President Joko Widodo Secures IDR7 Trillion Investment for Nusantara from Brunei

Author: Andree Nizar
January 15, 2024

President Joko Widodo Secures IDR7 Trillion Investment for Nusantara from Brunei. Photo : Dok. Sekretariat Presiden

SEAToday.com, Bandar Seri Begawan - President Joko Widodo received an investment for the Capital City of the Archipelago (IKN) from a consortium of Brunei investors worth USD300-450 million or around IDR4-7 trillion. The investment commitment was conveyed by Pengiran Anak Putri Hajjah Amal Rakiah, the younger sister of Sultan Hassanal Bolkiah, when leading a delegation of investors to meet President Jokowi at the Assaara Guest House in Bandar Seri Begawan, Saturday (13/1).

Indonesian Ambassador to Brunei Achmad Ubaedillah said that the written investment commitment in Nusantara was handed over by Princess Amal Rakiah to Head of the Nusantara Capital Authority Bambang Susantono, witnessed by President Jokowi. Ryada Holding Investment Group Company as the Investment Consortium has signed a Letter of Intent (LoI) for two housing projects worth 4-7 trillion rupiah.

President Jokowi appreciated the commitment of the Investment Consortium to invest in Nusantara. The President also invited the investors to see firsthand the progress of the Nusantara development.