President Joko “Jokowi” Widodo has inaugurated the Lido Special Economic Zone (SEZ) in Bogor Regency, West Java. The project is being developed by a subsidiary of Hary Tanoesoedibjo’s MNC Group, PT MNC Land Tbk (KPIG), and covers an area of 1,040 hectares. In the next 20 years, the Lido SEZ is expected to attract investments of up to $2.4bn and employ 29,545 workers. Coordinating Minister for Economic Affairs Airlangga Hartarto said that the Lido SEZ is expected to reduce foreign exchange outflow from national tourists to $4.1bn, or about Rp 61.35tn, in the next 20 years. As of March, the total investment in the Lido SEZ was recorded to have reached Rp 3.4tn, up 72.5% compared to 2021, including investment in regional development and investment by businesses in the area. The number of workers absorbed to date has reached 1,690 people, an increase of 671.6% or 1,471 people compared to 2021.
