Monday, 15 Safar 1441 / 14 October 2019

Monday, 15 Safar 1441 / 14 October 2019

Sumatra's agriculture sector holds huge development potential

Selasa 26 Jul 2016 15:55 WIB

Red: Julkifli Marbun

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Foto: Imam Budi Utomo/Republika

REPUBLIKA.CO.ID, PALEMBANG -- Sumatra's agriculture and plantation sectors hold huge development potential as it has abundant natural resources, the Investment Coordinating Board's Deputy of Investment Implementation Control, Azhar Lubis, stated at the Regional Investment Forum held here, Tuesday.

"The Sumatra region, located in the Indian Ocean, has rich natural resources and offers opportunities for developing the agriculture and plantation sectors," he noted.

Azhar explained that the board was offering investment and development opportunities outside Java Island, especially in natural resources-based industries, such as agriculture and plantation.

The special economic zones, such as Sei Mangkei and Kuala Tanjung in North Sumatra and Tanjung Api-Api in South Sumatra, are attracting investors to expand their businesses in the provinces.

In addition, the construction of the 2.7 thousand-kilometer-long Trans Sumatra toll road will attract potential investors.

The toll road will support the construction of the Asian Highway in Sumatra, which will improve connectivity and boost economic growth on the island.

South Sumatra Governor Alex Noerdin said the administration plans to develop large-scale industries whose raw materials can be sourced from the province.

"We are targeting to attract export-oriented investment in South Sumatra," he noted.

According to Alex, South Sumatra's infrastructure was of international standard.

South Sumatra's readiness to organize the ASEAN Games in 2018 demonstrates that it is ready to attract investment, including from foreign nations.

Data obtained from the Investment Coordinating Board revealed that Sumatra's investment realization in 2015 had reached Rp84.4 trillion, an increase of 19 percent compared to Rp71 trillion recorded in 2014.

In the first quarter of 2016, investment realization was recorded at Rp33 trillion, or up by 63.9 percent compared to Rp21.1 trillion in the same period last year.

South Sumatra registered the highest growth at 385 percent, followed by West Sumatra, at 177 percent and Jambi, at 34 percent.

Taking into account Sumatra's investment potential, it is expected that the island will be able to contribute Rp89.22 trillion, or 15 percent of the national target of Rp594.8 trillion in 2016.

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