Hope KEKs would help expedite economic recovery: Finance Minister

Finance Minister Sri Mulyani Indrawati has expressed the hope that Special Economic Zones (KEK) would attract domestic and international investors, and thereby expedite the recovery of the national economy, which has been affected by COVID-19.

“We hope that KEK has a significant appeal for investors both domestic and (those from) abroad so that quality jobs can be created with productive activities. Economic recovery in Indonesia can then be accelerated equally,” she remarked during a webinar on KEK, which was accessed from here on Monday.

Currently, the government, through its National Single Window Institution (LNSW), the Directorate General of Taxes, and Directorate General of Customs, is developing an application system specifically for KEKs to improve their competitiveness in the eyes of investors, the minister informed.

“The KEK application system, constructed and managed by LNSW, has the benefit of efficiency so that entrepreneurs can simply use one system for a variety of KEK services. Secondly, there is the benefit of easiness, because it only requires one single document,” Indrawati explained.

In addition, the KEK application system is also transparent, because entrepreneurs, KEK administrators, customs officials, and tax workers can monitor KEK operational activities within one system with the same standard, she added.

The KEK application system is also reliable since it is supported by modern infrastructure within the Data Center (DC) and Data Recovery Center (DRC) at the Ministry of Finance, Indrawati said.

The application system has also been integrated with the Customs Excise Integrated System and Automation (CEISA), Online Directorate General of Tax System, and the Online Single Submission (OSS) of the Ministry of Investment, she informed.

With the application system, it is expected that entrepreneurs within KEKs can enjoy easier access to various facilities, the minister said.

These facilities include exemption from income tax (PPh), value added tax (PPN), sales luxury tax (PPnBM), import duty, and import tax, she added.

“I hope that the development of informatics and technology in KEKs can truly realize the competitiveness of Industry 4.0 development in Indonesia, which is an electronic and automation-based industry,” the minister remarked.

Source: Antara News