Coalition-Opposition Warn About SoftBank's Resignation From IKN Project

President Jokowi and governors throughout Indonesia at IKN/Photo: Setkab

JAKARTA - The opposition parties and government coalitions are united in regretting the withdrawal of investors from the Nusantara Capital City (IKN) project in East Kalimantan. In fact, the development process is starting.

The investor that was most highlighted was Softbank's departure from the IKN project. Softbank confirmed that the company will not invest in the IKN project. The decision was delivered on Friday, March 11, 2022.

In fact, in January 2020, the Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan claimed that Softbank was interested in injecting fresh funds for IKN development reaching US$ 100 billion.

Both the opposition political parties and the government coalition are cohesive in warning the government that Softbank's "revocation" is not followed by other potential investors. Because it is feared that IKN financing will burden the state budget.

According to the Chairman of the PKS DPP, Mardani Ali Sera, this is a sign that it is not easy to attract investors to Indonesia, especially to invest their money in the IKN Nusantara project.

"This is a sign that it is not easy to find investors who are interested in IKN. Investors are always looking for money from any project," said Mardani to VOI, Sunday, March 13.

The member of Commission II of the DPR PKS fraction hopes that Softbank's move to withdraw from the IKN project will not be followed by other potential investors.

"Hopefully it won't have a snowballing effect. Because we hope that the state budget funds can be carefully maintained," said Mardani.

So, what did the government coalition political parties say in response to this?

The PPP faction of the DPR RI regrets the withdrawal of Softbank as one of the investors in the construction of the National Capital of the Archipelago. The reason is, the involvement of SoftBank is expected to increase international trust in Indonesia, especially the development of IKN.

"With the withdrawal of the Softbank, IKN lost an investment value of US$ 100 billion. The government must immediately move to find additional investors to ensure that IKN development is on schedule and at the same time answer public doubts," said Secretary of the PPP faction of the DPR Achmad Baidowi, Sunday, March 13.

The member of Commission VI of the DPR emphasized that in Law 3/2022 regarding the IKN financing scheme, it comes from the APBN and the private sector which is allowed according to the provisions of the law.

"Don't let the government replace the canceled Softbank investment with the state budget. Although the use of the state budget is allowed, there are still many state affairs that must be borne by the state budget," he said.

Awiek considered this condition to be the first homework for the duo Bambang Susantono and Dhony Rahajoe as heads and representatives of IKN to ensure the sustainability of the IKN project that is investor-friendly and does not burden the state budget.

"The public is waiting for the progress of these two figures," he said.

In line with the new coalition party joining the government. PAN is also concerned about the departure of several investors from the IKN Nusantara project in East Kalimantan, particularly Softbank.

Member of the PAN faction of the DPR RI, Guspardi Gaus, appealed to the government to make comprehensive improvements to the concept of transferring IKN, as it relates to land and legal issues.

"Yesterday there were experts who said that they violated the Constitution, then unfinished land issues, and so on. It means that it is debatable that the most important thing is clean and clear. The name of the investor, he does not want to be harmed," said Guspardi Gaus to VOI, Monday, March 14.

"The investor is how comfortable he is in investing and then legal certainty, if this is still a problem whoever the person is, it's only natural that investors run or leave for it. Because he has a business orientation, if it's not feasible, he will leave," he continued.

The member of Commission II of the DPR hopes that SoftBank's withdrawal will not be a trigger for other investors to cancel their investment in IKN. Therefore, Guspardi asked the government to ensure the security of investment in IKN is not just rhetoric.

"This is something that clearly wants to invest, let alone people who are going (to invest). This will have a big psychological impact on people who were willing to glance at, square off and see. So improvements must be made in various sectors carried out comprehensively, not just rhetoric," said Guspardi.

According to the member of the IKN Special Committee, the issue of Softbank's withdrawal from the IKN project must be a very extraordinary lesson for the government. Do not let this, he said, become a new problem in responding to the wishes of other investors to want to invest in IKN.

"Therefore, we hope that the government will reform various sectors related to IKN. Investors will check and recheck whether it is true that the issues related to IKN problems in various sectors are clean and clear? To get that they are just not asking the government but they will check and recheck. Therefore, improvements in various things need to be done," he explained.

"Because it is not a social institution, they want to make money, how can the return on the investment he made can return within a certain period of time," added Guspardi.

Not to mention, he added, there are legal issues where people are conducting a judicial review to the Supreme Court. Because it is said that the process of ratification of the IKN Law is not in accordance with Law Number 12 of 2011 concerning the Establishment of a Law.

"Secondly, regarding the location, there are HGU, forests, gardens, there are property rights, this land issue is it really clean and clear?" asked Guspardi.

In addition, he said, the person appointed as the head of the authority must also have a qualified and competent track record. According to him, the two people who are trusted to lead and manage IKN must stay away from personal and group interests because they are also observed by investors.

"The head is appreciation, but the representatives? Therefore, we have to make sure that these two figures are professionals, ready to be independent, not concerned with personal or group interests, this is also observed by investors. Therefore, improvements are necessary so that this does not become a trigger for investors. others who want to invest their money in the context of IKN sustainability," said Guspardi Gaus.