New Capital Lost Potential Investors, Again

By Editorial Team 29/03/2022
Foreign investment
Summary

The government reportedly failed to explore two potential investors to build the Nusantara National Capital (IKN). Two sources quoted by Bisnis Indonesia said the two consortium investors followed SoftBank's failure to invest in developing the new capital city in Penajam Paser Utara, East Kalimantan. "Some reportedly will withdraw, but the reason is still unclear," says the source on Monday.

Another source said that the withdrawal of the two potential investors had already spread among policymakers. However, the two sources were not willing to provide the identity of the consortium or the investors who withdrew from the plan. When asked for a response, IKN Communications Team Head Sidik Pramono refused to confirm the information. He only said that the funding for the preparation, development, and transfer of IKN came from the state budget and other sources.

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