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00:00The government has reaffirmed its commitment to continue the development of infrastructure and support services in the capital city of Nusantara.
00:28President Prabowo Subianto targets that IKN will become the capital city in 2028.
00:39The Minister of Infrastructure and Development of Agus Harimurti Yudhoyono stated that President Prabowo Subianto has reaffirmed the government's commitment to continue the development of the capital city of Nusantara in East Kalimantan.
00:55Even now, the president has agreed to the budget for the construction of the second IKN in 2025 to 2029, worth Rp 48.8 trillion.
01:07Agus Harimurti added that the construction of the IKN will be continued by following the timeline and stages that have been set.
01:15Where in the first stage of 2022 to 2024, there is already 100% and ongoing infrastructure.
01:23There is a focus on construction in the central government area and is expected to be continued and expanded in the second stage, which is 2025 to 2029.
01:34President Prabowo Subianto has reaffirmed the government's commitment to continue the development of the second IKN in 2025 to 2029, worth Rp 48.8 trillion.
01:50Once again, it will be divided into stages that must be strictly controlled.
01:57It is clear that the budget will be allocated so that we, especially the IKN, can complete the construction of facilities or buildings used for parliament, legislative and judicative.
02:19Meanwhile, the head of the authority of the capital city of Nusantara, Basuki Hadimulyono, stated that President Prabowo set the target for the IKN to become a political capital in 2028.
02:32The second stage, this is the most important, he has a target that in 2028 it has been targeted to become a political capital.
02:44So we are tasked to complete the judicative ecosystem, so the offices and offices, and also the legislative ecosystem, so the offices and offices.
03:03The government reaffirmed the budget for the construction of the IKN, some of which are sourced from APBN and non-APBN.
03:12This is a form of good cooperation between the government and the business community.
03:17In addition, the government also hopes for the involvement of the private sector in a positive and well-integrated way.
03:33Yes, Mr. Mirso, to discuss our interesting topic this time, the continuation of the construction of the capital city of Nusantara,
03:40is already present with me in the IDXNL studio.
03:43He is Professor Aryawan Gunadi, an expert in business law and international trade at Taruma Negara University.
03:49Hello, Prof, how are you?
03:51How are you?
03:52Thank you for your presence.
03:54Okay, and for the next one, it has been connected via Zoom, Mr. Yayat Supriyatna, an observer of the city from the University of Trisakti.
04:02Hello, Mr. Yayat, how are you?
04:04Hello, Mr. Pras, how are you? I'm good.
04:07Thank you for your time.
04:09This is interesting, Prof, if we look at how the construction of the capital city of Nusantara,
04:14it is still in the hands of the public.
04:17But before discussing further, I would also like to ask you to review first the process of the construction of the capital city of Nusantara.
04:24Yes, thank you, Mr. Pras and Mr. Mirso from IDX.
04:27So, if I'm not mistaken, on January 21, 2025, the head of the capital city authority, Mr. Basuki, reported to President Prabowo
04:35about the development of the construction of the capital city of Nusantara.
04:39One of them is the construction of the IKN tower for ASN in the capital city of Nusantara, which is scheduled to be completed in March 2025.
04:48And this is in accordance with Mr. Ahaye's explanation,
04:53the allocation is around 48.8 T for the next five years, which is half of the first stage of the construction of the capital city of Nusantara.
05:02Of course, there are challenges, even though facilities are being built,
05:07such as the airport and the international airport of Nusantara, which is already in the finishing stages.
05:13But we know that yesterday there was a flood.
05:16Of course, the obstacles are still there.
05:18So, for a realistic target for 2028 to become the capital city of Nusantara,
05:24in my opinion, it is a capable target, not too aggressive like the previous one.
05:30But overall, there will be challenges related to foreign investment as well as domestic investment to support our future IKN.
05:42Mr. Yayat, from your point of view, how is it related to the construction of the support infrastructure for the capital city of Nusantara,
05:52which is currently still in the process and will be continued as agreed by President Prabowo?
05:59This is how it is, Mr. Prahas.
06:01We are building a city.
06:03The city has just been built.
06:05It means that if we build a model like SPBU, it starts from scratch.
06:11It means that it starts from the early stages.
06:14The infrastructure is not yet open.
06:16What is now being pursued is to form the city structure first.
06:21It means that the formation of the city structure, the initial form must be formed so that people are sure that the IKN is there.
06:28If the structure is not yet formed, the face is not yet formed, people will ask, where is the capital city?
06:34This is the most difficult task.
06:36Because building the face of the city from scratch with a large budget is not much different from building new cities around Jakarta.
06:45We have seen cities around Jakarta, new cities such as BSD, Alam Sutera, and so on.
06:51It's all purely private investment to sell it.
06:55What makes it different is that the new cities around Jakarta, the concept of the city is for a more business-oriented context.
07:06But the IKN is a government function.
07:09The difference between selling a government city with a business city will definitely be different.
07:16Because people will see, first of all, from the attractiveness.
07:18The most difficult task here is the establishment of the function.
07:26Because it's okay, the city has economic functions, government functions, health functions, industries, and so on.
07:33Where does the IKN start from? Government functions.
07:36This becomes a debate. Why?
07:39How big is the government function if it is built with the ASN captive market?
07:45The IKN will definitely be a debate.
07:48Unless suddenly in that area, it is supported by the development of the industry, business, and so on.
07:55If you look at the process as a whole, it can be said that what is currently being built is being kept.
08:01The government's core area.
08:03There is a neighboring area in the WP2 area, which is the western region, which is business development.
08:11Actually, there are already some interested investors.
08:15But everyone is waiting for this city to exist and function.
08:21Because the hardest part of building a city is to build its ecosystem.
08:26The ecosystem is not yet formed.
08:28It's just a few roads, buildings, government offices.
08:31The hardest part will be in the process of reviving the city.
08:35Because the key is in the ASN.
08:38Especially in the middle of the government's super-irritant budget.
08:43With so many restrictions at the beginning of Mr. Prabowo's government.
08:47Indeed, this is the stage of the process.
08:50Because in 2028, we don't know how far the function of the political capital can function optimally.
08:57Okay.
08:58Mr. Ayad, if we look at the private investment,
09:01if it has been said that the ground breaking per September 2024 has reached 58.41 trillion.
09:08Should this investment be made by both foreign and domestic investors?
09:14Is it in line with expectations?
09:16Or is it a challenge like what Mr. Ayad said earlier?
09:19That investors also need to be sure that this city will move according to its function.
09:25Yes, if we look at the marketplace,
09:28I agree that to build a city, it needs an ecosystem.
09:34And it has to form a culture and so on.
09:38That's why if we look at Canberra, Putrajaya,
09:41the location is not too far.
09:44Canberra with Sydney, Putrajaya with KL.
09:47So there is already an ecosystem, there is already a source of power there.
09:52While there, the location of IKN is quite far.
09:55According to the existing data, per September 2024,
09:58the private investment reached 58.41 trillion.
10:05But from the amount required, 2.77 quadrillion,
10:10it is certainly very far from what is needed for investment in IKN.
10:14So this is a really big problem or challenge.
10:18What kind of function does this function want?
10:21As Mr. Ayad said earlier.
10:22Because this function will determine roughly
10:25what the roadmap and grand strategy for this city will be in the future.
10:29The government has been making efforts by issuing several government regulations.
10:34One of them is PP number 12 in 2023 on business license, business facilitation.
10:40It is hoped that it will support foreign and domestic investment for IKN.
10:44Then there is also a regulation issued by the press on 25 April 2024
10:50on the task of accelerating investment in IKN
10:54to accelerate licensing and provide capital planting facilities.
10:58It means that from an economic perspective,
11:01the investment that enters this large infrastructure is actually already supported.
11:05But there is only a function that is maximized and forms the existing ecosystem.
11:10Because this is not easy.
11:12Forming culture is not easy.
11:14So foreign investment is always asked about the resources there.
11:19Because the bigger the resources are,
11:22it will make it easier to accelerate development and so on.
11:25So we hope that IKN will not become a big city, but dead.
11:31It means that we also want to live.
11:34Although the direction is to become the capital of politics or the capital of government.
11:38If we look at Washington DC, it is certainly different from New York, which is the center of business.
11:41But when I was in Washington, I saw that it was shaped.
11:46The center of government is centered there.
11:50Interesting.
11:52Next, we will enter stage 2, 2025-2029.
11:56And the planting has already reached Rp 18.8 trillion.
11:59We will discuss later in the next segment, Prof.
12:01Mr. Eyad, we will take a short break.
12:03Mr. Mirsa, make sure you are still with us.
12:34In the next segment, we will provide data for you,
12:37related to the stages of IKN's development.
12:38This is about the time from 2022 to 2029.
12:42This is the first stage, we see from 2022 to 2024,
12:45the funds that have been spent from the State Budget are Rp 89 trillion.
12:49For the development of toll roads, there are 47 towers, office buildings,
12:53secretariat offices, then there is a prayer center,
12:56drinking water facilities, sanitation, embung, and also a retention pool.
13:00There is also a project from the KPBU,
13:01the government and business cooperation is Rp 58.41 trillion per September 2024.
13:08This project consists of several projects that have been completed,
13:11some are still in progress, and also the design process.
13:15Next is stage 2, we will see 2025-2029,
13:19which has been agreed by the President himself, Rp 48.8 trillion.
13:24The plan for the construction of legislative and unicative buildings,
13:27along with its supporters, then road access to the IKN,
13:31infrastructure maintenance is also used from the funds earlier,
13:35and we see that there is a KPBU project worth Rp 60.93 trillion,
13:40to build 97 apartment towers, 129 apartment buildings,
13:45there is also a 138.6 km utility tunnel in the IKIPP,
13:51and also the next PLTS development,
13:53because there was already one that was built around 50 MW.
13:58Groundbreaking, stage 9 is also planned this year,
14:01worth Rp 6.49 trillion for the construction of housing,
14:05there are hotels, retail, and offices,
14:08while the target itself in 2028 is the capital.
14:11Next is the target of economic growth and investment,
14:14from the current government, 2025-2029,
14:188%, while the expected investment realization is also higher,
14:25from Rp 1,650 trillion in 2025,
14:28increased to Rp 2,969.64 trillion in 2029.
14:35This is a challenge that is quite interesting for us to discuss.
14:38Let's continue the discussion with Professor Aryewan Gunadi,
14:41Associate Professor of Business and International Trade
14:44at Tarumanagar University,
14:45then there is Mr. Yayat Supriyatta,
14:47Vice President of the University of Terisakti.
14:49Professor, if we look at some of the stages that have been mentioned,
14:53then 2028 becomes the capital of politics,
14:57the biggest challenge that may have to be faced,
14:59remembering that many parties hope to be realized soon,
15:02while the process that has been mentioned,
15:04Mr. Yayat, is also not a moment to build a metropolitan area,
15:08or even this is the capital of the country.
15:10Yes, so if the government's commitment to build the second stage,
15:15has been done,
15:17from 2025 to 2029,
15:20it has become a commitment.
15:22However, to become the capital of politics for the future,
15:26it needs a challenge itself.
15:28What I said earlier,
15:30for example, when I went to Washington, I saw in New York,
15:33of course the situation is different.
15:35Washington has been set up for about 10 years,
15:38and everyone also acknowledges, everyone admits,
15:40and it is used as a foundation in making strategic decisions.
15:44So indeed, this is what we will see,
15:47how far the constellation will go.
15:49In Canberra, it's the same, right?
15:51With Sydney, it means there is a significant difference.
15:55When you go to Canberra, it's definitely quieter,
15:57compared to Sydney, which is an economic city and a metropolis.
16:01In Putrajaya, it's the same.
16:03Not far from Kuala Lumpur, Putrajaya is not in a very good condition,
16:09because there are many government centers there,
16:11and decisions are made there.
16:13It means we have a fairly long distance
16:17between Jakarta and East Kalimantan.
16:21Because the demographics are also quite different,
16:24the situation is quite different.
16:26This is a challenge in itself,
16:28if this is made the capital of politics in 2028.
16:31Okay, from the development itself, Mr. Yat,
16:34how optimistic are you seeing the next 5 years, 48.8 trillion,
16:37even though there is also the KPPU,
16:38there is also the development of 60.9 trillion,
16:42applied for the next 5 years.
16:45Mr. Pras, we have to remember,
16:48the President's Statement is interesting.
16:50Before I discuss it, what does it mean?
16:54The capital of politics.
16:56If the IKN is the capital of politics,
16:58I think Jakarta will be the capital of the economy.
17:01Okay.
17:03This is interesting,
17:04the implementation of the function of the IKN, the capital of politics,
17:082005-2009,
17:11with the capital in quotation marks, economy.
17:14So it will still make Jakarta
17:16as the center of growth,
17:18economic growth in Indonesia.
17:20Now the question is,
17:22as the capital of politics,
17:24with the budget that has been mentioned earlier,
17:26it looks like that,
17:28in the timeline.
17:30First, the essence is very visible.
17:32What is it?
17:34The construction of a legislative,
17:36unicative,
17:38executive office has been processed.
17:40That's the point.
17:42He tried to build an ecosystem.
17:44If this has been built,
17:46it is accompanied by the construction of houses,
17:49apartments, and other supporters.
17:52So it means,
17:54when the offices are built,
17:56the ecosystem is also built.
17:58What is the meaning of the office,
17:59and now that there is,
18:01ASN wants to move,
18:03it turns out that the house is not ready.
18:05Well, last but not least,
18:07there is an ecosystem supporter,
18:09namely hotels,
18:11then retail,
18:13centers.
18:15So if I look,
18:17in the context of 2005-2009,
18:19for example, the function of government
18:21or the function of politics,
18:23it is on the track.
18:25But in the context,
18:26there are other issues that are too big,
18:28we wait for the future.
18:30Because this is interesting,
18:32when as a political district,
18:34the timeline or timeline that is made,
18:36it really directs
18:38this second prioritization
18:40to build an ecosystem
18:42of government revitalization
18:44supported by ASN.
18:46Now the difference,
18:48I'm sorry,
18:50compared to before,
18:52in the era of Mr. Jokowi,
18:54it seems that in Mr. Jokowi's time,
18:56there was a jump
18:58that wanted to be parallel
19:00between the government
19:02and the economy.
19:04But from the business side,
19:06maybe Prof can give a comment,
19:08the city cannot be parallel.
19:11So what happened yesterday,
19:13yes, groundbreaking,
19:15but when the ecosystem is not there,
19:17it will not move.
19:19So what's interesting is
19:21when the ecosystem is built
19:23as the function of the city,
19:24government and politics,
19:26it starts to develop,
19:28the business side will follow
19:30based on the dynamics that occur.
19:32So the question is,
19:34be careful with groundbreaking
19:36and groundbreaking.
19:38If from the marketing side
19:40to sell an area,
19:42there is a queue,
19:44there are so many.
19:46That's just in the context of
19:48marketing for sales,
19:50but to be executed,
19:52it is impossible to build
19:54and the most interesting PR
19:56is placed on the role of the government
19:58how to push
20:00acceleration, development
20:03by reviving the city.
20:05On the other hand,
20:07in addition to KIP,
20:09there are other WPWP,
20:11there is a WP.
20:13One way is
20:15how to develop other WP
20:17for the development of tourism industries.
20:19Our budget is only focused on KIP,
20:21not yet pushing
20:22to other developments
20:24to revive KIP.
20:26That's the most interesting PR.
20:28Okay, Mr. Iyad.
20:30Very interesting.
20:32How can it be shared?
20:34For example, this is a political statement,
20:36but on the other hand,
20:38there are also several business sectors
20:40in KIP.
20:42We will discuss in the next segment.
20:44Mr. Iyad, we will take a short break
20:46and Mr. Mirza,
20:48we will be back soon.
20:52See you in the next segment.
21:22The ground breaking that has been done
21:24from 1st to 8th,
21:26and this year, the 9th stage,
21:28the development is Hunian,
21:30there are hotels, retail areas, etc.
21:32Yes, so this can't be
21:34as it goes, if I see it.
21:36It means different,
21:38different approaches.
21:40It means what was done
21:42by the previous president
21:44with the current one.
21:46So the approach is
21:48Mr. Prabowo wants to see
21:50everything carefully
21:52so that the partnership
21:54in the future
21:56is not only from the government,
21:58but it must be a partnership
22:00between the government and the private sector.
22:02Because we know that in some places
22:04in the country,
22:06it can run with the support of the private sector.
22:08So there must be a good partnership.
22:10Secondly,
22:12running one system
22:14is not just because of
22:16one infrastructure,
22:18but there must also be
22:19the infrastructure,
22:21the institution,
22:23the rules substantially,
22:25and thirdly,
22:27the culture.
22:29So if the culture
22:31is not formed yet,
22:33it will be difficult.
22:35So that's why
22:37this is a challenge
22:39for the government
22:41how to live
22:43not only in the private sector,
22:45but also the environment
22:47or the surrounding areas.
22:49Living in the surrounding areas
22:51will make it easier.
22:53Because as we discussed with Mr. Yayat earlier,
22:55we need hospitals,
22:57universities,
22:59or services in the health sector,
23:01and other infrastructures
23:03to create an ecosystem
23:05that is complete in this IKN.
23:07Because if it's just a few,
23:09it won't be formed
23:11until next year.
23:13And let's not forget that there is still Jakarta.
23:15With the current governor and elected representative,
23:16we had a lot of discussions
23:18about what will be done
23:20for the future of Jakarta.
23:22So looking at all of this,
23:24it's impossible for IKN
23:26to become the capital of business.
23:28Of course it will be surrounding
23:30or in the surrounding areas
23:32or in Jakarta.
23:34But to become a government center,
23:36it must be integrated
23:38so that
23:40everything leads there.
23:42Okay, Prof.
23:43So will IKN
23:45still be a donor?
23:47Will it be attractive
23:49to foreign investors
23:51if we look at the future of IKN
23:53and domestic investors?
23:55That's the challenge.
23:57I also talked to
23:59developers who are building.
24:01Some of them, as far as I know,
24:03they got a project
24:05to build an apartment.
24:07So as a CEO,
24:09they also said
24:11they had to wait and see.
24:13They don't dare
24:15to invest too much.
24:17But for the letter of commitment,
24:19letter of intent, they dare.
24:21But until it's executed,
24:23they will see
24:25the political situation at that time.
24:27With a political situation like this,
24:29of course it will
24:31recalculate
24:33how much investment will be made,
24:35how many private contributions
24:37will be made.
24:39That's why
24:40the most important thing
24:42for all of us is
24:44how to guide foreign investors
24:46with ease of business.
24:48In a regulated way,
24:50they also want to spend their funds
24:52for this development.
24:54However, this is a promise.
24:56It means that
24:58when foreigners want to come to us,
25:00there must also be a promise
25:02that this will be a living city.
25:04Because don't let their investment
25:06be in vain.
25:08This is interesting.
25:10In terms of capital,
25:12in terms of infrastructure development
25:14with the 48.8 trillion fund
25:16that has not yet been added by the KPBU,
25:18do you think this will still
25:20be something that will continue to be processed
25:22even though we know the development of the capital
25:24or an area of ​​the city
25:26also takes a little time?
25:28Yes, it's like this.
25:30This fund
25:32will definitely be used
25:34to create
25:36the structure first,
25:38the essence of the city.
25:40The essence of the government center.
25:42So when the face of the city is formed
25:44with this fund,
25:46it will definitely be calculated.
25:48What will be used?
25:50If you look at the list that came out,
25:52it looks like
25:54what the president wants
25:56as the capital of the political capital.
25:58It means that the government ecosystem
26:00was formed there first.
26:02And this started
26:04from the development of the ecosystem
26:06with the function of government
26:08where the budget component
26:10supports the core activities.
26:12Well, how to support
26:14others?
26:16Of course, he hopes for
26:18support from the business sector.
26:20The question is,
26:22who dares to enter?
26:24Who dares to invest
26:26in a city that is
26:28dominated by the function of the government?
26:30Of course, Prof. Aryawan said
26:32he will see
26:34what economy is appropriate
26:36with that support.
26:37The demographic capacity
26:39is also not much.
26:41The essence of the population is
26:43ASN.
26:45Now, how to develop the city forward?
26:48We are waiting for the year 2028
26:50when Mr. Prabowo said
26:52I will have an official office there.
26:54Automatically it becomes a force.
26:56For the city that we build
26:58new cities
27:00to be one of the
27:02investment pull
27:04the competition is two.
27:05Do you want to be a city of tears
27:08or a city of tears?
27:10Okay.
27:12If it becomes a city of tears,
27:14it means there must be a pull.
27:16One of the cities of tears that are built
27:18are new cities
27:20based on industry
27:22between Bekasi, Cikampek, Cibitu.
27:25Those are all tears.
27:27All cities built on the basis of industry
27:29have a very high acceleration rate.
27:32It can be 20%
27:33of the contribution
27:35for PDRB or PDB.
27:37Meanwhile, in the government function
27:39that has been practiced in Jakarta,
27:41the government spending contribution
27:43is between 4% to 5%.
27:45So the rise will be different
27:48if there is a base in the industry only,
27:50the property sector will grow.
27:53Now the biggest task is
27:55this government function
27:57with a growth of 4% to 5%
27:59in the context of the economic contribution,
28:01is it interesting?
28:03Because no matter how much you buy,
28:05it will become a force
28:07with the number of markets
28:09of its inhabitants.
28:11If the industry is extraordinary,
28:13the multiplier is very high.
28:15Now the strategy
28:17is to focus on the government.
28:19So I say if you want to be smarter,
28:21look for a partner
28:23or a consortium or someone
28:25from the investor aspect
28:27who is like
28:29the alter ego of the IKM authorities.
28:31He becomes the shadow.
28:33Interesting.
28:35So there is synergy inside.
28:37Okay.
28:39So there is still a lot of work to be done.
28:41Even though we know that
28:432028 will be a new era of politics,
28:45but on the one hand,
28:47the government must also make another policy.
28:49How to grow the economy
28:51around the IKM
28:53or in the IKM itself.
28:55Thank you very much
28:57for the time, sharing and updates
28:59that have been delivered.