JAKARTA, Nov 21 — Indonesian Trade Minister Zulkifli Hasan has urged investors from the United States to invest in the new capital city (IKN) Nusantara saying it will become a super hub equipped with industrial areas and strategic trade routes.

Hasan conveyed this while attending the Indonesia-US Business Forum themed “Trade and Investment Opportunities in IKN” at the Consulate General of the Republic of Indonesia in New York on Monday, November 20, reported Antara news agency.

“IKN development is a big project that needs investment and collaboration from various parties. Private investment is available for various sectors, including trade-supporting sectors, such as infrastructure, transportation, and logistics,” he noted in a statement received here yesterday.

Hasan then assured the US investors to not hesitate in exploring trade and investment opportunities in Indonesia since the country’s economic growth remains strong amid uncertain global economic conditions.

According to Hasan, in the third quarter of 2023, the Indonesian economy grew 4.94 per cent annually, with inflation remaining at 2.28 per cent in September 2023.

Furthermore, investment in IKN is expected to encourage economic growth for the benefit of all parties, including the domestic micro, small, and medium enterprises (MSMEs), he remarked.

“The Indonesian Trade Ministry will work continuously with the IKN Authority and all related agencies to realise a new capital city based on economic equality and utilising IKN to create a stronger and advanced trade sector,” he noted.

The minister highlighted that Indonesia’s investment realisation until September 2023 had reached Rp374.4 trillion (RM1.1 billion) and absorbed 516,467 workers in the third quarter of 2023.

He then outlined five main sectors in Indonesia’s investment realisation: the manufacturing sector; pharmaceutical and chemical industry; mining; paper and processing industry; and transportation, warehousing, and telecommunications.

The US private sector has also made big investments in Indonesia, especially in the mining, machinery, and pharmaceutical sectors. In 2022, the realisation of US investment in Indonesia had reached US$3 billion (RM13.9 billion) and was included in the top five countries for investment in Indonesia. — Bernama-Antara