Indonesia seeks foreign investors as Nusantara development goes underway

The first phase of construction is expected to be finished in 2024; work will start in the second half of 2022

In lieu of developing a new capital, Indonesia is currently wooing foreign investors over the past month. On 3 June, Bambang Susantono, head of Nusantara authority, met with former British prime minister Tony Blair in Jakarta, in the hopes that Britain can get on board in developing the new capital. Blair has been invited to visit Kalimantan in September to see the progress of Nusantara’s construction.

During his visit to the Netherlands, Luhut Binsar Pandjaitan, coordinating minister for maritime affairs and investment, invited the Dutch government and key players to invest in the new capital. Through a blended finance programme, he proposed investing in green economy upon meeting up with Mark Harbers, the Dutch infrastructure and water management minister, according to Xinhua.

“Indonesia and the Netherlands have long historical connections, thus this (more investment) will strengthen our bilateral cooperation,” Pandjaitan said in a press statement released early Friday.

More: New Indonesian capital ‘Nusantara’ unveils opportunities for property investors

In June, Ann-Mari Kemell, the Finnish State Secretary to the Minister of Economic Affairs, and the Presidential Chief of Staff Moeldoko met in Jakarta, as Finland had shown interest in assisting Indonesia in making the new capital city green and environmentally friendly.

Finland is establishing itself as one of the leading European nations in the creation of smart cities by utilizing its expertise in creating homes that reflect 21st-century design trends, according to ASEAN Briefing.

The first phase of construction is expected to be finished in 2024; work will start in the second half of 2022.

The last phase of Nusantara’s development is planned to be completed by Indonesia’s centennial in 2045, when it hopes to become a developed country, as the government wants to create a sustainable and inclusive city.

The Property Report editors wrote this article. For more information, email: [email protected].