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Jokowi looks to steady IKN Authority ship, claims big investment coming
During a groundbreaking ceremony in Nusantara, East Kalimantan, President Joko "Jokowi" Widodo claimed that the new capital city project will receive "a big investment" from the United Arab Emirates in the coming months, while urging potential investors to buy land in the future city.
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A general view of the Central Government District construction in the new capital of Nusantara is seen on March 8, 2023 in Sepaku, East Kalimantan. (Reuters/Willy Kurniawan)
P
resident Joko “Jokowi” Widodo has claimed that the new capital in Nusantara will see a big boost in foreign investment in the coming months, as the outgoing leader scrambles to appease concerns about the project, following the surprise departure of two top administrators from the Nusantara Capital City (IKN) Authority.
Jokowi, who will step down from office in October, has been under pressure in recent days to address concerns surrounding the fate of his Rp 541 trillion (US$33 billion) new capital city project, for which he has expended massive political resources to get up and running.
Several national companies have eagerly accepted the President’s repeated sales pitches over the past few months, but the project has failed to garner similar commitments from foreign investors.
On Tuesday, Jokowi visited Nusantara in East Kalimantan to oversee the groundbreaking of construction projects from automotive group Astra and privately owned Gunadarma University. The President also inaugurated the Sepaku Semoi Dam, slated to be one of the new city’s clean water sources.
During the groundbreaking ceremonies, Jokowi talked about his meeting with leaders of United Arab Emirates-based multinational real estate developer Emaar Properties, in which the businesspeople complimented the beauty of the under-construction city.
“I told him that I wasn’t interested in his compliments; what I want is his investment,” Jokowi said.
Read also: IKN project should continue, says ex-Nusantara deputy
