"There are five (investors) that have delivered LoI out of 15 Kazakhstani investors that have explored investment potentials in Nusantara City," OIKN's director for investment and ease of business, Lazuardi Nasution, stated here on Monday.
Among sectors that Kazakhstani investors have indicated their interest in investing in are construction, transportation, information technology, artificial intelligence, and smart cities, he noted.
Moreover, the director pointed out that a Kazakhstani construction company, BI Group, has inked a memorandum of understanding (MoU) with the capital authority. However, he did not reveal the investment value committed by the Kazakhstani side.
Nasution emphasized that international investors have huge opportunities to be involved in the new capital development, and OIKN is committed to providing incentives and ensuring ease of business for them.
"Investment climate in the new capital is designed to be competitive and open," he stressed.
Meanwhile, Indonesian Ambassador to Kazakhstan and Tajikistan Fadjroel Rachman stated that investment will be part of the economic diplomacy strategy to support the new capital development.
"Cooperation will be a concrete step in encouraging investments in Nusantara City," he remarked.
When outlining the 2026 Draft State Budget and Financial Notes on August 15, Finance Minister Sri Mulyani Indrawati said the government plans to allocate around Rp6.3 trillion (US$385 million) to Nusantara next year, higher than the Rp4.7 trillion projected to be spent this year.
However, it should be noted that under former president Joko Widodo, Indonesia allocated Rp75.8 trillion (US$4.6 billion) for Nusantara’s 2022–2024 development, with Rp43.3 trillion realized by 2024.
Meanwhile, President Prabowo in January 2025 earmarked Rp48.8 trillion (around US$3 billion) for the project’s continuation through 2029.
Despite the apparent slowdown, the government remains committed to advancing the capital relocation plan to the city, which is being developed in East Kalimantan.
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Translator: Nyaman Bagus P, Nabil Ihsan
Editor: Azis Kurmala
Copyright © ANTARA 2025
