Jakarta (ANTARA) - President Joko Widodo (Jokowi) will officiate the groundbreaking of banking and education facilities at the new capital city (IKN) Nusantara in East Kalimantan in the next 2-3 weeks, IKN Authority (OIKN) head, Bambang Susanto, stated.

"In the next 2-3 weeks, President Jokowi will officiate the fifth groundbreaking at IKN," he remarked during an online seminar titled "The Future of Jakarta Post IKN" on Saturday.

He noted that the banking and education sectors will open their business at IKN, including the branch of the Jakarta Intercultural School, namely the Nusantara Intercultural School.

According to Jokowi, the total public and private investment entering IKN until January 2024 amounted to Rp47.5 trillion (US$3 billion). Meanwhile, investment of around Rp35.9 trillion originates from the private sector that has already conducted the groundbreaking and is in the construction development phase.

Susantono noted that several private investors and State-Owned Enterprises (SOEs) have also started building five-star hotels and warehousing and logistics areas called the Nusantara Warehouse and the Nusantara Logistic Hub.

He remarked that this investment could be a stimulant to boost market confidence in the government's plans.

"This investment will trigger other private companies to invest in IKN in various sectors," he stated.

In 2024, his side is targeting Rp100 trillion of investment from the public and private sectors. This public investment can come from SOEs and non-governmental organizations.

Meanwhile, the Ministry of Public Works and Public Housing (PUPR), through the IKN Infrastructure Development Task Force, stated that construction of the State Palace in IKN had reached 55 percent as of February 8, 2024.

The ministry ensures that construction of the State Palace, the State Palace square, palace area, and President's Office remains on target and is expected to be completed and can be used for holding the Indonesian Independence Day ceremony in August 17, 2024, at IKN.

The celebration of Indonesia's Independence Day this year at IKN, East Kalimantan, will become the starting point for the gradual transfer of the country's capital from Jakarta to IKN.

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Translator: Maria Cicilia G P, Resinta Sulistiyandari
Editor: Azis Kurmala
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