A Golden Opportunity for Investors to Contribute in IKN Development

VIVA – The Indonesian President Joko Widodo (Jokowi) has invited Singaporean investors to contribute in the development of the National Capital City (IKN Nusantara). According to him, this is a golden opportunity for investors to be part of the development of a future nature-based smart city.

"This is a very exciting golden opportunity in Indonesia and you can be part of it," President Widodo said in his remarks at Ecosperity Week 2023 held at the Sands Expo and Convention Center, Singapore, on Wednesday.

The President emphasized that the IKN Nusantara is a comfortable place, both for doing business and as a place to live.

Currently, he continued, the development of IKN has begun with the construction of basic infrastructure and the government center which is targeted to be completed next year.

"For the private sector, in the initial stage, we have prepared 300 investment packages with a total value of US$2.6 billion in various fields such as housing, transportation, energy, technology, and other fields," he added.

Furthermore, the President conveyed Indonesian commitment in developing green energy and green industry. This is realized by the construction of nurseries in two different locations in the country as the first step in its development.

"A nursery with a capacity of 16 million seedlings per year in Rumpin and 15 million seedlings per year in Mentawir," the President informed.

In addition, the President believes that Indonesia has a huge potential for new renewable energy, reaching 434 gigawatts from geothermal, wind, solar, biofuel, and hydro.

President Jokowi also mentioned that Indonesia has 4,400 rivers that have great potential, such as the Kayan River in Kalimantan Island which is a source of green energy for the Green Industrial Zone in North Kalimantan.

"This is a great potential to produce green products from the green industry which is currently prioritized in the downstream sector, the solar panel and battery manufacturing industry, as well as the electric vehicle industry," he added.

After delivering his remarks, President Jokowi had the opportunity to review the IKN Nusantara booth that all visitors can see the concept of IKN Nusantara development and investment opportunities.

Also attending the event were Coordinating Minister for Maritime Affairs and Investment; Luhut Binsar Pandjaitan, Minister of State Secretary; Pratikno, Minister of Foreign Affairs; Retno Marsudi, Minister of PPN/Head of BKPM;  Bahlil Lahadalia, Head of BKPM; Bambang Susantono, and Indonesian Ambassador to Singapore; Suryo Pratomo.