Nusantara Authority OIKN Receives 328 Investment Letters of Intent for IKN

TEMPO.CO, Jakarta - A total of 328 letters of intent (LoIs) have been submitted by business actors looking to invest in the new capital city Nusantara (IKN), the Nusantara Capital City Authority (OIKN) has informed.

"We have received 328 LoIs in total, with domestic investors dominating. Meanwhile, foreign investors account for 45 percent of the total number," OIKN's deputy for investment and financing, Agung Wicaksono, said at a press conference, which was followed online from Jakarta on Friday, December 15, 2023.

Providing details, he said that 187 LoIs came from domestic players, while the rest were received from business players based in Singapore, Japan, China, Malaysia, South Korea, the United States, Spain, Finland, and other countries.

The top four foreign investors are from Singapore, Japan, China and Malaysia.

"These four countries, with each number of LoIs submitted reaching around 20, have been our partners for a long time. We have been partnering with companies from these countries," he elaborated.

Wicaksono said that President Joko Widodo has instructed the OIKN to initially prioritize processing LoIs received from domestic players.

He also informed that the OIKN has been implementing a tight selection process for potential investors in IKN Nusantara. The process involves the submission of LoIs, review and assessment of the priority scale, and direct one-on-one meetings with potential investors.

This is followed by the issuance of a response letter from the head of the OIKN, the signing of an agreement on confidentiality, and a feasibility study, before concluding with an investment agreement, he added.

Wicaksono further said that domestic investors have been more responsive in submitting the letters compared to foreign investors.

ANTARA

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