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Indonesia to offer incentives to companies investing in new capital

Indonesia will offer generous incentives to companies investing in a 32 billion USD project to build a new capital city in the country called Nusantara, an official has said.
Jakarta (VNA) - Indonesia will offer generous incentives to companiesinvesting in a 32 billion USD project to build a new capital city in thecountry called Nusantara, an official has said.

Bambang Susantono, head of the NusantaraNational Capital Authority, revealed the information at an event to introducethe new capital project held in the current capital Jakarta on October 18.

“We will give fiscal and non-fiscalincentives, including a 30-year tax break for investment in infrastructure andpublic services worth over 10 billion Rp (645,000 USD),” he said.

There will also be a 20-year tax exemption for investment in shopping malls, tourismspots and MIC facilities, he said, adding that the government plans to offer a350% tax deduction for investment in research and development activities inNusantara.

In his speech, Indonesian President JokoWidodo said the new capital will be built into a smart city based on forest andnatural resources, with green zones accounting for 70% of its total area./.
VNA
#Indonesia#new capital city#incentives#Nusantara#Bambang Susantono#vietnam news agency#vietnamplus
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