Morotai set to be Indonesia's new growth hub

$640m project aims to turn remote island into SEZ with tourism and industrial zones

The Morotai Special Economic Zone in North Maluku is expected to generate 30,000 jobs when it is fully operational. Its operator, Jakarta-listed property developer Jababeka, has secured nearly US$170 million (S$232 million) in investments.
The Morotai Special Economic Zone in North Maluku is expected to generate 30,000 jobs when it is fully operational. Its operator, Jakarta-listed property developer Jababeka, has secured nearly US$170 million (S$232 million) in investments.PHOTO: ANTARA

Morotai, one of Indonesia's northernmost islands in the Maluku chain to the east of the sprawling archipelago, is set to be a new growth centre under a 6.8 trillion rupiah (S$640 million) project to develop a special economic zone (SEZ).

Jakarta-listed property developer Jababeka said it has attracted nearly US$170 million (S$232 million) in investments - including from two Japanese firms - for tourism, fishery and agriculture projects, and expects more investors from Taiwan as well as from countries such as China and Singapore.

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A version of this article appeared in the print edition of The Straits Times on July 23, 2018, with the headline 'Morotai set to be Indonesia's new growth hub'. Subscribe