Indonesia firm launches tourism complex with Trump operating hotel, golf course

JAKARTA: Indonesian property firm PT MNC Land launched on Friday (Mar 31) a 1,040 ha tourism complex on Java island, where former US President Donald Trump’s company will operate a hotel and a golf course.

Indonesian President Joko Widodo also inaugurated a special economic zone within MNC’s tourism project, which is called Lido City and located around 60km (37 miles) south of the capital Jakarta in the Bogor area.

MNC Land said the special economic zone status means investors or developers can benefit from corporate and luxury goods sales tax cuts and some leniency on permits, adding benefits included an 80-year building rights title and foreign ownership.

It was not clear whether the Trump Organization would also benefit from tax breaks, which include a tax holiday for corporate tax for 10 to 20 years based on the investment value.

During his presidency, Trump had kept ownership of his global business empire, but handed off control to his two oldest sons through a trust while in office, an arrangement watchdogs said at the time did not go far enough to prevent conflicts of interest in the White House.

Trump was this week indicted by a Manhattan grand jury after a probe into hush money paid to porn star Stormy Daniels, becoming the first former US president to face criminal charges even as he makes another run for the White House. He has denied any wrongdoing.