Jokowi admits not one foreign company has invested in new capital city yet

Source – November 17, 2023
Widodo speaking at press conference in San Francisco – November 16, 2023 (Sekpres)

Novianti Setuningsih, Jakarta – President Joko "Jokowi" Widodo says that so far not one foreign investment has come into the new capital city (IKN) Nusantara.

The president however, is convinced that foreign investors will soon come into the new capital after domestic investors become active.

"Up until now there isn't any (foreign investment). But I'm sure that after domestic investors become active, there will be more and more every month, foreign investors will soon come in. We'll see later, they'll definitely come in", said Widodo during a press conference in San Francisco on Thursday November 16 as seen on the Presidential Secretariat YouTube channel on Friday November 17.

According to the head of state, the first stage includes fields which have been prioritised for foreign investors in the new capital, namely education, healthcare and technology. "Education, healthcare, also technology", said Widodo.

Earlier meanwhile, Widodo said that it is possible that the construction of the new capital city in East Kalimantan will only be finished in another 15 to 20 years.

This was conveyed by Widodo when he gave a public lecture at the Stanford University in San Francisco on Wednesday November 15. Widodo said this when relating developments of the capital city that is based on a forest city.

"This is a showcase of Indonesia's transformation. And in later years Indonesia plans to celebrate Independence Day in Nusantara to show that we have a new capital city", said Widodo as seen on YouTube.

"Even though perhaps the capital city (IKN) will only be finished in another 15 or 20 years", he continued.

In relation to foreign investment, Widodo once said that many investors are interested but they are waiting for domestic investors first. This was conveyed by the former Jakarta governor during the official opening of the Nusantara Pakuwon Superblock at the capital city on November 1.

More than 500 investment projects

Meanwhile as reported by, there are more than 500 investment projects and contributions that have been identified in the new capital's Core Central Government Area (KIPP).

Nusantara Capital City Authority (OINK) Finance Director Muhammad Naufal Aminuddin revealed that around 190 of these projects are open green space (RTH) developments

Then in the mixed areas there are 149 projects including 72 education facilities, 31 places of worship, 17 healthcare facilities, 10 sports facilities, three recreation, cultural and art facilities, and two social guidance projects.

"Specifically for accommodation there are 72 projects with an estimated project value ranging from 153.4 trillion to 168.7 trillion rupiah", said Aminuddin at a national seminar titled Property and Business Opportunities in Nusantara, the World Standard Capital at the Ciputra Artpreneur, Ciputra World Jakarta, on Friday November 3.

Despite having great potential for investment in various different fields including property, Aminuddin said that not all areas will be used for development because the new capital city is designed with the concept of a smart and forest city.

[Translated by James Balowski. The original title of the article was "Ditanya soal Investasi Asing di IKN, Jokowi: Sampai Saat Ini Belum Ada...".]