Jakarta (ANTARA) - The Nusantara Capital Authority has confirmed that a government regulation on incentives for investment in the new capital Nusantara will be issued in one or two weeks' time.

“The government regulation, God Willing, (will be issued) in one or two weeks. Hence, in the next two weeks, we will organize thorough dissemination (to inform) what incentives will be available in the new capital. The regulation would reveal all,” Nusantara Capital Authority head Bambang Susantono informed after the “2023 Mandiri Investment Forum (MIF)” here on Thursday.

Though he did not specify the kind of incentives that will be provided, Susantono said that they will cover all investable sectors in the new capital.

A presentation on the draft government regulation at the event touched upon incentives such as tax holidays for investments and office relocation, super tax deductions for some activities, a special tax for financial centers, and special treatment on value-added tax.

“As (Investment Minister) Bahlil Lahadalia earlier said, it is correct that it will be far more attractive than other locations. Perhaps, it will take more time or is on the next level, but it is expected that its pioneering trait will make more people attracted to invest in new places,” Susantono said.

Earlier, Investment Minister and Investment Coordinating Board (BKPM) head Bahlil Lahadalia assured that investment in the new capital would be far more attractive than investment in other Indonesian regions.

“I underscore that for the new capital, the tax holiday or other incentives will be greater and better than in other regions in Indonesia. This is because of the lex specialis principle applied at the new capital,” Lahadalia said.

Special facilities will be provided to stimulate investment in Nusantara city and the investment schemes and benefits would bolster investor confidence in the new capital, he said.

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Translator: Ade Irma Junida, Nabil Ihsan
Editor: Azis Kurmala
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