Heaptalk, Jakarta—Nusantara Capital Authority (NCA) established a strategic partnership with the Indonesia Investment Authority (INA) to boost economic development in Nusantara Capital (IKN).
The collaboration aims to draw foreign investment to scale up economic development in IKN. With an area of more than 250,000 hectares, Nusantara Capital is designed to become a world-class city for all by 2045. The NCA’s Deputy of Funding and Investment, Agung Wicaksono, and a Member of the Indonesia Investment Authority’s board of directors, Arief Budiman, attended the signing of the Cooperation Framework in Bali (05/19).
Chairman of the NCA Bambang Susantono welcomed the collaboration with INA on this matter. This collaboration will utilize the global network built by INA and strategic development projects from the NCA to encourage investment in Nusantara. “The signing of this cooperation framework with INA is a continuation of the President’s direction so that INA can facilitate the NCA in realizing foreign investment in Nusantara,” said Bambang in a written statement.
On the 21st of May, Nusantara Capital Authority handed over a letter to proceed (LTP) to Masdar, witnessed by the Coordinating Minister for Maritime and Investment Affairs and the Minister of Energy and Infrastructure of the United Arab Emirates (UAE). This step exhibits the efforts to realize foreign investment in Nusantara Capital through the Public-Private Partnership scheme.
Nusantara as a sustainable economic center
Bambang further said that this partnership aims to develop the new capital, which has an area about three and a half times larger than Singapore and four times larger than Jakarta, as a dynamic and sustainable economic center by combining the resources and expertise of both parties.
Meanwhile, Chair of the INA Board of Directors Ridha Wirakusumah stated that INA will actively facilitate the exploration of investment opportunities by leading global investors in IKN. “This partnership with the Nusantara Capital Authority allows us to direct investment strategically, to develop the Nusantara as the capital city of Indonesia that meets world-class standards, and also improves the quality of life of its citizens and makes a positive contribution to the Indonesian economy,” Ridha said.
This agenda was followed with a meeting to discuss the follow-up to the realization of foreign investment in Nusantara, which was attended by the Deputy for Infrastructure and Transportation, Coordinating Ministry for Maritime and Investment Affairs, Special Staff for Knowledge Management of the Nusantara Capital Authority, Director of the Indonesia Investment Promotion Center (IIPC) Abu Dhabi, and Country Director of the Tony Blair Institute for Global Change Indonesia.
