Yuliot cited that foreign investment in the new capital has already entered the licensing process. However, he declined to specify the names of the investors.

"Foreign investments in renewable energy have started. They are preparing for the implementation of their investment activities and are currently in the licensing stage," Yuliot said after the swearing-in ceremony of state officials at the Merdeka Palace in Jakarta on Thursday, July 18, 2024.

According to Yuliot, this development is more significant than the submission of Letters of Intent (LoI), which express interest from various foreign investors. As of July 12, 2024, the IKN Authority has received 421 LoIs from both foreign and domestic investors.

He also mentioned that the mega project of the new capital is a priority program for President-Elect Prabowo Subianto. The current administration under President Joko “Jokowi” Widodo is focused on completing the infrastructure and supporting facilities in the Central Government Core Area (KIPP) using the state budget (APBN).

"IKN is also a priority. The core area is being prepared by the government, and other clusters will need increased investment," Yuliot said.

Meanwhile, President Jokowi is focused on preparing the infrastructure to support the series of events for the 79th Independence Day celebration at the IKN Presidential Palace. The celebration will be led by Jokowi and attended by President-Elect Prabowo Subianto.

Jokowi emphasized that only 15 percent of the total IKN project infrastructure and supporting facilities will be ready by August 17.

"This still requires investment from both domestic and foreign sources," Jokowi told a press conference at the Halim Perdanakusuma Air Base in East Jakarta on Tuesday, July 16, 2024.