He reiterated that the IKN is a long-term dream, whose construction will not be complete in just two or three years.
"It still requires investment; it still needs investors from within and outside (the country). We are pushing this," he said.
To accelerate investment in IKN, Widodo signed Presidential Regulation (Perpres) Number 75 of 2024 concerning the Acceleration of the Nusantara Capital City Development.
The regulation stipulates the provision of incentives to prospective investors participating in building infrastructure and service facilities at IKN.
Related news: President signs decree on IKN development incentives
Related news: Improve weather modification to optimize IKN airport project: minister
The incentives include a guarantee of land rights as well as the right to cultivate (HGU), which will be valid for 190 years (in two cycles of 95 years each).
According to him, the HGU of up to 190 years is aimed at attracting as much investment as possible, both from within and outside the country.
Another incentive is the right to build (HGB) for a total period of 160 years. Like the HGU, it will be granted in two cycles of 80 years each.
The three rights will be granted based on certain criteria and evaluation.
Meanwhile, Widodo added, the government will use the state budget to fund the construction of government infrastructure and facilities at IKN.
Related news: 190-yr cultivation rights at IKN for investor certainty: minister
Translator: Yashinta P, Kenzu
Editor: Yuni Arisandy Sinaga
Copyright © ANTARA 2024
