Fact Check: Mahfud MD Says IKN Hasn't Attracted Investors Yet, Is It True?

Vice Presidential Candidate number three, Mahfud MD, stated that to date, no investors have come forward to support the development of the Nusantara Capital City (IKN).

He made this statement during the second 2024 Presidential and Vice Presidential Debate series, themed "People's Economy, Digital Economy, Finance, Investment, Taxes, Management of the State Budget/Regional Budget, Infrastructure, and Urbanization," at the Jakarta Convention Center on Friday, December 22, 2023.

Mahfud's statement was a response to Vice Presidential Candidate number two, Gibran Rakabuming Raka's statement that not all programs should utilize the State Budget. He cited IKN as an example, claiming it only uses 20% of the State Budget.

"From what we've read, until now, not a single investor has entered. If there are any, please mention them," Mahfud said to Gibran.

Mahfud MD's statement contradicts the report from the Nusantara Capital City Authority (OIKN).

(Read also: IKN Spending Reaches Rp13 Trillion as of October 2023)

Head of OIKN, Bambang Susantono, stated that private investors have already invested in IKN. The investment value reached Rp45 trillion by the end of 2023.

The details are: Rp23 trillion was disbursed for initial physical construction or groundbreaking in September 2023. Then, Rp12 trillion was disbursed for groundbreaking in November 2023. Furthermore, Rp10 trillion will be invested in groundbreaking until the end of December 2023.

He also claimed that 15 more investors are queuing for groundbreaking in IKN by the end of this year.

"In total, at least Rp45 trillion in private investment will accompany what the government has already invested from the State Budget," said Bambang while attending the Pakuwon Jati groundbreaking ceremony in IKN on Wednesday, November 1, 2023.

Furthermore, private sector interest in investing in the new capital city is reflected in the high number of Letters of Interest (LOI). OIKN recorded that it has received more than 300 LOIs to date.

(Read also: Nusantara Capital Authority Receives 304 Letters of Investment Interest, This is the Most Popular Sector)