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IKN ‘more upbeat’ on investment after election provides certainty
The administration of the country's future capital says that, following lackluster interest in the megaproject during campaiging, investors are becoming more enthusiastic as preliminary results point to a single-round victory for Prabowo, who promised to prioritize developing Nusantara.
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Construction continues overnight on Nov. 2, 2023 at the site of the Central Government District (KIPP) in Nusantara, the nation’s future capital in East Kalimantan. The administration of President Joko “Jokowi“ Widodo is aiming for the KIPP’s completion by the time the country marks its 79th Independence Day on Aug. 17, 2024. (Antara/Hafidz Mubarak A)
T
he Nusantara Capital City (IKN) Authority says investors are becoming more enthusiastic about the future capital city in East Kalimantan, as the preliminary results for the presidential election last Wednesday point to a single-round victory for front-runner Prabowo Subianto, who has promised to prioritize the megaproject.
Agung Wicaksono, financing and investment undersecretary at the IKN Authority, told The Jakarta Post on Friday that both existing and potential domestic and foreign investors were now “more upbeat” and “more enthusiastic” about Nusantara.
While admitting that the election had not yet affected investors’ commitments in terms of new pledges for the IKN development project, Agung said the campaign promise of the likely successor to President Joko “Jokowi” Widodo would provide certainty for the project going forward.
The General Elections Commission (KPU) is due to announce the official results of the 2024 general election only on March 20, but the unofficial tally as well as pollsters’ quick count results show Prabowo has a nearly insurmountable lead of around 58 percent of the vote.
Prabowo achieving a single-round victory by gaining more than 50 percent of the popular vote and receiving at least 20 percent of votes in half of the country’s provinces, or 19 provinces, would make unnecessary a runoff that would otherwise be held in June.
The defense minister and former general has made his intentions very clear for Nusantara, campaigning to continue the flagship project of President Jokowi, the father of his running mate, Surakarta Mayor Gibran Rakabuming Raka.
In contrast, his rival Anies Baswedan has harshly criticized the IKN project, saying during a presidential debate that he had done the math and figured out the money for building the new capital could be used instead to develop dozens of cities across Kalimantan.
