One-Stop-Shop For Investors in Nusantara

Antara News are reporting that President Joko Widodo has directed that an integrated one-stop-shop system be developed to support investors participating in Nusantara city’s development, according to the Nusantara Capital Authority (OIKN).

OIKN Head Bambang Susantono said the one-stop-shop system must be developed to accelerate the processing of permits for the new capital’s development and to ensure that it is consistent with on-site conditions and prevailing laws.

“It has been decided that (to address) investment issues, we have been asked to set up a one-stop shop system where other ministries and institutions will be included there,” Susantono announced at a press conference at the Presidential Palace Complex on Monday.

Antara News say investors who are keen to invest in the new capital will be able to access the integrated system, which will be connected with the relevant ministries or institutions, such as the Coordinating Ministry of Maritime and Investment Affairs, Ministry of Finance, Ministry of Public Works and Public Housing, and the Investment Coordinating Board (BKPM), he said.

The authority head added that investors facing issues related to permits and tax incentives could also use the system to seek a solution.

“There are some issues and tax incentives that we must elaborate on, and surely, investors are keenly waiting for (the system’s) implementation,” Susantono said.

Meanwhile, he noted that the new capital authority has received 209-letters of intent from investors interested in the new capital’s development so far, say Antara News.

He added that 39 of the 209-letters of intent have been signed as part of a non-disclosure agreement as the discussion has become more detailed and involves an exchange of data.

“Afterward, they will usually inspect on-site conditions to make a feasibility study and a business plan,” Susantono said. 

Source: Antara News

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