According to the IKN Authority, it receives a lot of letters of interest for investments; the most recent four are from Finland.

According to the IKN

According to the IKN Authority, it receives a lot of letters of interest for investments. The most recent four are from Finland.

Agung Wicaksono, the Indonesian Capital Authority’s (IKN) deputy for funding and investment.

Stated that he had received numerous letters of intent (LoI) or expressions of interest from possible European investors. Finland is home to one of these potentials.

According to an official statement released by the IKN Authority on Tuesday, January 14, 2025.

“There are four LoIs from Finland and one of them has already signed an MoU,” Agung stated. “I hope this Memorandum of Understanding can be realized so that foreign investment keeps growing.”

Together with Business Finland, the Finnish Embassy in Indonesia paid a visit to the IKN Authority today.

The visit was made because his party wants to collaborate with the IKN Authority on the development of smart cities. According to Pekka Kaihilahti, the Finnish ambassador to Indonesia, Timor Leste, and ASEAN.

“In terms of smart cities, we have the finest application. Experience, and expertise, and we want to share all of that with Indonesia,” Pekka stated.

A team from the Swedish Parliament previously visited the IKN Authority on Thursday, January 9, 2025. Sweden is interested in investing in the new capital city development project in East Kalimantan. According to Basuki Hadimuljono, head of the IKN Authority.

According to an official statement, Basuki stated, “They inquired about the advancement of electric vehicle (EV) technology and transportation.” “A number of Swedish investors will return here with him (the Swedish Deputy Ambassador to Indonesia).”

Basuki stated that President Prabowo Subianto had affirmed the continuation of the IKN. Development project in addition to the financial interest.

The State Budget (APBN).

Private sector investment, and Government and Business Entity Cooperation (KPBU) were the three sources of funding for the development of the IKN. According to the former Minister of Public Works and Public Housing (PUPR).

“We communicate that around Rp58 trillion has been invested by the private sector.”Additionally, KPBU has been made available through housing.

MUT (Multi Utility Tunnel), and road plans from Intiland and Nindya Karya that are now being processed,” Basuki stated. To far, the APBN has provided Rp68 trillion in finance.

The IKN Authority had previously set a 2024 realization goal of Rp100 trillion. However, only Rp58 trillion has been invested through the eight phases of groundbreaking that took place between 2023 and 2024. Actually, at the time, President Jokowi had pushed it multiple times.

One of them is by stating that, while implementing several ground-breaking development projects. Investing in the IKN is equivalent to purchasing the future.

According to Basuki’s most recent statement, the ninth stage groundbreaking was prepared for implementation but was awaiting President Prabowo Subianto’s timetable.