Ibu Kota Nusantara (IKN): Indonesia’s new capital and investment hub
Indonesia is making significant strides with the development of its new capital, Ibu Kota Nusantara (IKN), situated in East Kalimantan on Borneo island. This monumental project marks a major transition from the overcrowded and subsiding Jakarta to a sustainable, smart, and green city, aligning with the nation’s Vision 2045 to become a developed country.
The IKN project is more than just a relocation; it symbolizes a strategic effort toward balanced development and economic transformation throughout Indonesia.
IKN offers numerous investment opportunities. The city's infrastructure requires extensive construction and real estate projects, including residential, commercial, industrial, and logistics facilities. Aiming to be powered by renewable energy, there is a strong demand for investments in solar, wind, and hydroelectric power.
Additionally, a comprehensive public transportation network, including cycling paths, rail lines, and a new airport, presents significant investment potential. Technological investments in smart city solutions, digital infrastructure, and e-governance are also crucial. The development of top-tier educational and healthcare facilities is essential to support the growing population.
To attract both local and foreign investors, the Indonesian government has introduced several incentives, as outlined in Government Regulation PP 12/2023. These incentives include exemptions from foreign ownership limitations under certain conditions, simplified processes for obtaining long-term work permits for foreign employees, exemptions on import duties for capital goods and machinery, and streamlined processes for business setup and operations.
The IKN project, with an estimated cost of IDR 466 trillion (USD 32.7 billion), is set to be completed by August 17, 2024, Indonesia’s Independence Day. This initiative is expected to boost economic growth and diversify the nation’s economy, supporting Indonesia's journey to becoming a developed country by 2045.
As of the latest reports, 167 investors have expressed interest in the IKN project, with local investors leading the initial inquiries. This strong interest underscores the potential and confidence in the development of the new capital.
IKN represents a transformative opportunity for investors looking to contribute to Indonesia’s sustainable and economic growth. By leveraging incentives, understanding local regulations, and forming strategic partnerships, investors can participate in and benefit from the promising future of Nusantara. As the city evolves, it stands as a beacon of innovation and sustainability in Southeast Asia.
Indonesia Solo Expo 2024 to Launch in Davao City
The Consulate General of the Republic of Indonesia in Davao City is excited to announce the 1st Indonesia Solo Expo 2024. This milestone event will be held from June 6 to 9 at Ayala Malls Abreeza of Davao City, serving as a platform for trade, cultural and tourism exchanges in Indonesia.
The Indonesia Solo Expo 2024 will showcase a diverse range of products and innovations from small and medium enterprises and leading Indonesian companies. The event aims to strengthen economic and cultural ties between Indonesia and Mindanao, the Southern Philippines, providing an opportunity for businesses and consumers to engage directly and explore popular Indonesian products.
The expo will feature an impressive lineup of exhibitors, including:
PT Shankara Sehat Sejahtera, CV Pangantama Makmur Abadi, PT Ultra Sakti, CV Estetika Beauty Kirtya, Erisa Batik & Jewelry, PT Buana Pertiwi Mandiri, PT Central Proteina Prima Tbk, CV Palmy Globe Nusantara, PT Global Solusi Indonesia, Glorious Dexa Mandaya, Inc. (Dexa Group), Eco-Edge Home Interiors & Supplies Inc.(PT. Bangun Perkasa Adhitamasentra), Decoarts Marketing Incorporated – CitiHardware (PT. Keramik Diamond, PT. Platinum Ceramics, PT. Sun Power Ceramics), IndoMindanao Resources Corporation (PT. Indofood), United Family Food Philippines Inc.(Milkita), and McAsia Foodtrade Corporation Philippines (ABC). Additionally, cultural displays will be presented by the Blue Economy Foundation and Dharma Wanita Persatuan.
The opening ceremony on June 6, 2024, will feature remarks from the Honorable Agus Trenggono, the Consul General of the Republic of Indonesia in Davao City, and the ceremonial sounding of the gong, symbolizing the official start of the expo.
Attendees will also enjoy special cultural Indonesian performances by the Blue Economy Foundation group from Jakarta, and various cultural and arts partners, highlighting the Indonesia’s rich heritage.
The Indonesia Solo Expo 2024 promises to be an exciting and enriching experience for all attendees. The public is invited to explore Indonesian products, connect with exhibitors, and enjoy cultural performances. Economy#Indonesian Consulate General in Davao City