President Says IKN Development Develops Every Month

President Joko Widodo during a speech on the Tropical Forest Forestration agenda in East Kalimantan, Wednesday (20/12/2023). ANTARA/HO-Otorita IKN.

JAKARTA - President Joko Widodo (Jokowi) said the progress of the development of the capital city of Nusantara (IKN) in East Kalimantan Province continues to progress every month.

"The most important thing is progress, there are developments every month. Like earlier, the Nusantara Hotel has finished 35 percent, good. I asked before August is over? Done," said President Jokowi while reviewing Tropical Forest Forestration in East Kalimantan, reported by ANTARA, Wednesday, December 20.

Jokowi said that in January 2024 it is targeted that there will be more than ten groundbreaking agendas for IKN development.

However, Jokowi has not detailed in more detail the IKN development project which will be rolled out at the beginning of next year.

"Later January we will come here again. But what is clear is that more and more investors have come, local investors, national investors and some have partnered with foreigners, I think it's very good," he said.

Jokowi also said that there were already several foreign investors who expressed their interest in investing in IKN, but Jokowi did not want to talk before the project rolled out at IKN.

"Some have been Letter of Intent, some are about to start, but I'm not going to say if it hasn't really started, I haven't laid the first stone yet I won't talk," he said when asked about Japan's interest in investing in IKN.

President Joko Widodo previously emphasized the government's commitment to the sustainability of the development of the Capital City of the Archipelago (IKN). The President emphasized that the IKN development has been mandated in law and approved by 93 percent of factions in the DPR.

The President said that currently the government has and continues to carry out its duties to prepare a number of basic infrastructures in IKN, ranging from the construction of palaces as well as the offices of the president and vice president, ministries/agencies, water, to electricity.

Various reviews and inauguration of groundbreaking for infrastructure development at IKN have also been carried out several times directly by President Joko Widodo, which shows the commitment of the Indonesian government in the development of IKN.

The government estimates that infrastructure development in IKN requires a budget of IDR 466 trillion.

According to the President, the budget is around 20 percent financed by the APBN, while another 80 percent is given to the business world or private sector through a public private partnership (PPP) scheme or cooperation between the government and business entities (KPBU). The President also opened the door for foreign investors who want to invest in IKN.