Indonesia ready to compete with Johor's Special Economic Zone: Minister

Luhut Binsar Pandjaitan, Indonesia's maritime and investment affairs minister, attends the International Battery Summit (IBS) in Jakarta, Indonesia, on Jul 29, 2024. – Bloomberg

JAKARTA: Indonesia’s Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan affirmed Indonesia's readiness to compete with the Special Economic Zone (KEK) established by Singapore and Malaysia in Johor, reported Antara news agency.

"We are not afraid to compete with them. We have a good capital strength and the credibility of trust that we have built so far," the minister remarked on the sidelines of the inauguration of the PT Indonesia BTR New Energy Material lithium battery anode factory in Kendal District, Central Java, on Wednesday (Aug 7).