IKN Authority Expands Scope of Investment Facilities for IKN Business Actors

In 2023, as a part of efforts to establish the Capital City of Nusantara (Ibu Kota Nusantara – “IKN”) as a sustainable global city and a future driver of the Indonesian economy, the government issued Regulation No. 12 of 2023 on the Issuance of Business Licenses, Ease of Doing Business and Investment Facilities for Business Actors Within the Capital City of Nusantara (“Regulation 12/2023”), which has been in force since 6 March 2023.[1] In essence, Regulation 12/2023 addresses the issuance of business licenses, ease of doing business and the various investment facilities and incentives that are available to business actors who engage in business activities within IKN and certain regions of Kalimantan that are categorized as part of the IKN economic superhub (“Partner Regions”).[2]