President Joko Widodo (Jokowi) made headlines as he took the stage in front of Singaporean investors on June 7th to promote the ambitious Nusantara Capital City (IKN) project. The president’s enthusiastic endorsement of the project attracted significant attention from foreign media outlets.
During his keynote speech at the Ecosperity Week conference in Singapore, President Jokowi addressed the project’s viability in East Kalimantan, delving into crucial aspects such as its ability to attract substantial investments, facilitate population growth, and ensure its commitment to environmental sustainability and carbon neutrality.
The Singaporean media outlet, Strait Times, captured Jokowi’s confident assurance, quoting him saying, “Everything will be fine. Who’s afraid?” Furthermore, the president emphasized the security of investors’ interests, stating, “Your investments (Singaporean investors) in Indonesia will remain secure.”
Jokowi’s presentation aimed to instill confidence in potential investors by emphasizing the long-term continuity and sustainability of the Nusantara Capital City project. Concerns were raised about the project’s fate beyond Jokowi’s presidency, as the transition of power in 2024 could potentially jeopardize its progress. To address these concerns, Jokowi reiterated his commitment to the project’s completion and stated that the development of the Nusantara Capital City would continue seamlessly, regardless of the political landscape.
The media outlet further highlighted Jokowi’s vision for the project, describing his plan to gradually build the city over the next two decades, with an ambitious target for completion set in 2045.
The scale of the project is immense, covering an area of 2,561 square kilometers, approximately three times the size of Singapore. This extensive undertaking aims to alleviate the mounting pressures faced by Jakarta, Indonesia’s rapidly growing capital, including issues such as frequent flooding, traffic congestion, and air pollution.
In pursuit of securing the necessary funding for the Nusantara Capital City, the Indonesian government has intensified its efforts. Jokowi’s administration plans to cover 20 percent of the project’s development costs, with the remaining investment expected to come from the private sector.
As the deadline for the inauguration of the project’s initial phase draws near, the government is keen to solidify commitments from potential investors, ensuring the successful realization of this ambitious endeavor.
It is worth noting that the Nusantara Capital City project has been a topic of interest for several years. Jokowi’s announcement of the project three years ago sparked both excitement and skepticism. However, as the development plans progress, it becomes increasingly evident that Indonesia is committed to transforming this visionary concept into a tangible reality.
The creation of a smart city and green city, equipped with world-class facilities, serves as a testament to the government’s dedication to building a comfortable and sustainable environment for residents and businesses alike.
President Jokowi’s recent promotion of the Nusantara Capital City project in Singapore has undoubtedly created ripples of anticipation within the investment community. With his unwavering support and promises of a secure investment environment, Jokowi seeks to rally international stakeholders and propel the development of the Nusantara Capital City towards a prosperous future.
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