Indonesia to expedite construction of new capital
Indonesia will speed up site clearance for the development of the country’s new capital city Nusantara (IKN), said a senior official.
Speaking at a cabinet meeting on Wednesday, Indonesian President Joko Widodo affirmed the need to expedite the provision of land and premises to attract investors to the new capital.
A digital rendering showing the layout of presidential palace compound at the new capital city site in Penajam Paser Utara, East Kalimantan, Indonesia. Photo courtesy of AP.
The land situation in the new capital needs to be resolved immediately because it affects the investment process of domestic and foreign businesses, he said, adding that some businesses have responded to the slow progress on site clearance and project handover at IKN.
According to Public Works and Housing Minister Basuki Hadimuljono, it is necessary for the government to realise land acquisition as soon as possible to quickly form an infrastructure development ecosystem from investment results.
He said that President Widodo has issued two directives related to the provision of land, which emphasised the need to establish a specialised unit to receive feedback and complaints from investors and determine the land status for them. The above-mentioned steps should to be done quickly and legally to support the implementation of the IKN project
- Related News
- Read More
Hanoi plans to start work on metro line 2 next year
Hanoi is set to start the construction of a section of its metro line 2 next year at a cost of VND35.58 trillion ($1.45 billion).
Infrastructure - Tue, December 17, 2024 | 9:15 pm GMT+7
Bamboo Capital highlights role of businesses in advancing Vietnam’s circular economy
Dr. Hoang Trung Thanh, a senior leader of Vietnam's conglomerate Bamboo Capital Group, emphasized the pivotal role of businesses in driving Vietnam’s green economy strategies during his speech at the recent Vietnam Circular Economy Forum 2024.
Bamboo Capital - Tue, December 17, 2024 | 8:15 pm GMT+7
F88 partners with MB to transform over 850 financial stores into bank transaction offices
Military Commercial Joint Stock Bank (MB) and leading consumer finance firm F88 on Monday officially signed a comprehensive cooperation agreement.
Companies - Tue, December 17, 2024 | 8:15 pm GMT+7
Vietnam’s e-commerce boom: a $5.8 bln opportunity by 2028
Vietnam’s business-to-consumer (B2C) e-commerce export value is estimated at VND145.2 trillion ($5.8 billion) by 2028, with micro, small and medium-sized enterprises (MSMEs) projected to contribute 25%.
Southeast Asia - Tue, December 17, 2024 | 7:32 pm GMT+7
Vietnam's retail giants to ensure sufficient supply, steady prices of Lunar New Year holiday goods
Saigon Co.op has stockpiled more than 12,000 tons of essential goods traditionally consumed for the upcoming Lunar New Year (Tet) holiday in late January, or 30-50% higher than normal.
Southeast Asia - Tue, December 17, 2024 | 7:28 pm GMT+7
Indonesia offers tax incentive to hybrid car makers
Indonesia will offer a sales tax incentive on Government-borne Luxury Goods (PPnBM DTP) of 3% for hybrid cars from next year.
Southeast Asia - Tue, December 17, 2024 | 7:21 pm GMT+7
Indonesia ready to establish bullion banks
Indonesia is ready to set up bullion banks after developing its capability to produce gold bars domestically, according to Minister of State-Owned Enterprises (SOEs) Erick Thohir.
Southeast Asia - Tue, December 17, 2024 | 7:19 pm GMT+7
Thailand, South Korea begin third round of Economic Partnership Agreement talks
Thailand and South Korea on Tuesday kicked off the third round of their talks for an Economic Partnership Agreement (EPA) aimed at broadening trade and investment exchanges, according to the latter's Ministry of Trade, Industry and Energy.
Southeast Asia - Tue, December 17, 2024 | 7:16 pm GMT+7
Thailand to spend nearly $9 billion to upgrade railway system
Thai Transport Minister Suriya Jungrungreangkit has announced a plan to accelerate work on the second phase of the country’s railway system upgrade next year.
Southeast Asia - Tue, December 17, 2024 | 7:14 pm GMT+7
Large housing supply to come from Vinhomes in 2025: exec
Leading housing developer Vinhomes will supply the Vietnamese market with "a large volume of goods" in 2025, especially in Hanoi, Hai Phong, Long An and Ho Chi Minh City's Can Gio district, says its director of investment Pham Anh Khoi.
Real Estate - Tue, December 17, 2024 | 5:19 pm GMT+7
Japan’s Sojitz launches $500 mln beef processing plant in Vietnam
Sojitz on Tuesday put its $500 million beef processing plant in the northern province of Vinh Phuc into operation, the Japanese firm said in a release.
Industries - Tue, December 17, 2024 | 5:02 pm GMT+7
US First Solar, Vietnam power firm PECC2 boost renewable energy ties
Vietnam’s Power Engineering Consulting JSC 2 (PECC2) and the United States’ First Solar will collaborate in utilizing the direct power purchase agreement (DPPA) mechanism and distributing the latter’s photovoltaic (PV) modules.
Energy - Tue, December 17, 2024 | 3:35 pm GMT+7
Warburg Pincus-invested IP developer BW starts building 13th project in Vietnam this year
BW Industrial Development JSC, one of Vietnam’s largest industrial and logistics real estate developers, has commenced construction on its BW Phu An Thanh Industrial Hub (PAT) project in Ho Chi Minh City.
Real Estate - Tue, December 17, 2024 | 3:03 pm GMT+7
Italy’s Flying Legend to introduce made-in-Vietnam aircraft
Flying Legend, an Italian manufacturer of replica aircraft, will introduce its made-in-Vietnam aircraft at the Vietnam Defense Expo 2024 from December 19-22 in Hanoi.
Companies - Tue, December 17, 2024 | 1:01 pm GMT+7
Vietnam real estate 2024: a year in review
As positive signals become more evident, now is the time to restart capital flows into real estate transactions in Vietnam and embrace the new growth cycle, write Avison Young Vietnam analysts.
Consulting - Tue, December 17, 2024 | 12:48 pm GMT+7
Vietnam’s GDP growth outpaces regional peers, 6.5% in 2025: Oxford Economics
Vietnam’s GDP growth can reach 6.5% in 2025, continuing to outperform regional peers in the ASEAN-6 group, Oxford Economics said in a Monday report.
Economy - Tue, December 17, 2024 | 10:35 am GMT+7
