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Japanese, South Korean firms to invest in Nusantara, minister says
Bahlil declined to provide details on the Japanese and South Korean companies he claimed were planning to invest in the project.
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Investment Minister Bahlil Lahadalia prepares to speak with reporters at the ministry’s building in Jakarta on Jan. 24, 2023. (The Jakarta Post/Deni Ghifari)
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nvestment Minister Bahlil Lahadalia has said four unnamed Japanese and South Korean firms will invest in the Nusantara Capital City (IKN) project in East Kalimantan.
Bahlil said the foreign investors would largely focus on property development in the second ring of the planned future capital, outside the core Nusantara Central Government District (KIPP), which is to include the state palace, ministry buildings and the House of Representatives.
“For [foreign direct investment (FDI)], there are about four [foreign] companies that will enter [the Nusantara project],” said Bahlil on Monday after the first plenary cabinet meeting in the future capital.
On Aug. 5, President Joko “Jokowi” Widodo appointed Bahlil to head a task force to boost investment in Nusantara, with Agrarian and Spatial Planning Minister Agus Harimurti Yudhoyono named deputy chair.
Read also: Prabowo reaffirms commitment to Nusantara development
Bahlil declined to provide details on the Japanese and South Korean companies he claimed were planning to invest in the project.
In mid-July, President Jokowi and aides visited Abu Dhabi to pitch Nusantara to investors in the United Arab Emirates, but Bahlil said he was unable to comment on any progress on that front as he needed to check the details.
