Ministry Makes More Commitments to Drive Investment to Nusantara

Moves to drive investments to Indonesia’s new capital city of Nusantara in East Kalimantan took another step in the right direction with the Ministry of Investment committing to facilitating regulatory reforms, streamlining permit issuance processes, formulating incentives, and providing comprehensive services, according to reporting from Antara News.

In a statement received in Jakarta on Thursday, by Antara News, Yuliot, the Deputy for Investment Development at the ministry, stated that East Kalimantan province ranked 13th as an investment destination for Singaporean investors, attracting USD 1.08-billion, which accounts for 2-percent of Singaporean investment in the last five years.

“Substantial progress in infrastructure development, combined with clear regulations, will create a more favourable investment and business environment in Nusantara,” he said.

The ministry organized a three-day event titled “Singapore Business Visit to Nusantara Capital” from May 30 to June 1, 2023, involving 95-delegates from 69-Singaporean companies, say Antara News.

On May 31, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan welcomed the investors at Point Zero of Nusantara. He also took them on a tour to observe the current state of development in Nusantara.

He stated that there are vast opportunities for investors to contribute to Indonesia’s progress through investments in the new capital, which spans over 50,000-hectares, report Antara News.

“We hope that this visit can be a promising start towards collaboration and mutually beneficial goals,” added Pandjaitan.

Minister of Public Works and Public Housing Basuki Hadimuljono also briefed the investors on the progress of Nusantara’s development to attract their investments in the city.

He guided the delegates to witness the progress of Point Zero of Nusantara, Sumbu Kebangsaan Barat (Western National Axis), Construction Workers’ Residences, and Sepaku Semoi Dam.

“Currently, the development progress in Nusantara has reached 29.45-percent. We focus not only on aesthetic construction but also on the right technical formula without compromising aesthetics. Besides buildings, our current focus is on establishing toll roads to enhance accessibility to Nusantara,” Hadimuljono said.

Antara News report that Indonesia’s Ambassador to Singapore Suryo Pratomo, who was also present at the event, emphasized the significance of the visit to Nusantara as Singaporean investors are highly interested in the city’s projects.

He mentioned that the investment opportunity had been highlighted during the “Indonesia-Singapore Business Forum” in 2022 and the “Singapore-Indonesia Leaders’ Retreat” in March 2023.

Pratomo added that in March 2023, Prime Minister Lee Hsien Loong expressed Singapore’s commitment to collaborate with Indonesia in supporting the planning and development of Nusantara as a green, sustainable smart city, say Antara News.

“Seeing is believing. Hopefully, after witnessing Nusantara first hand, the investors will gain confidence in seizing this excellent investment opportunity,” remarked Pratomo.

Singapore’s Ambassador to Indonesia Kwok Fook Seng stated that the visit was a special occasion highlighting Singapore’s support for the city’s progress.

He added that Indonesia’s commitment to establishing a green city reflects not only its own intention but also that of the entire world.

Source: Antara News

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