Teuku Faizasyah, the newly appointed Indonesian Ambassador to Norway, expressed his commitment to strengthening bilateral economic ties between Norway and Indonesia. Additionally, he plans to attract Norwegian investments into Indonesia's ambitious new capital city project, Nusantara, located in East Kalimantan.

President Joko "Jokowi" Widodo recently appointed Teuku Faizasyah, who also serves as the accredited ambassador to Iceland, as Indonesia's envoy to Norway. Faizasyah stated that political relations between Norway and Indonesia are generally amicable, enabling him to prioritize building a robust economic partnership during his tenure in the Nordic nation.

In line with existing cooperation in energy transition and forest management, the diplomat emphasized the importance of ensuring seamless progress in these areas. Furthermore, Faizasyah aims to continue the efforts initiated by his predecessor, Todung Mulya Lubis, in enticing Norwegian investment into the development of Nusantara.

To attract investments to the ambitious project, Faizasyah revealed discussions about potential collaboration with Norway's sovereign wealth fund. Norway's Government Pension Fund Global holds the title of the world's largest sovereign wealth fund, with assets valued at an impressive $1.37 trillion.

Notably, Indonesia-Norway trade already showed promising growth, reaching $405.9 million throughout 2022. The bilateral trade in the first five months of 2023 further surpassed those figures, amounting to $441.3 million.

During a visit to Oslo in June, Foreign Affairs Minister Retno Marsudi announced Norway's commitment of $250 million in climate financing under the Just Energy Transition Partnership (JETP). The JETP, with a total package of $20 billion for Indonesia, brings together various wealthy nations and financial institutions as donors.

These investments aim to facilitate Indonesia's shift away from coal-fired power generation. Moreover, Indonesia and Norway have signed a memorandum of understanding (MoU) concerning emission reduction from forestry and other land use (FoLu), further solidifying their cooperation in addressing climate-related challenges.