President Jokowi Orders The Formation Of Integrated Systems For IKN Investors

DOC / President Jokowi together with regional heads at IKN Nusantara / DOK IST

JAKARTA - President Joko Widodo ordered the Archipelago Capital Authority (OIKN) to form an integrated online system or one stop shop to facilitate and make it easier for investors to explore cooperation in the capital city of Nusantara (IKN).

Head of OIKN Bambang Susantono explained that the establishment of an integrated system of one stop shop aims to accelerate all IKN licensing processes so that they are in accordance with the field and applicable laws and regulations.

"So it was decided that for these investment-related problems, we were asked to create a one-stop shop which will also be attended by other relevant ministries, it will also be inside one stop shop," Bambang said in a press statement at the President's office, Jakarta, Monday, May 15.

Bambang explained that investors who are interested in investing in IKN can visit the integrated system which is connected to related ministries/agencies, including the Coordinating Ministry for Maritime Affairs and Investment, BKPM, the Ministry of Finance and the Ministry of PUPR.

Investors who are constrained by licensing and tax incentives can visit the system so that it can be implemented according to applicable policies.

"There is a problem, there are several incentives regarding taxation that must be elaborated and implemented, of course, this will be awaited by business actors," said Bambang.

Meanwhile, President Joko Widodo on Monday held a meeting regarding the acceleration of investment in IKN.

So far, there have been 209 memorandums of understanding or Letter of Intent (LOI) submitted by investors to the IKN Authority. Of the 209 LOIs, 36 of them have been signed in the form of a non-disclosure agreement where the discussion has been more detailed because there is a data exchange.

"After that, they will usually look in the field, then after that they will make a feasibility study and of course the business plan will be taken," said Bambang.