Lord Mayor of London observes possible investment in Indonesia’s new capital

“Indonesia has enormous potential and London supports the Southeast Asian country in building an environment that would open up global investment.”

Jakarta (Indonesia Window) – The head of Indonesia’s new capital authority, locally known as IKN Nusantara, Bambang Susantono, received a working visit of the Lord Mayor of the City of London, Vincent Keaveny, at the State Secretariat Office here on Monday.

Lord Mayor Keaveny was scheduled to be in Jakarta on June 27 and 28 with the aim of strengthening trade and investment relations between Indonesia and London, as one of the world’s financial centers.

On that occasion, they also discussed investment opportunities for the construction project of the IKN Nusantara in North Penajam Paser district, East Kalimantan province.

As the largest economy in Southeast Asia, Indonesia will become a global investment destination in the future, and the City of London stands ready to help Indonesia reach capital needed for a green transition, and infrastructure worth 500 billion U.S. dollars that Indonesia hopes for, Keaveny explained.

He also expressed his interest in participating in the field of education, and would invite universities from the U.K. to the Indonesian new capital.

The Lord Mayor of the City of London also planned to meet again with the IKN Authority in October 2022 to discuss the matter more profoundly.

Bambang Susantono said the initiative of new capital development continues to receive positive interests from the private sector, even from foreign governments and companies.

“To build the new capital, we learn a lot from the capitals of big countries, one of which is London, England. This support from the government of London opens up opportunities for funding and investment, which is one of our priorities so that development can proceed as planned,” he said.

That way, the Indonesian government can immediately move to an area that is focused on being the center of government. So that it can be more optimal in serving the people,” Bambang added.

Meanwhile, British Ambassador to Indonesia and Timor Leste Owen Jenkins said that London once again shows that Indonesia is a priority.

According to Jenkins, he is very pleased to welcome the Lord Mayor of the City of London to Jakarta, discussing how Indonesia can take advantage of London’s status as a global financial center to boost the archipelago’s economic growth.

He sees Indonesia has enormous potential and London supports the Southeast Asian country in building an environment that would open up global investment.

The new capital city development implements three pillars that reflect national identity, namely ensuring the sustainability of social, economic and environmental life, as well as realizing a smart, modern and international standard city.

The new capital city planning focuses on five development principles, including smart workplace, smart living, smart mobility and transportation, smart nature preservation, smart transformation of nation and culture.

Reporting by Indonesia Window