The Nusantara National Capital City Authority (OIKN) signed a non-disclosure agreement (NDA) with State Power Investment Cooperation (SPIC) and JOE Green Pte Ltd of Singapore on Thursday (8/6). The NDA was sign in relation to the Nusantara Capital City (IKN) development project.
The agreement was signed by Deputy Chairman of Funding and Investment of OIKN Agung Wicaksono, along with Advisor of SPIC Steven Yeo, and Managing Director of JOE Green Boediman Widjaja during Ecosperity Week in Singapore.
Investors commitment to renewable energy and waste management
The two companies, which work on renewable energy and waste management, matches the OIKN’s top priority sector. IKN aims to build up to 7.16 gigawatts from renewable energy power plants, to accommodate the 1.9 billion population in 2045.
“SPIC believes that Nusantara is a great investment opportunity, and we look forward to collaborate together,” SPIC Advidor Yeo said on Thursday (8/6).
Meanwhile, Widjaja said that JOE Green is committed to supporting sustainability through the use of recycling material. He further stated that Nusantara, with all of the incentives, is a perfect place to invest.
Following the signing, both parties will exchange data that will be used to prepare a feasibility study. This study will include the evaluation of economic viability and market feasibility to assess the investment’s potential.
Interesting packages to lure investors to IKN
The Indonesian government, including the OIKN, promises to welcome all investors through Public Private Partnerships, direct investment schemes, along with tax and non-tax incentives, including land rights up to 95 years.
During Ecosperity Week in Singapore on Wednesday (7/6), President Joko “Jokowi” Widodo announced 300 investment packages worth US$2.6 billion for the IKN project.
Jokowi also offered handsome incentives to Singaporean businesses to encourage them to invest in IKN. These include tax benefits such as tax holidays, value-added tax exemptions, super-deductions, and import duty waivers.
Jokowi assured investors of Indonesia’s sociopolitical stability after the 2024 Presidential Election, regardless of who becomes the next president.
“Everything will be fine; you have nothing to worry about. Your investment in Indonesia will be safe,” Jokowi said.
