The Nusantara Capital Authority (IKN Authority) has partnered with the Indonesia Investment Authority (INA) to boost economic development in the new capital city, Nusantara. This strategic partnership was formalized through the signing of a Cooperation Framework (CF) at the Grand Hyatt Bali, attended by Agung Wicaksono, Deputy for Funding and Investment at IKN Authority, and Arief Budiman, Member of the Board of Directors at INA. The collaboration aims to attract global investment to Nusantara, which spans over 250,000 hectares and is envisioned to become a "world-class city for all" by 2045. The IKN Authority Head Bambang Susantono expressed optimism about the partnership, leveraging INA's global network and IKN's strategic development projects to drive investment. "The signing of this cooperation framework with INA follows the President's directive for INA to facilitate foreign investment in IKN," said Bambang on 20 May 2024. He also announced the forthcoming handover of a Letter to Proceed (LTP) to Masdar, witnessed by the Coordinating Minister for Maritime Affairs and Investment and the UAE Minister of Energy and Infrastructure, marking a significant step in realizing foreign investment in IKN through the Public-Private Partnership (PPP) scheme.
Ridha Wirakusumah, Chairman of INA's Board of Directors, affirmed INA's commitment to exploring investment opportunities with global investors in Nusantara. "This partnership allows us to strategically direct investments to develop Nusantara into a world-class capital, enhancing the quality of life for its residents and contributing positively to Indonesia's economy," Ridha stated. INA, tasked with boosting sustainable development and national wealth, has built strong relationships with international investors, resulting in significant investment commitments. To date, INA and its partners have invested over USD 3.2 billion (approximately IDR 50 trillion), reflecting their commitment to attracting strategic "smart capital" aligned with Indonesia's long-term development goals. The event continued with a follow-up meeting on foreign investment realization in IKN, attended by officials from the Coordinating Ministry for Maritime Affairs and Investment, IKN Authority, the Indonesia Investment Promotion Center (IIPC) Abu Dhabi, and the Tony Blair Institute for Global Change Indonesia.
