Indonesia's new capital city Nusantara has received US$3.5bil in investments, says President Jokowi

Indonesia's President Joko Widodo (centre) and Indonesia's Defence Minister and President-elect Prabowo Subianto inspecting the progress of construction work at the future capital city of Nusantara in Sepaku district in Penajam North Paser Regency, East Kalimantan, before holding the first cabinet meeting in the country's new capital on Aug 12, 2024. - AFP

JAKARTA (Bernama-Xinhua): Indonesia's President Joko Widodo said on Monday that the country's new capital city Nusantara has received 56.2 trillion rupiahs (around US$3.5 billion) in investments.

"As of today, the investment that has already been received for the new capital is 56.2 trillion rupiahs," Widodo said during the first Cabinet meeting held in Nusantara, broadcast on the official online channel.

This figure does not include the state budget used for constructing government buildings and other public facilities.

As many as 55 investors have begun constructing business premises in sectors such as banking, healthcare, retail, energy, hospitality, logistics, and housing.

One of the investors is Prabowo Subianto, a businessman and the president-elect who is expected to take office in October.

"I am optimistic that within four to five years, this city will function even better as the capital of the country," Prabowo said. - Bernama-Xinhua