Pharma Ingredients suppliers to benefit from Indonesia's first ever tax free logistics centers
JAKARTA, Indonesia, March 14, 2016 /PRNewswire/ -- On March 10th Indonesia launched its first-ever bonded logistics centers (PLB) to which products can be shipped and stored for up to three years during which they will be exempted from import duties and import-related taxes.
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This constitutes a long awaited support to local industries including pharma which still imports up to 90% of the ingredients needed for the production of medicines. By storing goods in PLBs, overseas suppliers can drastically cut the delivery time to the local buyers.
This breaking news together with many other hot topics will be discussed at CPhI South East Asia the only regional event dedicated to the pharma industry, held at Jakarta International Expo during April 6-8, 2016. Sign up now to attend!
11 PLBs were simultaneously inaugurated by President Joko "Jokowi" Widodo who told the audience that Indonesia, the biggest economy in the region, had the potential to replace Singapore and Malaysia as Southeast Asia's logistics centers (Source: The Jakarta Post).
The centers are located in Jakarta (Cakung, Sunter), Banten (Merak), East Kalimantan (Balikpapan), West Java (Cibitung, Karawang, Cikarang and Subang) and Bali (Benoa and Denpasar). The government plans the establishment of 50 more bonded logistics centers across the archipelago in 2017.
The CPhI series of events drives growth and innovation in the global pharmaceutical industry, with leading exhibitions and online communities covering every step of the supply chain from drug discovery to finished dosage.
More than 100,000 visitors meet over 6,000 exhibitors at events in Europe, China, India, Japan, South East Asia, Russia, Brazil, Istanbul and Korea every year to exchange ideas, form alliances and conduct business on an international scale.
Contact Person: Ivan Ferrari
Phone Number: +62 21 2930 5959 ext 138
Email: Ivan.Ferrari@ubm.com
SOURCE CPhI - UBM
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