Indonesia is targeting a revamp of its Batam island region to draw in $60bn of investment as an alternative shipping and manufacturing hub to Singapore.
The free-trade zone has already attracted about $20bn since 2007.
Authorities want to reclaim about 8,000 hectares of unused or confiscated land, Intellasia reported.
“We aim to develop enclaves of special economic zones in Batam,” said Edy Putra Irawady, acting head of Batam Indonesia Free Trade Zone Authority.
“Based on a rough calculation, the potential investments including those in the pipeline are worth around $60bn.”
He believes Singapore is too "crowded".
"Talking about crude transhipment service, for instance, some vessels have moved out from Singapore to Batam.
“Shippers from regions such as Jakarta and Semarang also rely on direct call services in Singapore to deliver their goods overseas. We want to shift them all to Batam later.”
Taiwan’s Pegatron Corp has already announced an investment partnership with local electronics manufacturer PT Sat Nusapersada, while Apple plans to open a new development academy in Batam, according to the government.
