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Govt' makes incentive plan for investors of new capital city project

Tempo - June 17, 2022

Antara, Jakarta – The Indonesian government is planning to formulate fiscal and non-fiscal incentive schemes that are hoped to attract funding for the infrastructure developments of the new capital city project set to be located at East Kalimantan.

"The incentives that are being prepared must be able to attract investors but surely it must not violate existing provisions," said the New National Capital (IKN) transition team's communication coordinator Sidik Pramono, on Friday, June 17, 2022, as reported by Antaranews.

Sidik however, did not provide details of the incentive scheme but assured people that there will be many options available when it is publicly announced. "There are various [incentives], which I cannot yet announce. Hopefully, in the near future it will [be announced]," Sidik said.

In addition to completing the incentive scheme, Sidik said that the new capital city head authority Bambang Susantono along with deputy head Dhony Rahajoe have intensified their efforts in meeting with potential investors for the New National Capital development.

Bambang even promoted the project at the World Economic Forum in Davos, Switzerland back in May 2022.

"A number of potential investors from various countries, from various business fields, have expressed their interest in contributing to IKN development," said Sidik who remains optimistic that this plan will attract investors from the private sector.

Source: https://en.tempo.co/read/1602951/govt-makes-incentive-plan-for-investors-of-new-capital-city-projec