Indonesia ensures IMT-GT could promote sub-regional SEZ cooperation

Batam, September 30 (ANTARA) - The Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) business forum could be optimized to forge cooperation between the special economic zones (SEZ) of Indonesia, Malaysia, and Thailand, according to an official from the Coordinating Ministry for Economic Affairs.

The ministry's Deputy for International Economic Cooperation Coordination Edi Prio Pambudi said in Batam City, Riau Islands Province, Friday, that the government has prioritized the strengthening of economic corridors by establishing cross-border and regional production networks.

"Through a spatial approach, we aim to optimize the potential of strategic economic zones, such as industrial zones, SEZs, and border areas, as the main instruments for stimulating sub-regional economic growth," he added.

Pambudi further observed that IMT-GT countries should make the most of their strategic geographical position on the world trade traffic route by maintaining collaboration and creating more innovations in the hopes of developing an integrated investment region and creating a better future for their people.

Meanwhile, Wahyu Utomo, the ministry's deputy for spatial planning and regional development coordination, said that the government has made joint IMT-GT promotional activities for SEZs and industrial zones among its focuses.

"The establishment of an SEZ will serve as a catalyst for economic growth, create job opportunities, and support the transfer of technology," he explained.

He added that collaboration in the promotion of SEZs could integrate resources, knowledge, and expertise, which could, in turn, draw more investments, encourage innovation, and stimulate sustainable and competitive economy in the IMT-GT sub-region.

The sub-regional business forum, which involves central and regional governments, academics, and business players, serves as a platform for the three countries to align their development strategies and adjust them to a common perspective.

Furthermore, the IMT-GT is also expected to help its countries identify the potential of their respective industrial zones, which can be jointly optimized to bolster connectivity, develop a supply chain, and position the sub-region as a production hub.