Year of economic awakening for Indonesia's Riau Islands: officials
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LIKE most economies, the Riau Islands have been hard done by the Covid-19, but Indonesia is targeting growth of 4.8-5.6 per cent this year for the province, before climbing to 5.2-6.3 per cent by 2026, underpinned by a slew of economic recovery programmes.
The province, home to large industrial estates such as the Nongsa Digital Park and Bintan-Batam-Karimun (BBK) Free Trade Zone, which are a stone's throw from Singapore, suffered a 3.8 per cent contraction in its economy in 2020 when travel was restricted by Covid-19 and foreign arrivals (mostly from Singapore and Malaysia) fell to 400,000 from 3 million.
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