Indonesia’s President Joko Widodo (left) and Singapore’s Prime Minister Lee Hsien Loong (right) shake hands during a joint news conference at The Istana in Singapore on March 16, 2023 (Photo: EPA)Jakarta (VNA) – Indonesian President JokoWidodo brought home letters of intent from investors interested in thenew capital of Nusantara after his trip to Singapore on March 16.
Aside from the letters of intent on Nusantara, nine memorandum of understandings (MoUs) for a business-to-business (B2B)cooperation in the healthcare and digital field, as well asseven government-to-government MoUs also related to healthcare, digitalfield, and green energy.
The President said that the country is planning to host aforum in May to woo investors to help build the new capital. According to Singaporean Prime Minister Lee Hsien Loong,Singaporean firms will be in attendance.
The government datashowed Singapore invested 10.54 billionUSD in Indonesia, accounting for 31.56 % of the total foreign direct investmentin 2022, making Singapore now Indonesia’s largest foreign investor.
The government estimated that it would take 466trillion IDR (30.3 billion USD) to build Nusantara, of which 80%of the funding will come from public-private partnerships and directinvestments.
Overall, Indonesia have 20 letters of intent from theSingaporean private sector to invest in Nusantara./.
