Indonesia, Japan ink MoUs on new capital development

Jakarta - Indonesia and Japan have signed five memoranda of understanding (MoUs) and 24 letters of intent (LoIs) on the development of the new Indonesian capital (IKN) of Nusantara, the Nusantara Capital City Authority (OIKN) has informed.

Bambang Susantono, Head of OIKN, said Nusantara currently has the best investment opportunity that exists in Indonesia. This is reflected by various incentives provided by the government to investors.

He affirmed that the IKN development project will not only be beneficial for Indonesia, but it could also benefit all global partners.

Susantono said the five MoUs have been inked by OIKN with Japanese agencies and companies. Meanwhile, the 24 LoIs have been delivered by Japanese companies to OIKN in front of Indonesian President Joko Widodo.

Nusantara will serve as a living laboratory, which would allow partners to experiment with new ideas and innovations, Susantono noted.

In addition, Nusantara is aiming to play an active role in global efforts to handle climate change, rejuvenate biopersity, and achieve sustainable development goals (SDGs).

The inking of the MoUs marks the beginning of cooperation between Indonesia and Japan on the IKN development project.

The OIKN head said that he expects Japanese delegations to come to IKN once again to further explore existing development as well as cooperation and investment opportunities.