Economy
This regency is included in the largest industrial region outside Java, especially with opening of liquid gas' processing industry (PT. Arun LNG) in Lhokseumawe, 1974. There are many large factories: PT.Kertas Kraft Aceh, pabrik Pupuk AAF (Aceh Asean Fertilizer) and pabrik Pupuk Iskandar Muda (PIM).
In agricultural section, this regency has a good reputation as the important rice producer. The whole North Aceh Regency is the most potential region in Aceh and its income per capita is above Rp 1.4 million without oil and natural gas or Rp 6 million with oil and natural gas.
Gas and petroleum fields were found in Lhokseumawe, North Aceh's former capital city around the 1970s. Then, many investors interesting in its natural resources came to Aceh. Since then, liquefied natural gas (LNG) processed in refinery of PT. Arun Natural Gas Liquefaction (NGL) Co, coming from the installation of PT. ExxonMobil Oil Indonesia (EMOI) in Lhokseumawe industrial zone, had changed this regency to modern petrochemistry industrial region.
There are 2 sectors dominating economical activity in North Aceh, i.e. mining and excavating, and processing industrial sector. In mining sector, the gas wells processed by PT. EMOI surely become one of this sector's pioneering factor. With Rp 8.6 quintillion contribution on 2000 GRDP (Gross Regional Domestic Product), it occupies the first rank followed by industrial sector (Rp 4.7 quintillion).
Read more about this topic: North Aceh Regency
Famous quotes containing the word economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)