Heaptalk, Jakarta — President Joko Widodo (Jokowi) stated that the construction of the Nusantara Capital (IKN) had reached 15% completion as of Tuesday (16/07).
A major project similar to Nusantara Capital is not built in 2-3 years. This is a long-term project with a timeline of 15-20 years. “On August 17, the independence ceremony is planned to be held at the new State Palace. But don’t imagine that IKN will be fully completed,” Jokowi said.
Currently, Nusantara Capital still requires investment. The State Budget is only used to construct the core government area. He stated, “(The construction) might take 15-20 years. It still requires investment, and it still needs investors from both domestic and international sources.”
The former Mayor of Solo explained that the government is actively seeking investment interest from domestic and international investors. For this reason, he visited the United Arab Emirates to discuss Nusantara Capital. During his visit, Jokowi claimed that a memorandum of understanding would be signed by both countries.
Furthermore, Jokowi mentioned that economic and investment relations between Indonesia and the UAE have increased significantly over the past ten years. The UAE is one of Indonesia’s main and strategic partners in the Middle East. The UAE is the first Middle Eastern country to have a Comprehensive Economic Partnership Agreement (CEPA) with Indonesia.
