State land provider Badan Bank Tanah collaborates with PT Bank JTrust Indonesia (J Trust Bank) and PT J Trust Consulting Indonesia to develop the Penajam Eco City project in support of Indonesia’s new capital, Nusantara (IKN), East Kalimantan.
The collaboration, marked by the signing of a Memorandum of Understanding (MoU), is expected to bolster economic ties between Indonesia and Japan.
Parman Nataatmadja, Head of the Executive Body of Badan Bank Tanah, welcomed the partnership, highlighting its potential to enhance Indonesia-Japan economic relations.
“We hope that Japan will continue to be a friend who invests in Indonesia, particularly in the land management rights (HPL) held by Badan Bank Tanah. This is in line with our efforts to create inclusive cooperation that provides broader economic benefits for the Indonesian people, especially those in and around our HPL areas,” Parman said as quoted by Antara on Wednesday, June 26, 2024.
The MoU outlines J Trust Consulting Indonesia’s role as Badan Bank Tanah’s partner with the exclusive mandate to introduce and manage Japanese investors interested in investing in the HPL areas. J Trust Bank will provide financial support to these Japanese investors.
The HPL being developed is located in Penajam Paser Utara (PPU) regency, East Kalimantan, part of the Penajam Eco City project. This eco city aims to create a healthy, environmentally friendly, and sustainable urban area. The total land asset managed by Badan Bank Tanah spans 18,758 hectares across Indonesia.
“We aim to create justice in land use and fair economic development in PPU, but we cannot do it alone. Therefore, we are partnering with J Trust Consulting Indonesia and J Trust Bank to invite Japanese investors to invest there and in our other HPL areas in the future. This will create jobs and serve as a beacon for economic growth in Indonesia. Hence, both countries can drive economic progress in Asia,” Parman said.
Badan Bank Tanah is a special agency established by the central government, tasked with ensuring land availability for public interest, social purposes, national development, economic equality, land consolidation, and agrarian reform.
Takeshi Ikeda, President Director of J Trust Consulting Indonesia, said that this collaboration would contribute to Indonesia’s economy and support the development of the new capital. The partnership is also expected to promote economic programs and activities involving Japanese investors.
Widjaja Hendra, Business Director of J Trust Bank, thanked Badan Bank Tanah for the opportunity to contribute to the Penajam Eco City project in PPU, which supports the development of the IKN.
