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Corruption in KPK Will Affect Foreign Investment in IKN, Expert Says

Translator

Najla Nur Fauziyah

Editor

Laila Afifa

23 November 2023 20:15 WIB

TEMPO.CO, Jakarta - An economist from UPN Veteran Jakarta Achmad Nur Hidayat warned that the crimes involving the Chairman of Corruption Eradication Commission (KPK) Firli Bahuri will potentially shoot down foreign investor's trust in Indonesia. That includes the trust to invest in the state capital project of IKN.

As previously reported, Jakarta Metro Police officially named Firli Bahuri as a suspect in the extortion case against the former Minister of Agriculture on Wednesday evening, Nov. 22.

"Foreign investors would think twice before investing in IKN since they're worried that the investment climate is currently not conducive," Achmad said to Tempo on Thursday, Nov. 23, 2023.

Additionally, foreign investment in IKN was still barren even before the case against the chairman of KPK. On Nov. 16. President Joko Widodo admitted that the IKN project still has not garnered any foreign investors. 

According to Achmad, this case would make investors doubt Indonesia's commitment to law enforcement and corruption eradication since KPK is an independent body authorized to combat corruption.

Therefore, potential investors would likely postpone their plan to invest in the project until after Firli Bahuri's alleged extortion case is handled. 

"Foreign investors also could reduce their investment value [in IKN]," Ahmad said.

Thus, he added, the government must handle Firli Bahuri's case seriously. "Investors require legal certainty and a corruption-free climate to invest safely and ensure profit," he added.

Earlier, it was announced on Oct. 8 that the investigation against the alleged extortion case involving Firli Bahuri has started. Firli Bahuri was then charged with Article 12(e), Article 12(B), and Article 11 of the Corruption Eradication Law No. 31 of 1999 as amended with Law No. 20 of 2001 in conjunction with Article 65 of the Penal Code.

RIRI RAHAYU | M. FAIZ ZAKI

Editor's Choice: Police Name KPK Leader Firli Bahuri Suspect in Extortion Case Against Syahrul Yasin Limpo

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KPKFirli BahuriForeign Investor IKNExtortion


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