"The great interest harbored by other countries to invest in Nusantara City can be seen through the visits of Korean, Japanese, and Swiss delegations to the new capital to observe the development progress and explore investment potentials," Nusantara Capital Authority Head Bambang Susantono noted as per the statement here on Thursday.
The most recent data showed that 167 investors had sent their letters of intent to invest in the new capital development, he revealed while adding that five national and foreign investors had received letters to proceed from the government to develop housing complexes for state apparatuses relocated to the new city.
The authority head remarked that to boost investment in the new capital, Government Regulation No. 12 of 2023 on special policies was issued to facilitate business permits, ease of business, and investment in the new capital.
The purpose of the regulation is to provide assurances, opportunities, and greater participation to the business sector to expedite Nusantara City's development, he affirmed.
Such policies are devised to ensure the new capital will develop not only as a center of government but also as the epicenter of Indonesia-centric economic development, Susantono noted.
He also expressed optimism that the business sector would contribute to realizing Nusantara City as the hub of economic activities that will drive Indonesia's economic development in future.
"The Nusantara City is a major project that requires investment and collaboration between the government and the business sector. The city, developed over a green area, gives a unique opportunity to create a sustainable and efficient urban environment," Susantono expounded.
The government is determined to fulfil only 20 percent of the new capital development budget from the state budget, while the rest of the budget will be procured through investments.
The new capital, established by Law No. 3 of 2022 on National Capital, has major investment potential in various sectors, such as housing, transportation, energy, and tourism. The government also expects the new capital to be the hub of innovation.
Translator: Aji Cakti, Nabil Ihsan
Editor: Sri Haryati
Copyright © ANTARA 2023
