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Indonesia's Jokowi Considers Delaying Capital Transfer from Jakarta to Nusantara: Report

Indonesia's Jokowi Considers Delaying Capital Transfer from Jakarta to Nusantara: Report
Indonesia's Jokowi Considers Delaying Capital Transfer from Jakarta to Nusantara: Report


Indonesian President Joko Widodo has indicated that plans to move to his new capital this year could be delayed, Bloomberg Technoz reported Tuesday.

A presidential decree that will designate Nusantara, the name of the new capital being built from scratch in the middle of Borneo's jungle, could be issued before or after October depending on the situation on the ground, Technoz said, citing Jokowi, as the president is better known.

“We don't want to impose something that is not ready. Don't force it. We need to assess the progress on the ground,” Jokowi was quoted as saying in the report.

The delays in moving to the new capital will heighten skepticism about the realization of the real estate project, especially since it has yet to attract foreign investors. Despite various incentives offered by the government, the new capital has only attracted 49.6 trillion rupiah ($3 billion) in total investment, all from local companies and state institutions.

City officials said national funding could only cover 20 percent of total costs.

View of the construction of Indonesia's new capital, Nusantara, in Sepaku, East Kalimantan province, Indonesia, in March 2023. Photo: Reuters

Jokowi’s remarks also mark a departure from his optimism of just a month ago, when the Indonesian leader said he planned to start work on the new capital as early as July. They also come a month after the resignation of the head and deputy of the agency overseeing the development, creating further uncertainty about the project’s completion.

Construction of Nusantara includes five phases and the project is expected to be completed by 2045. By then, the government plans to relocate about 1.9 million people from the current capital Jakarta to ease congestion.

Bloomberg Technoz is a partnership between Mayapada Groups PT Berita Mediatama Indonesia and Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News.




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