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Kamis, 01 Juni 2023

Facilitating Singapore Investors, Ministry of Investment Guarantees Ease of Investment in IKN

Balikpapan, June 1st, 2023– Proactively increase the promotion of the development of Indonesia’s New Capital Nusantara (IKN), the Ministry of Investment/Investment Coordinating Board (BKPM) facilitates Singapore Business Visit to Nusantara Capital for three days from May 30th - June 1st, 2023. This activity was attended by 95 delegates consisting of 69 companies from Singapore.


The Coordinating Minister (Menko) for Maritime Affairs and Investment Luhut Binsar Pandjaitan warmly welcomed investors at the IKN Zero Point yesterday afternoon (31/5). Not only welcoming, but Coordinating Minister Luhut also accompanied investors around and showed the progress of the IKN development.


"The IKN area has ​​more than 50,000 hectares and there are 9 zones wide open for investors who want to work together to support Indonesia’s development. We hope this visit will be a good start to work closely in achieving mutually beneficial goals," said Luhut.


Continuing with what was conveyed by Minister Luhut, Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono appreciated the Singapore delegation for the business visit and he also presented information on the development of IKN to stakeholders, in this case investors, to explore new opportunities in IKN. As the responsible party for the construction of the IKN, Minister Basuki also accompanied the Singapore delegation to see directly various locations in the IKN such as the Zero Point of the Nusantara, the Sumbu Kebangsaaan Barat, Construction Worker Housing, and Sepaku Semoi Dam.


"Currently, the development process at IKN has reached 29.45%. We not only build designs based on elements of beauty but on correct engineering calculations and do not rule out aesthetics. Apart from buildings, our current focus is the construction of toll roads to facilitate access to IKN," explained Basuki.


In his remarks at the networking dinner, Deputy Minister for Investment Climate Development of the Ministry of Investment/BKPM Yuliot revealed that the Ministry of Investment/BKPM always provides the best service to investors through regulatory reform, accelerating the licensing process, formulating incentives, and providing end-to-end service for investors.


"The province of East Kalimantan is ranked 13th as an investment destination for Singaporean investors, contributing USD 1.08 billion or 2% of Singapore's investment over the last 5 years. A significant process in infrastructure development and clear regulations will support ease of doing business and investment in IKN," said Yuliot.


Suryo Pratomo, The Ambassador Extraordinary Plenipotentiary of the Republic of Indonesia to Singapore, who chaperoned the delegation in all these activities also said the importance of this visit to the IKN was to follow up on the high interest of Singapore investors in the IKN development project. Previously, these investment opportunities have been described in Indonesia-Singapore Business Forum in 2022 and Singapore-Indonesia Leader’s Retreat in March 2023.


"In March 2023, Prime Minister Lee Hsien Loong even emphasized Singapore's readiness to work with Indonesia to support the planning and development of IKN as a smart and sustainable green city. Seeing is believing. Hopefully, after seeing the IKN in person, investors will be more confident about taking lucrative investment opportunities," said Suryo.


The Ambassador of Singapore to the Republic of Indonesia Kwok Fook Seng who also joined throughout the trip also appreciated the warm reception of the delegates. According to him, this is an exceptional opportunity for Singapore to support the progress of the IKN project. Kwok also stated that the government's commitment to building a green city does not only represent Indonesia but also the world.


One of the members of the Singapore delegation, Yihong Lan, Director of Suntar Environmental Technology expressed his enthusiasm for the entire concept and design of the IKN which carries the forest city concept. 


“A new capital city means opening up new opportunities for us. I think a city in the future has to be sustainable and how you take care of technology, take care of water and wastewater is the key to it all. That provides an opportunity for companies like ours,” said Lan.


This activity is a concrete step by the Indonesian government to keep its promise of providing the best facilities for investors who wish to invest in Indonesia. The series of visits to IKN began with a networking dinner on May 30, 2023, followed by a site visit for delegations to several points in IKN on May 31, 2023. (*)


For further information, please contact:

Ricky Kusmayadi

Head of Communication and Information Services Bureau

Ministry of Investment/BKPM 


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