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Jakarta Post

Regulatory breakthrough key to develop new capital city

  • The Jakarta Post

Jakarta   /   Mon, September 23 2019   /  02:14 am

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 which if such regulat...