Riani Sanusi Putri, Jakarta – Indonesian Minister of Investment or Head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, paid a working visit to the new capital of Nusantara or IKN together with the consortium of domestic investment (PMDN).

The visit was led by the founder of Agung Sedayu Group Sugianto Kusuma and Deputy Head of the IKN Authority Dhony Rahajoe on Friday afternoon, August 11, 2023.

With his visit to IKN, Bahlil ensured that the majority of the incoming investment in the project will be held by Indonesia. "This visit is aimed at reviewing the construction of IKN and seeking solutions to problems faced by investors in the IKN development project," he said in a statement on Sunday, August 13.

Bahlil said the government was continuing to work hard to achieve its goal of celebrating Indonesia's Independence Day on August 17 next year in the new capital. He also explored issues surrounding the design of the central government which has yet to be completed for investors' overview.

He assessed that infrastructure needs for investors, such as the availability of electricity, water, and telecommunications, must be met immediately. Local investors, he added, have contributed a lot to the development of the project so they must continue to be supported.

"I appreciate the private sector. The Ministry of Investment and the IKN Authority will provide the regulations that will keep facilitating [the investment]," Bahlil remarked.

Sunday's visit was a follow-up to one last July. Bahlil said the planned investment in IKN was estimated at Rp30-40 trillion. The consortium planned to conduct the groundbreaking ceremony in September 2023.

One of the consortium's representatives Sugianto Kusuma also thanked the government for speeding up the process and responding well to all obstacles faced by investors. Sugianto hoped for the availability of materials close to the project site in East Kalimantan in order to accelerate the IKN project development more effectively and efficiently.

"Yes, I hope that logistical matters will be followed up immediately. Business permits are already facilitated, so there is a high chance for the August 17 ceremony in 2024," Sugianto said.

Source: https://en.tempo.co/read/1759461/govt-ensures-majority-investment-in-ikn-project-held-by-indonesian