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President Jokowi Presents Investment Opportunities for Indonesia’s New Capital City to Brunei Business Consortium

Brunei Darussalam, January 14, 2024, The Europe Today: Indonesian President Joko Widodo (Jokowi) has actively promoted investment opportunities in the development of Indonesia’s new capital city, Nusantara, during a meeting with a consortium of investors in Brunei Darussalam.

Emphasizing Nusantara as a strategic agenda integral to the 2045 Golden Indonesia mission, President Jokowi highlighted parliamentary approval and the enactment of associated laws with a resounding 93 percent support.

The new capital, designed as a smart forest city, allocates 70 percent of its area to green spaces and relies on 80 percent green-energy-based public transportation, showcasing Indonesia’s commitment to environmental sustainability. President Jokowi shared that core development progress has reached 70 percent and is on track for completion by mid-2024. Notable groundbreaking events for various projects, including hospitals, hotels, malls, and green transportation initiatives, underscore the momentum.

Encouraging Brunei businesspeople to invest in Nusantara, President Jokowi outlined government incentives such as super tax deductions, tax holidays, and import duty exemptions. The meeting culminated in the consortium submitting a Letter of Interest, signaling potential collaboration in the transformative venture. Accompanying President Jokowi were key officials, including Foreign Affairs Minister Retno Marsudi and State-Owned Enterprises Minister Erick Thohir.