On August 17th, Indonesian President Joko Widodo will hold the Independence Day commemorative ceremony in the new capital. Wang shares three points:
First, Indonesia's new capital is located near Balikpapan, the provincial capital of East Kalimantan, covering an area of 2,560 square kilometers, including a core area of 560 square kilometers and an expansion area of 2,000 square kilometers. Construction began in July 2022, and as of May 2024, 80% of the progress has been completed. Indonesian state-owned enterprises are responsible for the construction of the presidential palace and ministry office buildings, while Indonesian private enterprises are responsible for supporting facilities such as shopping malls, hotels, schools, and hospitals, with participation from some Indonesian-Chinese conglomerates.
Second, according to news reports, in June 2024, the Indonesian Minister of Transportation will be the first to move to the new capital for work. On August 17th, President Joko Widodo will hold the Independence Day celebration ceremony in the new capital, with an estimated 8,000 guests from various sectors of Indonesia expected to attend. Starting in September, 38 central government ministries will relocate to the new capital, involving over 12,000 civil servants. The full relocation of the central government will be completed from 2025 to 2035. By 2045, the population of the new capital is expected to reach 2 million.
Third, as of now, the new capital has held five groundbreaking ceremonies, attracting investments of IDR 50 trillion (approximately RMB 23.8 billion). The construction over the next 10 years will continue to drive investment in Indonesia. The Indonesian government has also offered a basket of preferential policies, including land tenure of 160 to 190 years, and for companies established in the new capital, an investment of just IDR 10 million (approximately RMB 4.5 million) qualifies for a maximum corporate income tax reduction of up to 30 years. Under normal circumstances, an investment of over RMB 50 million is required to apply for investment incentives.
Alright, if you have any questions about the investment opportunities in Indonesia's new capital, feel free to ask. I am Wang, with 20 years of experience in Indonesia. Join the Indonesia Business Connect to help you efficiently explore the Indonesian market.
行业快讯
Wang's Talk: Detailed Progress of Indonesia's New Capital Construction and Investment Opportunities in May
On August 17th, Indonesian President Joko Widodo will hold the Independence Day commemorative ceremony in the new capital. Wang shares three points:
First, Indonesia's new capital is located near Balikpapan, the provincial capital of East Kalimantan, covering an area of 2,560 square kilometers, including a core area of 560 square kilometers and an expansion area of 2,000 square kilometers. Construction began in July 2022, and as of May 2024, 80% of the progress has been completed. Indonesian state-owned enterprises are responsible for the construction of the presidential palace and ministry office buildings, while Indonesian private enterprises are responsible for supporting facilities such as shopping malls, hotels, schools, and hospitals, with participation from some Indonesian-Chinese conglomerates.
Second, according to news reports, in June 2024, the Indonesian Minister of Transportation will be the first to move to the new capital for work. On August 17th, President Joko Widodo will hold the Independence Day celebration ceremony in the new capital, with an estimated 8,000 guests from various sectors of Indonesia expected to attend. Starting in September, 38 central government ministries will relocate to the new capital, involving over 12,000 civil servants. The full relocation of the central government will be completed from 2025 to 2035. By 2045, the population of the new capital is expected to reach 2 million.
Third, as of now, the new capital has held five groundbreaking ceremonies, attracting investments of IDR 50 trillion (approximately RMB 23.8 billion). The construction over the next 10 years will continue to drive investment in Indonesia. The Indonesian government has also offered a basket of preferential policies, including land tenure of 160 to 190 years, and for companies established in the new capital, an investment of just IDR 10 million (approximately RMB 4.5 million) qualifies for a maximum corporate income tax reduction of up to 30 years. Under normal circumstances, an investment of over RMB 50 million is required to apply for investment incentives.
Alright, if you have any questions about the investment opportunities in Indonesia's new capital, feel free to ask. I am Wang, with 20 years of experience in Indonesia. Join the Indonesia Business Connect to help you efficiently explore the Indonesian market.
