65
19.65
MXN1
722.40
722.40
MYR1
3,554.57
3,554.57
MZN1
234.11
234.11
NAD1
1,116.88
1,116.88
NGN1
39.31
39.31
NIO1
450.43
450.43
NOK1
1,746.35
1,746.35
NPR1
129.48
129.48
NZD1
9,801.28
9,801.28
OMR1
36,743.25
36,743.25
PAB1
14,145.30
14,145.30
PEN1
4,327.14
4,327.14
PGK1
4,332.66
4,332.66
PHP1
269.32
269.32
PKR1
122.28
122.28
PLN1
3,847.33
3,847.33
PYG1
2.48
2.48
QAR1
3,885.00
3,885.00
RON1
3,581.60
3,581.60
RSD1
140.29
140.29
RUB1
229.77
229.77
RWF1
16.32
16.32
SAR1
3,771.88
3,771.88
SBD1
1,790.84
1,790.84
SCR1
1,051.30
1,051.30
SDG1
783.50
783.50
SEK1
1,613.75
1,613.75
SGD1
10,554.57
10,554.57
SHP1
18,930.22
18,930.22
SLL1
1.80
1.80
SOS1
24.56
24.56
SRD1
1,894.12
1,894.12
SSP1
108.59
108.59
STD1
0.67
0.67
STN1
676.16
676.16
SVC1
1,616.54
1,616.54
SYP1
27.46
27.46
SZL1
1,119.88
1,119.88
THB1
441.84
441.84
TJS1
1,574.14
1,574.14
TMT1
4,030.02
4,030.02
TND1
5,576.26
5,576.26
TOP1
6,206.88
6,206.88
TRY1
2,973.29
2,973.29
TTD1
2,098.57
2,098.57
TWD1
472.64
472.64
TZS1
6.19
6.19
UAH1
541.50
541.50
UGX1
3.76
3.76
USD1
14,145.30
14,145.30
UYU1
452.88
452.88
UZS1
1.76
1.76
VEF1
0.17
0.17
VND1
0.62
0.62
VUV1
132.14
132.14
WST1
5,503.79
5,503.79
XAF1
25.27
25.27
XAG1
235,660.45
235,660.45
XAU1
18,451,763.69
18,451,763.69
XCD1
5,234.05
5,234.05
XDR1
20,072.17
20,072.17
XOF1
25.27
25.27
XPD1
13,826,603.35
13,826,603.35
XPF1
138.95
138.95
XPT1
12,891,716.09
12,891,716.09
YER1
56.50
56.50
ZAR1
1,138.22
1,138.22
ZMW1
1,377.87
1,377.87
ZWL1
43.88
43.88
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services