VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The Indonesian government is drafting regulations to lay the legal basis for supporting investment and businesses and issuing business permits in the new Indonesian capital of Nusantara (IKN).

"The draft government regulations are expected to be completed in the near future so that they can help the IKN Authority, which will start working at the end of this year," coordinator of the IKN information and communication team, Sidik Pramono, said in a press statement released in Samarinda on Thursday.

As a project which has strategic value for the national economy, IKN will offer interesting facilities to investors. Therefore, they are expected to be drawn to invest in the new capital.

"We hope that a number of regulation schemes that we have prepared will give advantages to investors at the regional level so that we can overtake neighboring countries," he said.

The IKN authority will go ahead with its plan for market sounding. President Joko Widodo is expected to lead the market sounding to promote a variety of investment projects in IKN and listen to the aspirations of investors, Pramono informed.

The government intends to invite domestic and foreign business players to get involved in IKN development so that as little state budget funds as possible are used for the purpose, he said.

"Looking ahead, IKN will open wide business opportunities in the fields of maritime affairs and fisheries, agriculture, energy, trade, health, education, culture, and tourism, and other sectors, as contained in the IKN masterplan," he added.

The IKN master plan covers the government's commitment to provide equitable access to the entire territory of the Unitary Republic of Indonesia and encourage the development of the eastern part of Indonesia. (Antaranews)