Singaporean Investors Show Interest in IKN Development

President Jokowi delivers a joint press statement with the Prime Minister of Singapore Lee Hsien Loong, in Singapore, Thursday (03/16). (Photo by: BPMI of Presidential Secretariat/Laily Rachev)

During the annual Indonesia-Singapore retreat, President Joko “Jokowi” Widodo welcomed the interest shown by Singaporean investors to participate in the development of the Nusantara Capital (IKN).

“I greatly appreciate the results of Singapore-Indonesia Leaders’ Retreat. First, Singaporean investors showed high interest in the development of the Nusantara Capital,” the President said.

According to the President, a total of 20 Singaporean private companies have submitted letters of intent (LoI) to invest in the IKN.

On that occasion, the Prime Minister of Singapore Lee Hsien Loong expressed support for the IKN development and President Jokowi’s vision to realize the IKN as a smart city and a green city.

“Singapore is happy to support the President’s vision. We will contribute towards knowledge sharing and joint R&D [research and development] activities,” he said.

PM Lee also highlighted that one of the memorandum of understanding (MoU) covers collaboration on knowledge sharing, capacity building, and research to support the planning and the IKN development as a smart and sustainable city.

In addition, PM Lee conveyed that his party will encourage Singaporean entrepreneurs to attend the IKN investor forum which will be held in May.

“I told President Jokowi, we look forward to the forum which he is planning in May for investors to show them what Nusantara offers and to interest them in the project. We will encourage Singaporean entrepreneurs and companies to participate in this,” he said. (MAY/RF/UN) (RIF/MMB)