Jakarta (ANTARA) - The Nusantara Capital City Authority's Business Entity (BUO IKN) will collaborate with the Indonesia Investment Authority (INA) to attract foreign investment to Nusantara.

"Now, foreign investors start to enter, and, of course, it (the process) is more rigid compared to the locals (domestic investors) as they trust us more," president director of BUO IKN, Boyke Soebroto, informed after meeting President Joko Widodo (Jokowi) here on Monday.

He said that the cooperation between BUO IKN and INA will mark the beginning of Nusantara's development through the absorption of foreign investment after various domestic investments have been realized.

"Mr. President said that there are some stages for foreigners. They would ask: Where are the local (investors)?" he added.

He explained that the government let domestic investors participate in Nusantara's development first to show foreign investors that investments are flowing into the region.

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Soebroto said that the collaboration between BUO IKN and INA has been encouraged by the President considering that INA is more experienced in establishing foreign investor cooperation, especially with companies from the Middle East.

BUO-IKN and INA will prepare a number of concepts to increase the confidence of foreign investors to invest in Nusantara.

"We and INA must make the format and packages to make foreigners believe in the format," he said.

He added that the sectors that are targeted to be majorly funded by foreign investors are energy, transportation, and telecommunications.

To realize this, he said, BUO IKN and INA will conduct a discussion on a business-to-business (B-to-B) scheme with foreign investors to decide on the format for cooperation.

Furthermore, the format will be used as a cooperation platform with potential foreign investors in the future. (INE)

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Translator: Andi F, Kenzu
Editor: Aditya Eko Sigit Wicaksono
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