The Nusantara Capital City Authority (OIKN) has reported a significant interest in the Nusantara Capital City project, with approximately 357 letters of intent (LoIs) received from potential investors, 42% of which are from foreign companies. Deputy for Financing and Investment of OIKN, Agung Wicaksono, highlighted that the majority of foreign investment interest originates from countries like Singapore, Malaysia, Japan, China, and South Korea. The most sought-after sectors for investment include housing, technology, and energy. Currently, about eight companies are in the process, having completed feasibility studies and undergoing evaluation for future selection and tender. These companies, primarily from China and Malaysia, are estimated to invest at least IDR 45 trillion solely for their capital expenditure in construction.
Moreover, the technology sector is attracting investors interested in transforming the city into a smart city, with interest from countries like Korea, the United States, France, and China. Additionally, the energy sector has garnered interest from Middle Eastern countries such as the United Arab Emirates and Saudi Arabia, with potential allocations ranging from USD 5 billion to USD 10 billion for developing renewable energy. Agung emphasized that investments in the Nusantara Capital City are not affected by the upcoming elections, as OIKN is focused on ensuring a smooth transition process between administrations. In the coming weeks, the fifth groundbreaking ceremony is scheduled, with a particular focus on the banking sector. Furthermore, Head of OIKN, Bambang Susantono, highlighted international collaborations, including partnerships with renowned universities like Stanford University, to oversee the city's development. Overall, the interest shown by investors, both domestic and foreign, underscores the potential and attractiveness of the Nusantara Capital City project, with various sectors poised to benefit from significant investments, driving economic growth and development in Indonesia.
