JAKARTA, July 29 (Bernama-ANTARA) -- President Joko Widodo (Jokowi) announced the completion of a new regulation designed to attract more foreign investors to Nusantara, reported ANTARA news agency.
During a visit to the new capital city on Sunday, he said that there have been 300 letters of intent (LoI) from foreign investors for Nusantara's development.
The government will later invite interested foreign investors to inspect the development progress in Nusantara.
Jokowi also mentioned that the government is still searching for candidates to fill the OIKN leadership positions.
Currently, Minister of Public Works and Public Housing Basuki Hadimuljono acts as the OIKN head, and Deputy Minister of Agrarian Affairs and Spatial Planning Raja Juli Antoni is appointed as the acting OIKN deputy head.
Jokowi has signed a presidential regulation that provides incentives for prospective investors participating in building services and facilities in Nusantara.
Incentives include guarantees of certainty of the term of land rights, such as the right to cultivate, which is granted for up to 190 years.
Jokowi said this regulation aims to attract as much investment as possible, from both domestic and foreign investors.
He stated that the OIKN has the authority to provide land use rights to investors in Nusantara.
--BERNAMA-ANTARA
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