Indonesia offers tailormade tax breaks, carbon offset to win investors

Stacks of containers are seen at the port in Tanjung Priok in Jakarta, on March 31, 2021. - AFP

JAKARTA, May 1 (Bloomberg): Indonesia is offering made-to-measure incentives and, potentially, carbon offsets as it competes for investment.

Earlier incentives were standardised in rules that were criticized as outdated, overlapping or even contradictory. With reforms now in full swing after the passage of an omnibus law late last year, the government can tailor benefits to companies looking to set up shop in Indonesia -- provided they make a "very huge” outlay that will significantly develop local industry, said Nurul Ichwan, investment planning deputy at the Investment Coordinating Board.