IKN Authority Establishes Cooperation With Indonesia Investment Authority Encourages Realization Of Foreign Investments In IKN

The Authority of the Capital City of the Archipelago (photo: dock. special)

The Capital Archipelago (IKN) Authority cooperates with the Indonesia Investment Authority (INA) to improve economic development in Indonesia, especially in the capital city of Nusantara (IKN). The signing of this strategic partnership document was carried out on Sunday, May 19 at the Grand Hyatt Bali Hotel.

Head of the IKN Authority Bambang Susantono conveyed that the strategic partnership, which was inaugurated through the signing of the Cooperation Framework (CF), aims to attract global investment to IKN. With an area of more than 250,000 hectares, the archipelago is planned to become a world-class city for all by 2045.

Bambang assessed that this collaboration utilizes the global network that has been built by INA and a strategic development project from the IKN Authority to encourage investment into IKN.

"The signing of this cooperation framework with INA is a continuation of the President's directive so that INA can facilitate the IKN Authority in realizing foreign investment in IKN," said Bambang Susantono in his official statement, Sunday, May 19.

Bambang said that on the 21st, there would be a Letter to Proceed (LTP) handover from the IKN Authority to Masdar which would be handed over in front of the Coordinating Minister for Maritime Affairs and the Minister of Energy and Infrastructure of the United Arab Emirates (UAE).

According to Bambang, this is a step forward in the realization of foreign investment in IKN through the Government and Business Entity Cooperation (KPBU) scheme.

Bambang also said, by combining the resources and expertise of the two parties, this partnership aims to develop the archipelago, which is about three and a half times larger than Singapore and four times bigger than Jakarta, as a dynamic and sustainable economic center.

Meanwhile, Chairman of the Board of Directors of INA Ridha Wirakusumah stated that INA will actively facilitate the exploration of investment opportunities by leading global investors in the archipelago.

"This partnership with the IKN Authority allows us to direct strategic investment, to develop the archipelago as the capital city of Indonesia that meets world-class standards, and also improve the quality of life of its citizens and make a positive contribution to the Indonesian economy," said Ridha.

For information, the Indonesia Investment Authority is an Indonesian Investment Management Institution which is mandated to increase investment to support sustainable Indonesia's development and build state wealth for future generations.

INA conducts investment activities and collaborates with leading global and domestic investment institutions in sectors that strengthen Indonesia's advantages and provide optimal return with measurable risk.

"Our efforts over the past three years have built a strong relationship with investors around the world, which results in significant commitments and investment distribution," he explained.

Ridha said that until now, INA and investment partners have invested more than US$3.2 billion or approximately Rp50 trillion. This initiative reflects his party's commitment to attracting strategic smart capital and is in line with Indonesia's long-term development goals.