As the developer and manager of the Mandalika Special Economic Zone (SEZ), InJourney Tourism Development Corporation (ITDC) is inviting investors to participate in accelerating the area's development. “For investments, we invite all parties, both from Indonesia and abroad. We have been promoting this without limiting to foreign or local investors,” stated ITDC’s Director of Operations, Troy Reza Warokka, on Tuesday (May 14). ITDC actively seeks local and international investors to contribute to the development of the Mandalika Tourism SEZ. Demonstrating this commitment, ITDC signed investment agreements with four investors late last year. These investments involve the development of various facilities, including a horse racing track, Wibit water sports, a circuit café, the Mandalika circuit experience, and the Mandalika racing experience, as well as accommodation.
However, ITDC remains selective about the investors who wish to invest in the Mandalika SEZ. The presence of investors is a critical step in the government's effort to expedite the development of The Mandalika. Spanning 1,175 hectares, The Mandalika boasts significant development potential with its beautiful landscape featuring hills, a sea with a 16-kilometer stretch of white sandy beach, and comprehensive facilities within the area. Given these abundant potentials, ITDC emphasizes that the desired investors must have adequate capability and capacity, a clean legal record, and relevant experience. "Investors in Mandalika need to be carefully monitored, ensuring that they cannot enter without thorough review and meaningful mechanisms," Troy added. While he couldn't specify the total investment in ITDC to date due to ongoing changes, the importance of strategic investment was clear. For investment purposes, Acting Governor of West Nusa Tenggara (NTB), Lalu Gita Ariadi, noted that there are several key issues to address, including the need for the NTB Provincial Government to draft a regional regulation on tax and retribution relief. "How this will be structured is crucial. There may be relief, but with certain limitations, it cannot be entirely unrestricted,” he remarked. Since hotel and restaurant taxes outside the Mandalika SEZ remain in effect, regulations within the zone must balance business interests and fairness. "Hotel and restaurant taxes are important sources of local revenue for both the district and province, and we will regulate this with the best possible mechanism," Gita concluded.
