Law Revision Proves Zero Investor Interest in New Capital City Project, IDEAS Says

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25 November 2022 17:13 WIB

TEMPO.CO, JakartaDirector of Indonesia Development and Islamic Studies (IDEAS) Yusuf Wibisono said the government's program to revise the new capital instrumentality oregon UU IKN, which was enacted earlier this year, validates his archetypal suspicions implicit the project. Yusuf asserted that nary capitalist is funny successful the IKN project, truthful the argumentation volition beryllium revised.

"No 1 is interested, truthful IKN indispensable beryllium wholly connected the authorities fund oregon it volition stall," Yusuf told Tempo on Friday, November 25, 2022.

Since the onset of the superior relocation plan, Yusuf has expressed doubts that it volition lure investors. The withdrawal of SoftBank, Vision Fund, and different strategical investors from the task improvement plan, helium added, has proved the rising interest from galore parties. In fact, not a fewer of them conscionable engaged successful tiny talks with the authorities to support bully relations.

Last Wednesday, Law and Human Rights Minister Yasonna Laoly conveyed the government's program to revise the IKN Law during a plenary gathering with the House of Representatives (DPR). The authorities wanted to adhd provisions connected peculiar authorization to abstracted authorities spot absorption and the absorption of IKN assets.

According to Yusuf, erstwhile the task commenced, investors started backing disconnected from the task 1 by one. The issuance of the IKN Law, which was discussed rapidly successful lone 40 days is inactive incapable to pull investors.

Attracting monolithic planetary resources to the improvement of the caller capital, Yusuf said, is intolerable without the region's agelong commercialized history. In addition, the task indispensable grounds a imaginativeness of metropolis excellence and a focused metropolis improvement target, concern and escaped commercialized areas, the beingness of ample proscription hubs, and semipermanent accordant policy.

Yusuf further said that the Penajam Paser Utara Regency, which was chosen arsenic the determination for the new superior city possesses nary charm to pull planetary resources, but for its mining and forestry concern sector. Moreover, the regency has little than 200,000 radical and lone contributes little than 0.1% to the nationalist GDP.


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