AmCham Indonesia had a fruitful discussion with the Chairman of the Nusantara National Capital (IKN) Authority, Bambang Susantono, on May 24, at his office in Jakarta.
The government has been pushing hard to attract foreign and domestic investors to get involved in IKN, which is intended to not only move Indonesia’s capital from Jakarta but is also part of Indonesia Vision 2045, the desire to become a developed country. President Joko Widodo has said he wants to celebrate Independence Day next year in Nusantara, although the project will only be partly completed.
Bambang said IKN will be a lively and digitally connected city, not a boring government city.
Participants were curious about the financial standing of the project, and the impact of the political year ahead on its progress. With only 20 percent of the funding needed coming from the state budget, IKN senior executives said 80 percent must be fulfilled through public private partnership (PPP) schemes and other mechanisms. There will be a dedicated state-owned enterprise under the Authority to implement the project and work with investors.
Participants also asked about critical digital infrastructure to support the smart city, policy issues revolving around cross-border data flows in the city and details of the PPP schemes.
Bambang invited interested AmCham company members to visit the new capital in Kalimantan. AmCham will work to put together a visit for interested members to the site.
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