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RI woos Japanese investors for eco-city project near Nusantara
The government has made inroads to luring investors for the Nusantara megaproject through an MoU on a partnership between the Land Bank Authority and Japan’s J Trust Group to develop Penajam Eco City, designed as a commercial hub to serve as the economic engine of the nation's new capital.
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A cleared forest area marks a 7.3-kilometer toll road project underway near the new capital city of Nusantara in East Kalimantan, as seen in this undated handout photo from state-owned construction company PT Wijaya Karya, the project’s developer. (Antara/PT Wijaya Karya) (Antara/PT Wijaya Karya)
T
he Land Bank Authority has secured a partnership with Japanese financial service provider J Trust Group to attract investment for Penajam Eco City, a commercial hub planned to be the economic engine for the future capital Nusantara.
The memorandum of understanding (MoU) signed on Wednesday aims to support the eco-city development project in North Penajam Paser regency, East Kalimantan.
Under the partnership, the group’s local subsidiary PT J Trust Consulting Indonesia is to introduce and curate potential Japanese investors for the project, while a separate subsidiary PT Bank J Trust Indonesia is to provide financing facilities to investors.
“Their role is to attract quality Japanese investors who meet our expectations and targets, using Japan's own standards,” Land Bank Authority head Parman Nataatmadja said on Wednesday, as quoted by state-owned news agency Antara.
Read also: Investors demand 12-plus percent return for Nusantara projects
Takeshi Ikeda, president director of J Trust Consulting Indonesia, explained that the company would offer consulting services, including business matching and marketing, to leverage the global expertise of J Trust Group.
“Through this MoU with the Land Bank Authority, we can contribute to Indonesia's economy and support the development of the new capital city, as well as the economic programs and activities of Japanese investors,” Ikeda said.
