New Special Economic Zones (SEZs) and industrial clusters based around regional commodity centers will take Indonesia’s GDP up to US$1 trillion and over by 2014, says the government. They also want to boost Indonesians’ per capita share of Gross National Product (GNP) from the current $3,000 to $5,000 or $5,500.

New economic policies aim to attract yet more overseas investment through the creation of Special Economic Zones. The department of Coordinating Economic Minister Hatta Rajasa is scouting the country’s regions to identify potential ‘growth centers’ and so far, they have marked five regions: Riau, North Sumatra, East Kalimantan, East Java and Merauke based on their respective strengths. The first three show potential for the crude palm oil industry, while the latter two show promise in oil, gas and agriculture development.

The government has calculated Indonesia’s current GDP at $700,000 and the economy is growing at a rate of 5.8% to 6.1%. Indonesia has set a target of up to 7.7% growth by 2014, and wants the country to take its place among the four so-called ‘BRIC’ economies of Brazil, Russia, India and China, often predicted to be the world’s largest by 2050.

source & article: The Jakarta Post