president of Indonesia Inviting Singaporean Entrepreneurs to Invest in New Indonesian Capital City

Baca Gitu Loh - Singapore - President Joko Widodo invited Singaporean investors to invest in the development of the New Indonesian Capital City (IKN).

According to the President, this is a golden opportunity for investors to take part in city development with the concept of a nature-based future smart city.

“I suggest you not to wait too long. This is a very interesting golden opportunity in Indonesia and you can be a part of it," said President Jokowi in his speech at Ecosperity Week 2023 which was held at the Sands Expo and Convention Center, Singapore, on Wednesday, 7 June 2023.

The President emphasized that the Archipelago is a comfortable place, both for doing business and as a place to live.

At present, he continued, the development of IKN has started with the construction of basic infrastructure and government centers which are targeted to be completed next year.

"For the private sector, in the early stages, we have prepared 300 investment packages with a total value of USD 2.6 billion in various fields such as housing, transportation, energy, technology and other fields," he continued.

Furthermore, the President stated Indonesia's commitment to the development of green energy and green industry.

This is realized by the construction of nurseries in two different locations in the country as the first step in the development of the Archipelago.

"The nursery with a capacity of 16 million seedlings per year is in Rumpin and 15 million seedlings per year in Mentawir," said the President.

In addition, the President believes that Indonesia has great potential in renewable energy reaching 434 gigawatts from geothermal, wind, solar, biofuels and hydro.

The President said that Indonesia has 4,400 rivers with great potential, such as the Kayan River on Kalimantan Island which is a source of green energy for the Green Industrial Zone in North Kalimantan.

"This has great potential to produce green products from a green industry which is currently a priority in the downstream sector, the solar panel and battery manufacturing industry, as well as the electric vehicle industry," he added.

After delivering his speech, President Jokowi had the opportunity to visit the Nusantara Capital booth. At the booth, event visitors could see the concept of the IKN development and existing investment opportunities.

Accompanying the President in this activity were the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Minister for State Secretary Pratikno, Minister for Foreign Affairs Retno Marsudi, Minister for Investment/Head of BKPM Bahlil Lahadalia, Head of the IKN Authority Bambang Susantono, and Ambassador of the Republic of Indonesia to Singapore Suryo Pratomo. ***