Tag: invest in Indonesia

Brunei based infrastructure company Brunergy Utama announced plans to build the first high-speed train on Kalimantan Island. This more than 1,600 km long project will connect Brunei with its two neighboring countries, Indonesia and Malaysia.

Reporting from Nikkei Asia, Tuesday (2/4/2024), the company which originally operated in the oil and gas sector launched the project at the end of last week. The Trans-Borneo Railway project will stretch 1,620 kilometers from the west to the east side of Kalimantan, crossing three Southeast Asian countries.

According to the announcement, the first phase will connect Pontianak, the capital of Indonesia’s West Kalimantan province, with Kuching and Kota Kinabalu, the capitals of the Malaysian states of Sarawak and Sabah, then on to Brunei’s Tutong district, as well as the island’s west and north coast. .

Next, the second stage will run south and connect Tutong with the provinces of North Kalimantan and East Kalimantan in Indonesia. In this case, including the cities of Samarinda and Balikpapan.

“And it will become the capital of Indonesia in the future, Nusantara (IKN),” said the company.

There will be four terminals serving as the main hubs of the high-speed rail network along with a total of 24 stations, and the bullet trains are planned to travel at speeds of up to 350 kilometers per hour, according to the proposal. This project is reportedly estimated to cost US$ 70 billion or the equivalent of IDR 1.113 trillion (exchange rate IDR 15.900). However, the prospects for this project, including the participation of Malaysia and Indonesia in it, are still unclear.

Sabah State Chief Minister Hajiji Noor praised the proposed mega railway project, saying it would be an economic catalyst for the Kalimantan region. According to him, if this project is realized, it will facilitate trade, encourage industrial growth in border areas, increase tourism in the Kalimantan region, and increase connectivity between communities.

Meanwhile, Malaysian Public Works Minister Alexander Nanta Linggi said last November that his ministry had received an initial proposal regarding the project. He said the federal government had approved a special financial allocation to carry out a feasibility study on routes in Sabah and Sarawak. This is based on the Free Malaysia Today report.

However, Sarawak Prime Minister Abang Johari Openg said that the Sarawak state government had not been officially approached by the Brunei-based company to start the project.

Nikkei Asia confirmed to local government officials in North Kalimantan that several discussions had been held regarding the project with Brunei, but Indonesia had not yet committed to anything. Ministry of Transportation spokesperson Adita Irawati also said the same thing.

“There has been no follow-up regarding this issue, especially involving the ministry,” said Adita.

Regarding this, Brunei’s Minister of Communication and Transport Shamhary Mustapha emphasized that this proposal had not been officially discussed at the government level, including with the Government of the Republic of Indonesia.

April 2, 2024, detikFinance

(https://finance.detik.com/infrastruktur/d-7273522/perusahaan-brunei-bakal-bangun-kereta-kecepatan-tinggi-tembus-ke-ikn)

The Ministry of Industry targets the gross domestic product (GDP) of the manufacturing industry in 2024 to grow 5.8%, higher than the 2023 projection of 4.81%. On the other hand, safeguardglobal.com noted that last year, Indonesia was included in the top 10 contributors to world manufacturing products and was the only ASEAN country. Based on this publication, Indonesia contributes 1.4% to global manufactured products. This prestigious position is a significant increase, because four years ago, Indonesia was still in 16th position.
The increase in ranking also indicates that the manufacturing sector has a multiplier effect on other sectors. As an illustration, with increasing industrial output, the transportation sector will also increase, as will the energy, agricultural, plantation and maritime sectors which are sources of raw materials and production input factors for the manufacturing sector.
Indonesia’s position in the ranks of world manufacturing is strengthened by the value of industrial output which continues to increase in the period 2020 to September 2023. In 2020, the value of industrial output was recorded at US$ 210.4 billion, then increased to US$ 228.32 billion in 2021, and increased again amounting to US$ 241.87 billion in 2022. Meanwhile, until September 2023, the value of industrial output has reached around US$ 192.54 billion.
Responding to this, Economist from the Institute for Economic and Community Research, Faculty of Economics and Business (LPEM FEB) University of Indonesia, Kiki Verico, said that the manufacturing sector continues to show positive performance in its contribution to the Indonesian economy. It is hoped that this positive performance will become the main capital to attract more foreign investment with an export orientation.
“Indonesia currently cannot be called deindustrialized. Deindustrialization is experienced by countries that have reached the stage of advanced manufacturing or advanced manufacturing, then declined (sunset) and started to be replaced by other countries whose manufacturing was just taking off (sunrise). The advanced industrial countries then shifted their backbone. “the economy is moving from the manufacturing industry to the service sector,” explained Kiki, written Friday (29/3/2024).
Kiki also said that collaboration between ministries was needed to strengthen the manufacturing sector which in the future could increase Indonesia’s exports and make a bigger contribution to the national economy.
Throughout 2023, the manufacturing industry recorded impressive performance and contributed to the growth of national Gross Domestic Product (GDP). This can be seen from Bank Indonesia’s Prompt Manufacturing Index (PMI) in the fourth quarter of 2023 which reached 51.2% or is still in the expansion zone. This figure is in line with data released by S&P Global which shows the manufacturing sector has been at an expansion level above level 50 for 30 consecutive months. Only two countries were able to record this achievement, namely Indonesia and India. Manufacturing is still the number one contribution to GDP in Indonesia, namely 19% in 2023. In terms of labor absorption, the manufacturing sector also still contributes 16% of the total in Indonesia.
The manufacturing sector is also the highest tax contributor in Indonesia. “This means that manufacturing is very significant for the Indonesian economy, because the added value is the greatest, labor absorption is also the largest, formal activities that provide a fixed salary are also the largest, so tax revenues are also the largest from manufacturing,” he explained.

March 29, 2024, detikFinance
(https://finance.detik.com/industri/d-7267740/kinerja-manufaktur-ri-tumbuh-positif-begini-datanya)

The sustainability of the Indonesian Capital City (IKN) project was a big question before the 2024 presidential general election. However, the election of the candidate pair (paslon) Prabowo Subianto-Gibran Rakabuming Raka made the project provide certainty for IKN. It is hoped that this certainty will attract more interest from foreign investors, including from China. As is known, in the campaign and debate, Prabowo-Gibran expressed their intentions and plans to continue the IKN project initiated by President Joko Widodo.
Several countries have expressed interest in participating in the construction of a new capital city that represents the future of Indonesia’s central government. Among them are two neighboring countries, Malaysia and Singapore, and there are two large countries, namely China and the United States, which have also expressed their interest in participating in the development of IKN. The two countries’ commitment to investing is increasingly serious. Representatives from these countries are actively involved in meetings with local officials to further strengthen their commitment to investing in IKN.
Quoted from the South China Morning Post, China is positioning itself to become one of the largest foreign investors in IKN, Indonesia’s new capital city plan which will be built from scratch over the next 20 years amidst forests and palm tree plantations. This investment is expected to become a prominent feature in efforts to build smart cities and other important urban zones in other countries.
These projects will in turn help China connect with friendly countries to facilitate trade, thereby giving Chinese construction companies the opportunity to prove themselves abroad.
Beijing based state-owned construction company Citic Construction, has expressed interest in developing 60 residential towers in IKN, which would replace flood-prone Jakarta as the country’s capital. The move was delayed due to the coronavirus pandemic, but government offices may be relocated this year as officials seek to reduce the burden on Jakarta.
China will continue to invest in Indonesia, including IKN, as the goal of the Belt and Road Initiative (BRI). Beijing’s flagship Belt and Road Initiative (BRI) has given birth to Chinese-funded infrastructure projects in many countries, including ports, highways and power plants. Smart city construction, a term that usually refers to technology-aided management of traffic and urban resources, advances China’s goal of increasing “connectivity”, especially in countries near its borders such as those in Southeast Asia.
A number of Chinese analysts and economists are optimistic that China will enter the IKN project. This step was taken to expand China’s portfolio in Asian countries. China has also been heavily involved in building new cities in Asian countries so building IKN will be the next goal. Xu Tianchen, senior economist with the Economist Intelligence Unit, said Chinese construction companies are eager to prove themselves overseas. IKN is an interesting project.
“It can be said that China has a squad of technical and building experts that has developed rapidly since the 2000s. China also has an experienced team in providing development solutions from financing to maintenance.” Xu said, quoted from the South China Morning Post.
“Chinese construction companies are now very competitive in terms of skill capacity,” said Zha Daojiong, professor of international relations at Peking University.
Zhao Xijun, a finance professor from Renmin University in Beijing, explained that for China, Indonesia is the biggest partner in Southeast Asia. China and Indonesia have also collaborated a lot, from building high-speed trains to toll roads. According to him, the Jakarta-Bandung high-speed train is an example of China’s success that could be a model. However, he warned that China’s economic slowdown could become an obstacle to Chinese investment in IKN.

March 26, 2024, CNBC Indonesia
(https://www.cnbcindonesia.com/research/20240326113107-128-525483/analis-china-yakin-xi-jinping-serius-investasi-di-ikn)

The Indonesian Embassy in Hanoi together with the Vietnamese Ministry of Foreign Affairs and the Khanh Hoa Provincial Government held a Meet Indonesia event. This is a meeting place for governments and business people between Indonesia and Vietnam to explore various opportunities for cooperation. Apart from sharing information on strategic sector development, the event also brought together business partnerships in agriculture, fisheries, tourism, digital economy, energy transition and cutting-edge industrial sectors.
Indonesia and Vietnam plan to strengthen strategic sector economic partnerships through mastering the latest technology. This was the main discussion in the bilateral meeting between Deputy Minister of Foreign Affairs of Vietnam Nguyen Minh Hang and Deputy Coordinating Minister for Economic Affairs Edi Prio Pambudi in the middle of the event held in Nha Trang, Coastal City of Khanh Noa Province.
Nguyen Min Hang said that the opportunity for strategic sector economic partnerships came at the right moment ahead of the celebration of 70 years of diplomatic relations between Indonesia and Vietnam which has a strong foundation of friendship.
“I want a dialogue at the Deputy Minister level to discuss various important economic partnership issues,” said Nguyen in an official statement from the Coordinating Ministry for the Economy, Sunday (24/3/2024).
As a fellow country that is developing rapidly and a member of ASEAN, Nguyen Min Hang assesses that there are many similarities in Vietnam’s efforts with Indonesia which need to be collaborated to take advantage of opportunities from the current world dynamics, including mastery of technology in various sectors. Nguyen also congratulated Indonesia on Indonesia’s success in holding elections and the start of discussions on Indonesia’s accession to the OECD. As a member of the G20 and ASEAN, Nguyen believes that Indonesia is a strategic partner for Vietnam.
Meanwhile, Edi Prio also welcomed Vietnam’s proposal to strengthen strategic sector economic partnerships. He said that Indonesia was interested in investment progress in Vietnam’s rapidly developing advanced industrial sectors, such as electric cars, semiconductors, telecommunications and digital technology, in addition to agricultural and fisheries technology.
For this reason, it is important for Indonesia to partner through research and development (R&D), exchange of job opportunities and training for digital and engineering talents and make it easier for each other to open the door to investment.
“For a long time, we have wanted to form a strategic economic partnership forum with Vietnam,” said Edi.
Edi has submitted the concept of a partnership agreement through diplomatic channels and hopes it can be agreed soon. This agreement will later become an umbrella to accommodate strategic economic cooperation with concrete output, especially benefits for engineers and digital talents to jointly master advanced technology.
Indonesia and Vietnam have partnered in several forums other than ASEAN, such as IPEF and RCEP, which need to strengthen economic integration in ASEAN. Edi also asked for Vietnam’s help as a member of the Great Mekong Sub-region (GMS), which is a forum for ASEAN sub-regional cooperation in the continental ASEAN region, to communicate with other GMS partners.

March 24, 2024, detikFinance
(https://finance.detik.com/industri/d-7258820/ri-bidik-kerja-sama-litbang-teknologi-mobil-listrik-semikonduktor-ke-vietnam)

Economists say that the victory of Prabowo Subianto-Gibran Rakabuming Raka in one round of the 2024 Presidential Election has provided certainty to investors. As a result, investment flows from abroad are expected to return to Indonesia soon.
Staff for Economics, Industry and Global Markets from Bank Maybank Indonesia, Myrdal Gunarto, said that certainty regarding who will be elected in the presidential election has provided certainty to investors. He predicts that the flow of foreign capital in the form of Foreign Direct Investment will come soon.
“In terms of FDI, it seems that with this certainty, global-based companies really have a need to come immediately,” he said, quoted Friday, (22/3/2024).
Myrdal said the results of the legislative election contributed to the market’s positive response to Prabowo-Gibran’s victory. The results of the legislative elections, he said, show that the party supporting candidate number 2 will become the majority in parliament. “This causes euphoria from global investors,” he said.
Myrdal believes that with this sentiment, combined with Indonesia’s solid economic conditions and controlled socio-political conditions, global investors will soon enter Indonesia. However, the return of foreign funds to the Indonesian portfolio market is still very much influenced by the future attitude of the United States central bank, The Fed.
He predicts that the sectors that will be targeted by Foreign Direct Investment will be the sectors that are part of Prabowo-Gibran’s work program. These include the mining, agriculture and communications technology sectors, as well as green energy.
“The hope is that the election results that have been officially announced, and Prabowo-Gibran will support the continuity of the Jokowi government,” he said.
Meanwhile, Bank Mandiri Chief Economist Andry Asmoro said that his party had not calculated the detailed impact of the election results on the flow of foreign capital to Indonesia. However, according to him, the Fed’s decision will greatly determine the entry of foreign capital into the Indonesian market.
“We haven’t calculated the inflow projections in detail, but it should be that outside of the election there is a cut in the Fed’s benchmark interest rate, this will encourage inflows to emerging markets, including Indonesia,” he said.

March 22, 2024, CNBC Indonesia
(https://www.cnbcindonesia.com/news/20240322094214-4-524368/prabowo-gibran-pemenang-pilpres-investasi-ri-diprediksi-moncer-lagi)

The Indonesian government and Vietnam are accelerating the implementation of cooperation in lobster cultivation in the country. This implementation takes the form of opening the door to investment in lobster cultivation by Vietnamese business actors in Indonesia.
“Regarding the development of BBL, there is already an MOU, it remains at the Technical Implementation Agreement level. As a follow-up, we will create a team for this collaboration,” said Minister of Maritime Affairs and Fisheries Sakti Wahyu Trenggono in a written statement, Friday (22/3/2024).
This was expressed by him during a bilateral meeting with Vietnam’s Deputy Minister of Agriculture and Rural Development Phung Duc Tien at the Meet Indonesia event in Nha Trang, today. He explained that collaboration in developing lobster cultivation would provide benefits for both countries.
“Lobster cultivation in Indonesia will grow in terms of quantity and quality, while Vietnam gets clear lobster seeds as raw material for legal lobster cultivation,” he explained.
He said this collaboration is also a solution to suppress the illegal practice of trading lobster seeds which has been proven to threaten the sustainability of the ecosystem and is detrimental to the country. BBL smuggling practices also include IUU Fishing which is prohibited globally.
“In the future, we can create a hatchery for lobster development. We will maintain the quality and price so that it benefits both parties,” said Trenggono.
Additionally, Minister of Maritime Affairs and Fisheries (KKP) Sakti Wahyu Trenggono said that fisheries collaboration between Indonesia and Vietnam has the potential to make the two countries fisheries champions in the region. Trenggono even believes that he is not only a champion in the region, but even at the global level.
“If Indonesia and Vietnam unite, these two countries will become a power in the region,” said Trenggono in a written statement, Thursday (21/3/2024).
Meanwhile, Phung Duc Tien said that lobster cultivation has an important role in encouraging economic growth in his country. For this reason, his party focuses on maintaining the quality of cultivation and sustainability of these shell fishery commodities. Regarding follow-up cooperation, there are already several Vietnamese companies that meet the requirements of the two countries. He proposed a hotline as an official communication channel to accelerate the realization of agreed fisheries cooperation.
“There are several companies in Vietnam that meet the requirements of both countries, and I hope that from Indonesia there will be a draft cooperation document for this in the future,” he said.
As additional information, in the bilateral meeting, the two also discussed the potential for cooperation in developing seaweed, shrimp, tilapia, crab and tuna cultivation. This is a joint step to meet the needs of fishery products in the global market.

March 21, 2024, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-7255837/ri-percepat-implementasi-kerja-sama-budidaya-lobster-dengan-vietnam)
(https://finance.detik.com/berita-ekonomi-bisnis/d-7253728/kolaborasi-perikanan-ri-vietnam-trenggono-jadi-kekuatan-di-kawasan)

The Institute for Development of Economics and Finance (INDEF) predicts that Indonesia’s economic growth will not reach 5% in 2024. There are a number of reasons why.

“So, if INDEF predicts, it is not pessimistic but realistic, for 2024 economic growth is predicted to be 5.2% but INDEF predicts only 4.8% considering global and domestic conditions. This is moderate. Not pessimistic,” said INDEF Executive Director Esther Sri Astuti in the agenda. detikcom Leaders Forum “Monitoring Opportunities in the Midst of Economic Uncertainty at Samisara Ballroom, Sopo Del Tower, South Jakarta, Thursday (14/3/2024). This event is supported by PT KB Bank Tbk, PT Bank Central Asia Tbk, and PT Bank Syariah Indonesia Tbk.

Esther then explained that one of the factors that prevents economic growth from reaching 5% is household consumption. He explained that it is common knowledge that Indonesia’s economic growth is driven by household consumption, the amount currently is around 53% of the total economic growth cake.

The problem, he explained, was that Indonesia faced various challenges in the household economic aspect. Food prices are rising, on the other hand, the minimal supply of basic commodities is not in line with high public demand.

“Supply less demand still causes prices to rise. Moreover, supply is short, demand increases plus there are seasonal factors such as elections, Ramadan and Eid,” he explained.

For this reason, he said that the erosion of consumer purchasing power has also caused the household consumption sector to slow down. Therefore, he emphasized that INDEF indicated that Indonesia would experience slowing economic growth in the near future.

“Insufficient supply and increasing demand reduce consumer purchasing power and slow down the consumption sector. And finally, because 53% of economic growth is driven by the household consumption sector, our prediction is a slowdown in economic growth,” he concluded.

On the other hand, General Chair of the Indonesian Entrepreneurs Association (APINDO) Shinta Widjaja Kamdani, said that 2024 is still full of uncertainty. Even though the economic growth target is in the range of 4.8-5.2%, no one knows for sure whether this target can be met or not.

“Why is the theme pessimistic, uncertainty? I think it is appropriate because this year is full of uncertainty. So, we may predict the target, we are in the range of 4.8% to 5.2%, but in reality nobody will know for sure,” he said at the detikcom Leaders event Forum ‘Monitoring Opportunities in the Midst of Economic Uncertainty’ This event is supported by PT KB Bank Tbk, PT Bank Central Asia Tbk, and PT Bank Syariah Indonesia Tbk, Thursday (14/3/2024).

Shinta thinks this is the first time a prediction has been made without any confidence. “This is the first time we have made a prediction. We are not sure about the prediction we made,” he said.

Meanwhile, BCA VP Economic Research, Agus Salim Hardjodinoto believes that the economic growth target of around 5% is relatively feasible. However, there need to be certain components to be able to achieve this target.

“Indeed, there will be data, there is an opportunity for this growth of around 5% to be relatively feasible. We hope that there will be interesting things amidst this uncertainty that can be close to the government’s target,” he concluded.

March 14, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7240785/ekonom-prediksi-ekonomi-ri-tak-sampai-5-di-2024-ini-alasannya)

(https://finance.detik.com/berita-ekonomi-bisnis/d-7240712/pengusaha-ekonom-pesimistis-soal-ekonomi-ri-bisa-5-tahun-ini)

Minister of Tourism and Creative Economy (Menparekraf) Sandiaga Salahuddin Uno revealed the performance of the Key Performance Indicators (IKU) of the Ministry of Tourism and Creative Economy for 2023. It was recorded that the realization of the Indonesian tourism foreign exchange value in 2023 reached US$ 14 billion or the equivalent of IDR 218.4 trillion (exchange rate IDR 15.600). This was conveyed by Sandiaga in a Joint Working Meeting with Commission X DPR RI. From this figure, the performance achievement for foreign exchange value reached 197.74% or far exceeded the target which was only in the range of US$ 7.08-9.99 billion. However, this data is still temporary and not final.

“We can say that tourism foreign exchange reaches US$ 14 billion. GDP contribution is already 3.9%,” said Sandi, quoted from the TVR Parliament live YouTube broadcast, Wednesday (13/3/2024).

Furthermore, the realized export value of creative economy products in 2023 was recorded at US$ 23.96 billion or IDR 373.77 trillion. Its performance achievement has only reached 88.91% or has not succeeded in exceeding its target of US$ 26.95 billion. Even so, the added value of the creative economy posted extraordinary growth. The added value of the creative economy reached IDR 1,414.77 trillion or 110.44%. This amount exceeds the previous target of IDR 1,281 trillion.

“This is a fantastic figure showing that the creative economy is the locomotive of Indonesia’s economic future,” he said.

Meanwhile, the number of foreign tourists also exceeded the original target of 6-8.5 million visits and has now reached 11.68 million visits with a performance achievement of 194.67%. Meanwhile, for the number of domestic or local tourists, based on temporary data until November 2023 the figure reached 749.11 million trips. This figure is only 62.43% of the target of 1.2-1.4 billion trips.

“We also hope that this will continue to increase while we improve the calculation of the movement of domestic tourists so that it is in line with the targets set,” he said.

Sandiaga further said that the Travel and Tourism Development Index (TTDI) ranking had succeeded in reaching the target, namely in the range of 29-34. Then the number of tourism workers succeeded in exceeding the target of 23 million people and has now reached 24.42 million people. Then the creative economy workforce reached 24.92 million, also exceeding the target.

“In total, almost 50 million workers are produced by our tourism and creative sector,” he added.

Sandiaga said, of the total of 9 main performance indicators that have been mentioned, there are some that are still simple data. Then there are also those who are still very far from the target set for 2023, namely the number of domestic tourist movements.

“Of course, we have to look at this again in detail because the 2023 foreign tourist travel target is 1.2-1.4 billion trips, so it has almost doubled. And if we look at the achievements, it is still very far away, even though the number of movements realized “This foreign tourist attraction has exceeded the target compared to the previous one, namely around 113.5%,” he concluded.

March 13, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7239146/ri-raup-devisa-pariwisata-di-2023-rp-218-t-sandiaga-fantastis)

Indonesian furniture and handicraft products have long been known and have attracted attention from local buyers to various countries. This is proven by the large number of buyers at the Indonesia International Furniture Expo (IFEX) 2024 exhibition. The international exhibition, which was held from 29 February to 3 March 2024, attracted 13,730 international buyers from 117 countries in the world. IFEX 2024 recorded on-site transactions of US$ 300 million or IDR 4.6 trillion (exchange rate IDR 15,494).

The countries with the most buyers are Europe, Australia, China and the United States, as well as additional developing countries such as India, Bahrain, Oman and the United Arab Emirates.

“We see the transactions that occurred during the exhibition as a realization of the positive economic growth target that we mentioned at the beginning. In the midst of current global economic conditions, these results prove that our furniture industry is able to make a significant contribution to the national economy,” said the General Chair of the Industrial Association Indonesian Furniture and Crafts (HIMKI), Abdul Sobur in his statement, quoted on Saturday (9/3/2024).

He is quite confident that next year the IFEX exhibition will again attract more participants and buyers. IFEX 2025 will be held again next year on March 6-9, 2025.

On this occasion, Sobur also reiterated the importance of the government’s role in supporting the anti-export policy of furniture raw materials, including rattan. “This is an effort to maintain the availability of our raw materials and ensure that our industry will continue to grow and develop,” he said.

It cannot be denied that the skilled hands and high creativity of Indonesian craftsmen are able to make very unique furniture and craft products from quality materials. Like the wood products from Bantul which provide TV table furniture, cupboards and mirrors from 3 types of wood, namely mango, suar and mindi which come from Klaten because they are famous for their strength and seem more natural, this product has penetrated the Australian and European markets.

Then the Lukis Chair rattan chair is part of the collection from the Cappellini furniture brand in Italy because it is minimalist and eccentric. As well as lots of distinctive shaped furniture such as bedroom lamps, hand-painted porcelain flower vases, sofas and others. The consistency of craftsmen in prioritizing the quality of their products is the attraction of Indonesian furniture and craft products so that they are popular with local and international visitors.

Based on exhibition experience in previous years, IFEX organizers released data that during the exhibition, products made in Indonesia were not only sought after by buyers from various cities in Indonesia, more than 30% of buyers came from France, Italy, England, Korea, Singapore, India, and other countries including America.

March 9, 2024, detikFinance

(https://finance.detik.com/industri/d-7233748/mebel-ri-laris-diborong-eropa-as-hingga-rp-4-6-t)

The United States Trade and Development Agency (USTDA) provided grant funds of US$ 2 million or the equivalent of IDR 32 billion (exchange rate IDR 16,000) to the Republic of Indonesia for the development of the Archipelago Capital City (IKN). USTDA has held a workshop with the IKN Authority on Monday to Wednesday, March 4-6, 2024. USTAD Director Enoh T. Ebong said that his party provides support for the sustainable development of IKN.

“USTDA is committed to providing grant funds amounting to US$ 2 million in the form of technical assistance, technical specifications, procurement documents, and strategies to develop cities with smart, sustainable and green infrastructure,” said Ebong, in a written statement, quoted Friday (8/ 3/2024).

USTDA also ensures that its assistant will use a green and environmentally friendly approach. This is in line with the development principles of the IKN Authority.

“We are impressed with the vision and development procedures that OIKN has. Of course, in every collaboration we build in infrastructure development projects, we always consider environmental, social and human aspects through studies we have carried out previously,” he said.

On the same occasion, the Head of the Archipelago Capital Authority (IKN), Bambang Susantono, appreciated the collaboration that had been established with USTDA. According to Bambang, to build a smart city like Nusantara, it is necessary to have partners who have the latest technology.

“As time progresses, the technology we use will be abandoned. Therefore, collaboration with the United States through USTDA will not only develop business and academic networks, but also in terms of technology,” said Bambang.

Deputy for Green and Digital Transformation of the IKN Authority, Mohammed Ali Berawi, added that IKN is opening up the widest possible forms of investment for investors with the principles of green, smart and sustainable development in the archipelago.

“We open investment priorities for investors who have smart technology ownership and green commitment. This includes smart governance, transportation and mobility, smart life, natural resources and energy, smart industry and human resources, as well as smart environment and infrastructure ,” explained Ali.

March 8, 2024, detikFinance

(https://finance.detik.com/infrastruktur/d-7231544/as-hibahkan-rp-32-miliar-ke-proyek-ikn)