The Chargé d'Affaires of Kuwait Pray for the Smooth Construction Of IKN Nusantara

The power of business for the Kuwaiti Embassy for Indonesia Abdullah Yateem Al-Fadhli (left) at the Kuwaiti Embassy in Jakarta, Wednesday (15/2/2023). (ANTARA/Nabil Ihsan).

JAKARTA - The Chargé d'Affaires of the Kuwait Embassy for Indonesia Abdullah Yateem Al-Fadhli expressed his hope that the development of the Nusantara State Capital Authority (IKN) in East Kalimantan can proceed smoothly.

He emphasized that each country has the right to determine its own policies that are considered beneficial to the interests of the country, including building a new capital city like what Indonesia has done.

"Each country has the right to build a new capital city, or other new cities, according to what each country wants," he said at a press conference at the Kuwait Embassy in Jakarta reported by ANTARA, Wednesday, February 15.

Abdullah said he wished for the success and smooth construction of the new capital city, which he called a big project for Indonesia.

Apart from that, Abdullah stressed the importance of promoting Indonesia regarding investment in the new capital which was addressed to foreign embassies in Indonesia or through Indonesian Embassies in friendly countries.

Promotion and information to friendly countries regarding incentives, tax exemptions, or other matters related to foreign investment in the Nusantara State Capital Authority (IKN) will make it easier for friendly countries to make decisions to participate in investing in the project, he said.

Abdullah said he was aware of the Indonesian government's target to inaugurate the Nusantara State Capital Authority (IKN) on August 17, 2024, coinciding with the 79th Anniversary of the Republic of Indonesia.

Previously, the Head of the Nusantara State Capital Authority (IKN), Bambang Susantono, said as many as 90 domestic and foreign investors had expressed their seriousness to invest in the new capital city.

At a hearing with Commission XI of the DPR RI, last Monday, February 6, Bambang said that the financing for building the IKN was still with a scheme of 20 per cent from the state budget and 80 per cent using investment from investors.