Streams of Incentives for Indonesia's New Capital Investors

By Editorial Team 09/03/2023
Summary

President Joko Widodo issued Government Regulation (PP) No. 12/2023, which regulates tax incentives, land rights status, and rules regarding foreign workers in National Capital City (IKN) Nusantara. The regulation aims to provide certainty, opportunities, and investment facilities for businesses to accelerate the development of new capital, equalize development, and boost the Indonesian economy.

Head of the Nusantara Capital City Authority (OIKN) Bambang Soesantono said the issuance proves the government's seriousness in providing legal certainty and convenience for businesses that want to participate in IKN development. The regulation covers business licensing, ease of doing business, investment facilities, supervision, and evaluation.

"This regulation's issuance is very positive, and I am sure it can accelerate the development of IKN Nusantara with investment from the private sector, both from within and outside the country," Bambang said in a written statement released on Wednesday in Jakarta.

**Regulation No. 12/2023 is available for download at the end of this article

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