Indonesia: Batam sets a course to revive its maritime industry

Batam sets a course to revive its maritime industry
August 5, 2022 https://www.thejakartapost.com/adv/2022/08/05/batam-sets-a-course-to-rev...

The three-day Indonesian Marine and Offshore Expo (IMOX) opened in Batam on Aug. 3, setting a target to attract 2,000 stakeholders in the shipping industry, with a total transaction value of US$100 million—the equivalent of Rp 1.49 trillion.

The Chairman of BP Batam, Muhammad Rudi, officially opened the IMOX 2022 maritime business exhibition and forum at Radisson Golf and Convention Center, Batam.

The event was organized by Kadin Batam in collaboration with BP Batam, and aimed to revive the maritime industry in Batam City to boost economic recovery and to pull in more investment. This year, the theme was “The Future Direction of Indonesia's Maritime Industry,” with the event being the first, largest and only offline shipping exhibition in Indonesia this year. It had 120 participating booths attracting maritime industry players from all across the country, along with some from Singapore, Malaysia and India.

"Congratulations on holding this exhibition. I hope that the fifth IMOX exhibition, which carries the theme of the future direction of the Indonesian maritime industry will be able to stimulate the rise of the maritime industry in Batam," he said.

Batam is home to more than half of Indonesia’s shipyards, including the largest yards in the country, due to its very strategic location in one of the busiest trade routes in the world; the Malacca Strait. However, the industry has been hit hard in recent years.

Rudi said that the pandemic was not the only thing to be blamed for the downturn in maritime business in Batam, adding that unfavorable tax regulations were also a factor. "I have conveyed [this] to the central government, so that there will be improvements to regulations or policies related to the maritime industry in Batam. With the revision of the relevant ministries, it is hoped that Batam will be able to return to being an investment center in the maritime industry," said Rudi.

Furthermore, a dialogue was also held regarding various rules and regulations in Batam City as a Special Economic Zone and Free Trade Zone, presented by relevant agencies, such as the Customs and Excise Agency, Tax Office, Immigration and Security.

IMOX is a regular program of international maritime exhibitions organized under Fireworks Trade Media Group. The expo is expected to be able to revive the maritime business and shipyards in Batam.