MNC Lido City is an integrated residential, commercial, tourist destination, and resort area of 3,000 hectares in Lido, Bogor, West Java. JAKARTA: Indonesian tycoon Hary Tanoesoedibjo, a business partner of former US president Donald Trump, launched on Monday construction on a movie studio as part of a tourism complex on Java island that is set to receive tax breaks.
"For around 1,000 hectares in Bogor Regency, a special economic zone permit has been obtained," MNC Group executive chairman Tanoesoedibjo said in a text message, adding the movie studios will be wholly controlled by his company. Indonesia's National Council for Special Economic Zones, which recommended President Joko Widodo approve the status, projected Lido City could attract US$2.4 billion in investment and 3.17 million tourists per year through 2038.Businesses investing 1 trillion rupiah or more in special economic zones are eligible for tax holidays of up to 20 years that could be extended for two more years with a 50 per cent tax cut.
In a 2019 visit to Indonesia, Donald Trump Jr dismissed any risk of conflict of interest in the Southeast Asian country and said the projects were among the last the Trump Organization signed up before his father became president.
Hmmm........... Why activity in SEA.......?