Jakarta (ANTARA) - Indonesian President Joko Widodo (Jokowi) on Thursday welcomed the interest of Singaporean investors in investing in the development of Indonesia's new capital (IKN), Nusantara.

He conveyed this during a joint press conference with Singaporean Prime Minister (PM) Lee Hsien Loong after the “2023 Indonesia-Singapore Leaders’ Retreat” in Singapore.

"I appreciate the result of this leaders’ retreat, including the huge interest of Singaporean investors to invest in IKN Nusantara," he said at a press conference that was broadcast live on the official YouTube channel of the Presidential Secretariat.

During the leaders’ retreat, 20 Singaporean private companies submitted letters of intent (LoIs) for investing in IKN Nusantara, he informed.

Meanwhile, PM Loong said that IKN Nusantara would serve as a pilot project for a memorandum of understanding (MoU) on urban and sustainable housing development inked by the two countries.

"We signed an MoU for the development of urban and sustainable housing, which will accommodate cooperation in building, financing, and innovation of smart and sustainable infrastructure. The IKN Nusantara development will become a pilot project," he added.

He then lauded President Widodo’s vision of a green and smart IKN Nusantara.

"Singapore is happy to support President Jokowi's vision. We will contribute through knowledge-sharing activities, research activities, and joint development," PM Loong said.

One of the MoUs signed by Singapore and Indonesia during the leaders’ retreat covered collaboration in knowledge sharing, capacity building, research to support planning, and the development of IKN Nusantara as a smart and sustainable city.

PM Loong confirmed that some Singaporean private companies have expressed an interest in development projects in IKN Nusantara.

Therefore, he told President Widodo that his administration appreciates the organization of an investor forum on IKN Nusantara, which Indonesia plans to hold in May 2023.

"We will encourage Singaporean entrepreneurs to participate in it," he affirmed.

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Translator: Gilang Galiartha, Resinta S
Editor: Rahmad Nasution
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