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Malaysian companies keen to invest in Indonesia’s new capital city

Jakarta (VNA) - Malaysia reportedly tops the list of countries with investors submiting the most letters of intent for investments in Indonesia’s new capital Nusantara.

Agung Wicaksono, deputy for financing and investment at the Nusantara Authority, said on March 9 that Indonesia has received about 100 letters of intent so far for investments in the new capital, with half from foreign entities, led by Malaysia.

Out of the 100 letters received, 20 entities have entered non-disclosure agreements with the authority, he added without elaborating further.

This report came after the head of the Nusantara Authority Bambang Susantono said Indonesia’s President Joko Widodo has approved a new regulation that offers tax incentives to businesses investing in Nusantara, including tax holidays of up to 30 years and 95 years of land use permits.

Susantono added that China is specifically interested in construction-related activities and renewable energy while countries such as the Republic of Korea (RoK), Japan, and other European countries have also expressed interest to invest in Nusantara.

Susantono also said that the authority is mulling to create an individual enterprise to handle the business-to-business side of the investments.

Prime Minister Datuk Seri Anwar Ibrahim said on March 7 that at least 10 major Malaysian companies are looking into the possibility of making major investments in development projects in Nusantara

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