Indonesia to launch Islamic Special Economic Zone to attract investments
Photo: Jakarta, Indonesia - July 14,2013: Cars captured in blurred motion around the Plaza Indonesia roundabout in Jakarta / AsiaTravel / Shutterstock.com
Indonesia is launching an Islamic Special Economic Zone in April, Dumoly Pardede, deputy commissioner for the supervision of the non-banking industry at the Financial Services Authority (OJK) told Salaam Gateway.
According to Pardede, the Special Economic Zone (SEZ) will be called the Jakarta International Islamic Financial Centre (JIIFC). It will aim to become the country’s hub for investment deals for Islamic sectors, he said.
The zone will offer tax exemption on luxury goods, VAT, import duty as well as a reduced land and building tax, similar to other SEZs in the country.
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