The Indonesian Capital Investment Authority (IKN) has partnered with the Indonesia Investment Authority (INA) to enhance economic development in Indonesia, particularly in the Indonesian Capital City (IKN). The strategic partnership, formalized through the signing of a Cooperation Framework (CF) at the Grand Hyatt Bali Hotel, aims to attract global investment to the IKN. Representatives from both entities, including Deputy of Financing and Investment at IKN, Agung Wicaksono, and Board Member of the Indonesia Investment Authority, Arief Budiman, attended the signing ceremony. With an area spanning over 250,000 hectares, Nusantara is envisioned to become a 'world-class city for all' by 2045. Head of IKN, Bambang Susantono, welcomed the collaboration with INA, emphasizing its utilization of INA's global network and IKN's strategic development projects to drive investments into the IKN. Susantono underscored the significance of this partnership in line with the President's directive for INA to facilitate foreign investments in the IKN.
Furthermore, Susantono announced the forthcoming handover of the Letter to Proceed (LTP) from IKN to Masdar, scheduled for the 21st. This step marks progress in realizing foreign investments in the IKN through the Public-Private Partnership (PPP) scheme. Ridha Wirakusumah, Chairman of the Board of Directors at INA, affirmed INA's commitment to facilitating investment opportunities by leading global investors in Nusantara. The partnership with IKN enables strategic investment direction to develop Nusantara as Indonesia's world-class capital, improving the quality of life for its residents and positively contributing to Indonesia's economy. INA, entrusted with enhancing investments to support sustainable development in Indonesia, has collaborated with leading global and domestic investment institutions to strengthen Indonesia's competitiveness. Over the past three years, INA and its investment partners have committed over USD 3.2 billion, reflecting their commitment to attracting strategic 'smart capital' aligned with Indonesia's long-term development goals.
