COORDINATING MINISTRY FOR ECONOMIC AFFAIRS
REPUBLIC OF INDONESIA

PRESS RELEASE
HM.4.6/116/SET.M.EKON.3/03/2023

Inaugurated by President Joko Widodo, the Lido Special Economic Zone Absorbs Investment and Increases National Tourism Competitiveness

Bogor, March 31st, 2023

The Government continues to make efforts in transforming Special Economic Zones (SEZ) development policies by emphasizing the orientation towards the realization of SEZs that are capable of building added value through mastery of technology and human resources. In accelerating regional growth, SEZ has also developed the tourism sector to become one of the dominant drivers.

The recovery of the national tourism sector itself has begun to be seen from the increase in the number of foreign tourist visits in 2022 which reached 5.47 million visits. The tourism sector's foreign exchange has also moved back above USD 16 billion.

“I am happy that here will be a theme park, movieland, wáter park, techno park, automotive, everything is complete. So, in the future, it is hoped that there will be no more people who prefer to vacation abroad than in their own country. There are 11 million of our people who go on holiday. If only half of them is taken, of course the foreign exchange will not be wasted, it will enter this country. This is what the Government hopes for, so infrastructure development that runs economically is utilized by the private sector," said President Joko Widodo when inaugurating the Lido SEZ in Bogor Regency, West Java Province, Friday (31/03).

Stipulated through Government Regulation Number 69 of 2021, SEZ Lido has an area of ​​approximately 1,040 hectares and is committed to realizing investments of up to USD 2.4 billion or the equivalent of IDR 32 trillion and absorbing 29,545 workers within 20 years.

"With the theme of tourism and the creative industry, the Lido SEZ is expected to press outflow foreign exchange from national tourists up to USD 4.1 billion in the next 20 years. Especially this year, SEZ Lido is committed to absorbing an investment of IDR 694 billion and absorbing a workforce of 877 people," said the Coordinating Minister for Economic Affairs Airlangga Hartarto who is also the Chair of the National SEZ Council when accompanying President Joko Widodo on the occasion of the inauguration of the Lido SEZ.

As of March 2023, the total investment realization in Lido SEZ has reached IDR 3.4 trillion, an increase of 72.5% or IDR 1.4 trillion compared to 2021. This investment includes investment in area development and investment in business actors in the area. Meanwhile, the number of workers absorbed to date has reached 1,690 people, an increase of 671.6% or as many as 1,471 people compared to 2021.

The implementation of the investment in Lido SEZ itself is divided into 3 stages, namely stage 1 with a target of IDR 14.2 trillion, stage 2 with a target of IDR 5.8 trillion, and stage 3 with a target of IDR 12 trillion. Currently, Lido SEZ is working on phase 1 development which includes several projects such as Lido Lake Hotel Extension, Movieland, Music and Art Center, Golf Course 18-Holes & Club House/Country Club, Theme Park, as well as infrastructure and facilities.

On this occasion, the President's entourage and the Ministers also monitored the entire Lido SEZ location via viewing deck, visited the golf course, witnessed one of the filming processes at Movieland, and ended with the signing of the inscription of the inauguration of Lido SEZ by the President of the Republic of Indonesia at the Lido Music & Art Center (LMAC). (rep/dlt/map/fsr)

***

Head of Communications, Information Services, and Meetings Bureau
Coordinating Ministry for Economic Affairs of the Republic of Indonesia
Haryo Limanseto

Website: www.ekon.go.id
Twitter, Instagram, Facebook, Tiktok, & Youtube: @PerekonomianRI
Email: humas@ekon.go.id
LinkedIn: Coordinating Ministry for Economic Affairs of the Republic of Indonesia