Huge Investment Interest in IKN

Tempo is reporting that the Nusantara Capital City Authority (IKN Authority) received a total commitment of investment interest worth IDR 41.4-trillion during the three groundbreaking stages. Head of the IKN Authority Bambang Susantono said this is a clear indication of investors’ confidence and optimism in the prospect of the project.

“IKN is not just a new city, but a symbol of Indonesia’s transformation into a new and sustainable civilization,” Bambang said in a written statement on Wednesday (20/12/23.)

The IKN Authority has also received 330-Letters of Intent (LoI), with 55-percent of them coming from domestic investors looking to develop the national axis sector. To date, Singapore, Japan, China, and Malaysia have submitted the highest number of LoIs, say Tempo.

The investment value in the first groundbreaking on September 21 to 22 was IDR 23-trillion consisting of ten companies in the Nusantara Consortium, namely Agung Sedayu Group (Lead Consortium), Salim Group, Sinar Mas, Pulau Intan, Djarum, BCA Group, Wings Group, Adaro Group, Barito Pacific, Mulia Group, and Astra Group.

In the second groundbreaking on November 1 to 2, the investment value reached IDR 13.1-trillion from the Ministry of Transportation, Mayapada Hospital, Pakuwon Group, JIS, Hermina, Bank Indonesia, BPJS Employment, and PLN Indonesia. At this stage, the government also inaugurated the revitalization of the state elementary school or SDN 020 Sepaku, report Tempo.

Investors interested in the IKN project can benefit from various incentives and compensation as laid out by Government Regulation No. 12 of 2023, including zero-percent corporate income tax (PPh) for ten years, zero-percent import value-added tax (VAT), zero-percent sales tax on luxury goods (PPnBM), zero percent import duty, and zero-percent land and building tax (PBB) for ten years, according to Tempo.

Bambang explained that the IKN development is not only focused on economic progress but also on preserving the environment. The green smart city concept of IKN is prioritized for a sustainable future for future generations.

“IKN is not just a city, but a manifestation of the vision of a progressive, inclusive, and sustainable Indonesia,” Bambang said. “The active participation of investors represents the collective spirit to achieve a Golden Indonesia 2045.”

Source: Tempo

Stock image by Frames For Your Heart on Unsplash

 

Latest Article
Yuliot Inaugurated as Deputy Minister of Investment
According to reporting from Antara News, President Jokowi inaugurated the former deputy of investment...
QR Code Payments Between Indonesia, S. Korea Linked
According to reporting from Antara News, Indonesia and South Korea have agreed to expand cooperation...
President Jokowi Discusses Trade Cooperation with UAE
President Jokowi held a bilateral meeting with UAE President Mohamed bin Zayed Al Nahyan (MBZ) at Qasr...
Indonesia's Trade Balance Remains in Surplus in June 2024
  Indonesia’s Central Statistics Agency (BPS) announced a trade surplus of US$2.39 billion...
Minister: Downstreaming Leads to a Golden Indonesia
Speaking at a public lecture at the State Institute of Public Administration (IPDN) in Sumedang, West...

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.