Japanese Business Association Observes New Capital City Development

JAKARTA, KOMPAS.com - The Indonesian Nusantara National Capital Authority (OIKN) along with the Public Works and Public Housing Ministry accompanied the Japanese business community visiting the country’s new capital city development in the province of East Kalimantan on Borneo island on April 1.

"This is a positive signal following a response from the market study conducted by the Indonesian government to Japan at the end of February," Deputy of Financing and Investment for OIKN Agung Wicaksono said in a statement issued by the OIKN Secretariat.

The Building Center of Japan Senior Advisor, Japan Bank for International Cooperation (JBIC) and former Special Advisor to Prime Minister, Hiroto Izumi, along with Japan's Ambassador to Indonesia Kenji Kanasugi, led a delegation from the Japan International Association for the Industry of Building and Housing (JIBH), a Japanese business association in the construction and housing industry, to directly observe the progress in development and potential investment opportunities in the new Capital.

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During the visit, the Japanese delegation had the opportunity to observe the progress in the development of IKN.

They were taken to observe the progress in the construction of the Sepaku Semoi Dam, the Nusantara Zero Point, the Presidential Palace, and the Housing for Construction Workers, the statement said.

"As often stated by the Head of OIKN Bambang Susantono, seeing is believing. By observing the progress of development directly, Japanese investor delegations can see that development is continuing," Deputy Wicaksono said.

"So, there is trust because building investor trust is most important," he said.

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Furthermore, Deputy Wicaksono highlighted that Hiroto Izumi had penned down the words "great job" on the testimonial page.

According to Wicaksono, this is important to build market trust. Hence, he is optimistic that the Japanese business association's visit will be followed up.

At a dinner event, the Advisor of Japan’s Prime Minister, Hiroto Izumi, expressed hope that the development of IKN Nusantara would become a mega-project for Japanese investment after the MRT and Patimban Port projects.

The event also saw the participation of the relevant Indonesian officials.

Source: State News Antara