President Jokowi Appreciates Domestic Investors’ Quick Action to Invest in New Capital

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 1 November 2023
Category: News
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President Joko Widodo lays the first foundation stone for Pakuwon Nusantara in the Nusantara Capital City area, East Kalimantan Province (11/01). (Photo: Presidential Secretariat’s Information, Media, and Press Bureau)

President Joko “Jokowi” Widodo has expressed appreciation for the quick action of a number of domestic investors to invest and start the development in Indonesia’s new capital of Nusantara (IKN).

The President made the statement during the groundbreaking ceremony of Pakuwon Nusantara (a superblock) in the IKN area in East Kalimantan Province, on Wednesday, November 1, 2023.

“I am pleased that PT Pakuwon (a private construction company) has taken the lead in building the IKN and I really appreciate it, and we hope that this will pave the way for other moves as well,” said the President.

According to the President, the Government always prioritizes and gives preference to local investors in investing in IKN.

However, he added, if local investors show no interest, the Government will look for investors from abroad who show great interest in investing in IKN.

The President detailed that at least 130 investors from Singapore had come to see IKN in person several months ago, while investors from South Korea, Japan, Malaysia and the United Arab Emirates had also come to IKN.

“But we decide to put a hold for this moment. I have ordered Head of the IKN Authority to restrain investors from abroad and give them a chance. If possible, also join them with domestic investors so that the zones that we have planned will all be filled,” he added.

The Head of State also expressed belief that investors will flock to IKN, especially if the toll road and airport infrastructure has been completed.

The President had previously inspected the progress of the IKN Toll Road construction whose completion is already 55 percent and carried out the groundbreaking of the IKN airport.

The President set a target that both can be used by June 2024.

“I’m sure that if everyone makes a move and takes action and the airport is completed, investors will come in droves to the IKN,” he said.

Also joining the President in the inspection were Acting Coordinating Minister for Maritime Affairs and Investment Erick Thohir, Minister of State Secretariat Pratikno, Minister of Public Works and Public Housing Basuki Hadimuljono, Head of the IKN Authority Bambang Susantono, Acting Governor of East Kalimantan Akmal Malik, and Acting North Penajam Paser Regent Makmur Marbun. (Presidential Secretariat’s Information, Media, and Press Bureau/DNS) (TM/EP)

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