Indonesian Govt Boosts Foreign Investor Interest in IKN

As of now, there have been 331 letters of interest or letters of intent (LOI) for investments in IKN, with 55% from domestic investors and 45% from foreign investors.

Yanita Petriella

16 Jan 2024 - 18.49
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Indonesian Govt Boosts Foreign Investor Interest in IKN

President Joko Widodo inspects the progress of the construction of the Presidential Palace in Ibu Kota Nusantara (IKN), North Penajam Paser Regency, East Kalimantan Province. /Setpres

Bisnis, JAKARTA – The government's efforts to encourage foreign investors to participate in investing in the Nusantara Capital City (IKN) persist. However, as of mid-January 2024, there has been no realization of investment commitments from foreign investors in IKN.

The development of IKN is anticipated to heavily depend on funds from investors, with 80% of the financing coming from the private sector and the remaining 20% utilizing the State Budget (APBN).

Rusmin Lawin, an expert advisor at the IKN Authority (OIKN), revealed that there have been 331 letters of intent (LOI) at IKN. Among these, 55% are from domestic investors and 45% foreign investors.

"There are 331 LoIs entered, this includes Brunei where they have 7 companies but 1 LoI," he mentioned in a statement to Bisnis on Monday (15/1/2024).

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Indonesian Govt Boosts Foreign Investor Interest in IKN

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