According to Wicaksono, domestic investors are the priority in the first stages of Nusantara's development. They are expected to convince potential foreign investors to put their money in the capital city development.
"Prospective foreign investors will see the Nusantara City project continue to run and have proven results," he remarked.
He explained that domestic investors understand the situation better and already have large funds to start projects in Nusantara.
The first phase of construction of Nusantara City must also be carried out quickly to pursue the target of holding the first Independence Day ceremony there on August 17, 2024.
The OIKN stated that at the end of 2023, it had received 328 Letters of Intent from potential investors. Meanwhile, around 55 percent of domestic investors are focusing on developing the national axis sector of Nusantara City.
Related news: Brunei investor eyes investment in renewable energy project at IKN
The development of Indonesia's future focuses on its green area, the national axis ecosystem, and state agency buildings, with funding not sourced from the State Budget (non-APBN).
The development of Nusantara City as a smart city also attracts foreign investors from Singapore, Japan, Malaysia, China, South Korea, and the United States.
While some potential foreign investors have submitted their Letters of Intent, OIKN has not been able to mention the value of investment, as it is only in the stage of providing the initial commitment document for cooperation.
Meanwhile, South Korea is expected to help build the smart city concept in Nusantara.
Japan, China, and Singapore have long been Indonesia’s investment partners, and Malaysia geographically occupies the same island as Nusantara City, so it has some interests, Wicaksono stated.
Related news: Ministry invites Japanese investors to take part in IKN development
Translator: Nyaman P, Kenzu
Editor: Yuni Arisandy Sinaga
Copyright © ANTARA 2024
