Batam, an island that is located in south of Singapore and is a part of the Riau Islands, has been inaugurated as a Free Trade Zone (FTZ) since 1973. FTZ is an area within the territorial jurisdiction of the Republic of Indonesia that is separated from the customs area so that it is free from the imposition of import duties, value added tax, sales tax on luxury goods, and excise so that companies in the area can operate without tariff limits or import quotas. Thus, from these incentives, investors from various countries are interested in investing in FTZ Batam. It was noted that in 2023, the increase in foreign investors in FTZ Batam reached a total of Rp500 trillion because FTZ Batam became one of the destinations for foreign investment in Indonesia.
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