Two Russian Companies Express Interest in Investing in IKN Nusantara

Two Russian companies specialising in smart cities, have submitted letters of intent (LoI) to the Nusantara Capital Authority (OIKN).

IDXChannel - Two Russian companies specialising in smart cities, have submitted letters of intent (LoI) to the Nusantara Capital Authority (OIKN).

It is the first step for these companies to invest and participate in the development of the Nusantara Capital City.

The submission, facilitated by the Indonesian Embassy in Moscow with support from OIKN, Indonesia Investment Coordinating Board (BKPM) and the Russian Trade Representative in Jakarta, was delivered directly to OIKN's Director of Investment and Ease of Doing Business, Indra Yuwana and witnessed by the Deputy Chief of Mission (DCM) of Indonesia to the Russian Federation and Belarus, Berlian Helmy.

"The Indonesian Embassy in Moscow continues to strive for companies from Russia and Belarus to take part in the development of the archipelago. The archipelago is the future of Indonesia," said the DCM in a media release, Tuesday (5/12/2023).

Previously, the Russian delegation had conducted a field visit to the archipelago and witnessed first-hand the development, which has made much progress. The various points inspected included the zero point, viewing tower, camping site, as well as main government buildings, namely the state palace and offices of ministries and institutions.

In addition to the on-site review, the delegation also held a meeting with representatives of the Ministry of Investment/BKPM. During the meeting, both companies reiterated their seriousness to invest in Indonesia. 

The visit concluded with the participation of the Indonesian Embassy in Moscow and the Russian delegation at the business forum "Moscow-Jakarta: The Future of Cities" initiated by the Moscow City Government. The forum aimed to strengthen economic cooperation between the two countries by emphasising the exchange of best practices, especially on how to invest in Indonesia.

The forum was attended by more than 100 participants from Russian and Indonesian businesses. The forum is expected to serve as a platform to expand business networks between the two countries and as a catalyst for business-to-business contact. (WHY)