New State Capital: Six Countries Show Investment Interest

New Capital City of Indonesia to have Four Zones for Different Purposes

East Kalimantan Governor Isran Noor has claimed that the new state capital located in East Kalimantan, named Nusantara, is already attracting international investment interest. 

“A number of developed countries in Europe and East Asia had begun to take an interest, including the UAE, the UK, Germany, China, Korea, and Japan,” said Noor in the Evening Up on Thursday 20th January.

“Regarding investors who want to help the government, I’ve got information from the president that many want to participate in building the state capital because it is built differently from other cities in the world. It will be built as a sustainable, environmental city, a green city, a smart city,” he said.

However, the government will be selective in choosing countries that will be invited to cooperate to prevent losses considering the investments will affect the country.

“The goal is to build a city that maintains an environmental perspective, so this will attract international interest. Apart from protecting the environment, they have an interest because they belong to the nations of the world,” he continued.

The plenary session of the Indonesian House of Representatives had officially approved the draft law for the state capital to become the IKN Law on Tuesday 18th January.  The initial stage of development of the state capital is estimated to start in 2022 and run until 2024.

Construction of the full city is estimated to take 20-25 years with a total budget of Rp466 trillion, both from the State Revenue and Expenditure Budget (APBN)  and private equity.

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