Samarinda, The Gulf Observer: President Joko Widodo (Jokowi) is prioritizing domestic investors in the development of the new national capital Nusantara, the Nusantara Capital Authority (OIKN) informed here on Saturday.
A statement released by OIKN’s communication team said that the government is consistently prioritizing national investors in the new capital city’s development.
So far, at least 130 investors from Singapore as well as other investors from countries ranging from South Korea, Japan, and Malaysia to the United Arab Emirates (UAE) have visited the development site and expressed interest in investing in the project.
“But, I told the head of OIKN to press the ‘brake’ for foreign investors and give the opportunities to (domestic investors), so the zones (of development) can be all filled,” the President said, according to the release.
On Wednesday (November 1, 2023), President Widodo led the groundbreaking ceremony of a superblock project called Pakuwon Nusantara on Nusantara’s mixed-use land, together with the OIKN and PT Pakuwon Jati’s subsidiary PT Pakuwon Nusantara Abadi (PNA).
The groundbreaking was carried out in Nusantara’s Central Government Core Area (KIPP), with the investment value of the project pegged at Rp5 trillion (US$320 million).
The groundbreaking for Pakuwon Nusantara was among several conducted on November 1–2, with the total investment in the projects valued at Rp12 trillion (US$769 million).
“I really appreciate this and we hope this will trigger another wave of national investors,” President Widodo said.
Meanwhile, OIKN head Bambang Susantono said that the Pakuwon Nusantara groundbreaking demonstrated the tremendous interest of investors in the construction of Nusantara.
So far, more than 300 letters of intent (LoIs) have been received expressing interest in helping build Nusantara, he noted and said he considered this extraordinary.
“Same with the Mr. President’s directive that the private sector will join in (investing in Nusantara), and we see the results now, the private sector has started to enter,” Susantono added.