The investment ecosystem of Indonesia’s future capital, Nusantara, is taking shape with foreign investors showing growing interest, according to the Minister of Investment
THE Minister of Investment and Head of the Investment Coordinating Board (BKPM), Mr. Rosan Roeslani, announced that the ecosystem of the new Indonesian capital, Ibu Kota Nusantara (IKN), located in East Kalimantan, has begun to take shape. Speaking at the 2024 Investment Service Awards event in Jakarta, Monday, September 30th, 2024, Mr. Rosan shared that foreign investors had started entering the market over the past two weeks.
“The IKN ecosystem has started to form, and we are confident that this momentum will continue. The Ministry of Investment is very pleased, as foreign investors have begun making significant moves,” Mr. Rosan said. The Ministry is committed to actively attracting sustainable and impactful investments for the development of the new capital.
Rosan revealed that five foreign companies had committed to investing in Nusantara, contributing a total of USD 165 million (Rp2.51 trillion). One of the key investors is Singapore-based Sembcorp Utilities Pte Ltd, which has invested USD 65 million (Rp987.35 billion) in a 50-megawatt solar panel project. Additionally, Singapore’s Raffles Education Limited expressed interest in investing in the education sector.
According to Mr. Rosan, the influx of foreign investments signals that private sector and state-owned enterprises (BUMN) can collaborate effectively. He emphasised that the vast potential for economic growth in Indonesia requires substantial investment, making cooperation between the public and private sectors essential.
Source: Antaranews
