In line with the ongoing development in Indonesia’s new capital, Ibu Kota Nusantara, commonly referred to as IKN, the government has enacted Government Regulation No. 12 of 2023 concerning the Provision of Business Licenses, Ease of Doing Business, and Investment Facilities for Investors in Ibu Kota Nusantara (“Regulation“) in March of this year. Among others, the Regulation introduces conveniences and facilities for investors to encourage them to invest in IKN and its partner regions, which are specific areas in Kalimantan established for the development and growth of IKN’s economic superhub in collaboration with the IKN authority.
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