Indonesia’s new capital attracts over 2.6 billion USD of investment
A total of 41.4 trillion IDR (2.67 billion USD) has been invested in projects launched as part of the first, second and third phases of Indonesia’s new capital Nusantara this year.
Indonesian President Joko Widodo attends a groundbreaking ceremony for Nusantara Capital Airport on November 1. (Illustrative photo - Source: executive office of the Indonesian President)
Hanoi (VNA) – A total of 41.4 trillion IDR (2.67 billion USD) has been invested in projects launched as part of the first, second and third phases of Indonesia’s new capital Nusantara this year.
Bambang Susantono, the head of the Nusantara Capital Authority (OIKN), believed that the amount reflects investors’ strong confidence in the development prospects of Nusantara. With the commencement of phase 3 of this over 30 billion USD mega-project on December 20 and 21, the OIKN is increasingly optimistic about the growing commitments of investors.
So far, Nusantara has received 330 Letters of Intent (LOI), with 55% coming from domestic investors focusing on the development of a "national axis" region. Currently, Singapore, Japan, China, and Malaysia are the four countries with the highest number of LOIs there.
According to statistics, the investment value in the first phase, which was launched on September 21-22, amounted to 23 trillion IDR (1.4 billion USD). The second phase started on November 1-2 with a total investment value of 13.1 trillion IDR (846 million USD).
Currently, the Indonesian Government is offering companies interested in investing in the new capital a range of incentives, which includes full exemption from corporate income tax, value-added tax on imported goods, special consumption tax, import duties, land tax, and construction fees for a decade./.
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Indonesian President Joko Widodo attends a groundbreaking ceremony for Nusantara Capital Airport on November 1. (Illustrative photo - Source: executive office of the Indonesian President) 
