Antara, Jakarta – The Nusantara Capital City Authority (OIKN) is targeting to secure private investment of Rp10 trillion for the third phase of groundbreaking activities in East Kalimantan.

"We are targeting to generate Rp10 trillion from the third groundbreaking," deputy for funding and investment at OIKN, Agung Wicaksono, informed at the "IKN Investment Opportunities" event in Jakarta on Friday, December 1, 2023.

According to him, investment for the third phase of groundbreaking will still come from domestic investors.

"Yes, it is still domestic investors at IKN. Similar to investors from previous groundbreakings, they partner with foreign investors as well," Wicaksono said.

One example is Pakuwon, which is partnering with international hotel chain Marriott to build a hotel at IKN.

"Indeed, foreign investors have entered IKN to collaborate with domestic investors," he added.

Regarding the third groundbreaking schedule, Wicaksono said the plan is being coordinated with related parties and will be adjusted to President Joko Widodo's schedule.

The groundbreaking phases carried out by private domestic investors so far have been taken as a sign of their high confidence in investing in Nusantara.

Besides bringing development and growth to the local area, the IKN project is also becoming an economic driving force and demonstrating the high interest and trust of private and government investors in IKN.

The recent groundbreaking activities have been the result of a long process that began with last year's market poll. The next groundbreaking activity is expected to be held this month.

The groundbreaking activities are also evidence that development is starting to take shape as per expectations at IKN.

Earlier, President Widodo said that he is prioritizing domestic investors in Nusantara despite receiving over 300 letters of intent (LoIs) from foreign investors.

"I believe that the number (of foreign investors seeking to invest in IKN) will continue to increase. However, we are currently prioritizing domestic investors," he informed on November 20, 2023.

Source: https://en.tempo.co/read/1804608/oikn-targeting-rp10-trillion-investment-in-3rd-ikn-groundbreakin