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Minister dismisses doubt over IKN investment, says many projects have started

Tempo - January 31, 2024

Yohanes Maharso, Defara Dhanya, Jakarta – Suharso Monoarfa, Minister of National Development Planning/Head of Bappenas, denied the notion that investors are hesitant to invest in Nusantara National Capital City (IKN) projects in East Kalimantan.

Suharso said the fact that many projects have started is proof that investors are interested in IKN.

"There are many projects' ground-breaking ceremonies already," Suharso said after the National Development Risk Management Committee's meeting at the Bappenas Office in Jakarta on Tuesday, January 30.

He said that when an investor has held a groundbreaking ceremony, then the project will definitely continue. Thus, he said that his ministry remains optimistic about investment in IKN.

Suharso said that since 2020 many domestic investors have a strong interest and want to be involved in IKN development. He believes that it is important to have investments in the new capital city initiated by domestic investors, to show that investment in IKN is attractive.

Nusantara Capital Authority (Otoritas IKN) chairman Bambang Susantono shares the same sentiments regarding rumors of doubts over investment returns in IKN. Bambang said that if investors have laid the first stone in their IKN projects, it means that they have calculated the feasibility of the projects, including the profits.

Met on the sidelines at the Nusantara Fair 2024 at the Grand Atrium in South Jakarta on January 26, Bambang said that he has also confirmed that the market size will continue to increase along with massive development in the new capital city.

Source: https://en.tempo.co/read/1827986/minister-dismisses-doubt-over-ikn-investment-says-many-projects-have-starte