Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Businesspeople need regulatory certainty, simplicity to invest in new capital city

  • News Desk

    The Jakarta Post

Jakarta   /   Mon, September 23, 2019   /  09:00 am
The Jakarta Post Image
Aerial view of Balikpapan-Samarinda toll road which will be one of the access gates into Indonesia's new capital city located in North Penajam Paser and Kutai Kartanegara, East Kalimantan.(JP/Akbar Nugroho Gumay)

Businesspeople require regulatory certainty and simplicity in order to invest in the development of the new capital city, even more so than financial incentives, experts have said. Pricewaterhouse Coopers (PwC) infrastructure finance adviser Julian Smith told The Jakarta Post that the government needed to get rid of regulatory complexity and time-consuming ministry coordination on "first-of-a-kind" projects that often resulted in infrastructure project delays. The authority for new capital city needs to have the power to make regulations that override the regulations of individual ministries, said Smith in a phone interview, referring to waste-to-energy projects as an example of time-consuming coordination as businesses have to comply with waste, power and public-private partnership regulations. Smith said the capital city area could be seen as a regulatory sandbox, in...