REPUBLIKA.CO.ID, JAKARTA -- Indonesia President Joko Widodo (Jokowi) said the government would prioritize domestic investors to build Ibu Kota Negara (IKN) amid 300 letter of intent (LoI) of foreign investors.
"At all countries, we openly elaborated the progress of IKN's development and offer projects to invest. Many investors were interested and 300 LoI has signed," Jokowi said in Halim Perdana Kusuma Air Force Base in Jakarta, Monday (Nov 20, 2023).
Although those LoIs were just intentions, Jokowi predicts the appetite of the investors to invest in IKN will grow along the time. "The real (foreign) investment is not there yet. But among those LoIs, how cannot we got even one?" Jokowi said.
He continues, until now, the Government prioritize domestic investors to build up IKN.
On a different occasion, the Secretary of IKN Authority (OIKN) Achmad Jaka Santos Adiwijaya in Jakarta, Tuesday (Nov.14, 2023), said the Authority already accepted 300 LoIs which 103 among the were LoIs on housing sector and 71 LoIs are on commercial sector. There were also 63 LoIs on education infracture and the rest are on transportation and health facilities.
Capital city displacement was accomodated on Law No.3/2022 (Undang-Undang Nomor 3 Tahun 2022 tentang Ibu Kota Negara). It was estimated would cost 33 billion USD to build the new capital city in east Borneo called Nusantara. The Government will move to Nusantara gradually by 2024.
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