Singapore Investors Don't Want to Miss Out Nusantara Project


President Joko "Jokowi" Widodo claimed that he had secured commitments from Singaporean investors to develop the Nusantara National Capital City (IKN).

The 24 letters of intent (LoI) received from private sector investors in Singapore serve as evidence of their interest in the IKN project. "In this meeting, we received 24 LoIs from the Singaporean private sector for investment in the Nusantara Capital," Jokowi said following a meeting with Singapore Prime Minister Lee Hsien Loong on Thursday.

Furthermore, Lee Hsien Loong said that Singapore had signed a memorandum of understanding on Sustainable Development, Urban and Housing, focusing on developing innovative financing for smart and sustainable infrastructure projects. Singapore will also support knowledge transfer and research and development activities. "Singapore is pleased to assist in realizing President Jokowi's vision," Lee said.

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