The industrial estate will also increase the national foreign exchange, as almost all industries in KIT are export-oriented, the president remarked.
"(The industrial zone) would also benefit our balance of trade, as almost all industries (in the zone) are export-oriented," Jokowi noted in his press statement after observing the KCC Glass project in the Batang KIT, Batang District, Central Java, on Wednesday.
The president stated that construction of the factory complexes in the industrial estate had commenced two years ago, and the work was currently ongoing.
"(The work) commenced two years ago. If we see now, the construction of factories has commenced despite the current progress being only eight percent," he remarked.
In the first development phase, the government has developed and prepared a 450-hectare plot of land in the industrial estate that would accommodate various factories that belong to the glass, pipe, and electrical battery industries, the president noted.
"The most important aspect of the presence of major companies here is that a lot of job opportunities (for residents) would be opened," Jokowi pointed out.
Jokowi drew attention to the fact that the integrated electric battery factory in the industrial estate alone could provide jobs to some 20 thousand people.
Meanwhile, Minister of Investment and Head of the Investment Coordinating Board Bahlil Lahadalia stated that land plots provided for the first development phase in the Batang KIT had been sold out, and another one thousand hectares of land will be available for the second development phase.
"In this area, we have prepared one thousand more hectares for the second development stage. Of the one thousand hectares available, LG has committed to tagging 275 hectares, and Foxconn has also announced their inclusion in (the area available) for the second stage. God Willing, if more American companies signalled their interest (to invest), they would be accommodated here," Lahadalia remarked.
The Batang KIT has a total of 4,300 hectares of land, with development proceeding in three stages, he stated.
"We are convinced that by late 2023 and before 2024, our 50-percent occupancy target of the zone's 4,300 hectares of land would be achieved," the minister affirmed.
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Translator: Indra Arief P, Nabil Ihsan
Editor: Rahmad Nasution
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