President Joko Widodo flew to the UAE to persuade investors to put their money in Nusantara.
While the US$35 billion construction of Nusantara will not cease, it is likely that the pace of it will be adjusted.
The sales pitch came after Mr Widodo, or Jokowi, announced on July 8 that he would be postponing the relocation of his office to Nusantara, originally planned for that month, due to missed deadlines for some critical infrastructure. The arrangement, announced in June, was that Mr Widodo and President-elect Prabowo Subianto would together preside over a ceremony in Nusantara, while Vice-President Ma’ruf Amin and Vice President-elect Gibran Rakabuming Raka would lead one in Jakarta.
Meanwhile, the October swearing-in ceremony for Mr Prabowo and Mr Gibran will be held in the Senayan legislative complex in Jakarta, instead of in Nusantara as previously announced. Some, like Dr Irman G. Lanti from the Padjadjaran University in Indonesia, said there are significant development backlogs, and it will take longer than initially planned for the city to function fully as the nation’s new capital. Officials have said Nusantara will take about two or three decades to complete.
Another factor is the lack of funding. Private companies have not been biting, and in the hopes of boosting investment, Mr Widodo signed a new law in mid-July that will allow investors to apply for land right permits of up to 190 years. Previously, there was no such law allowing investors to have long-term land rights.
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