For starters, it's a long, long way from being finished. Although Widodo began working from the city two weeks ago, many estimates say the new capital won't be fully operational until the 2040s. Most of the core infrastructure is unfinished while many key projects have not been started yet. Construction delays have been a constant problem. Located deep within the jungle on the island of Borneo, known as Kalimantan in Indonesia, it remains a mass of construction sites. The cost has been estimated at around $35 billion (€31.76 billion) but the government's plan is for private investment to fund around 80% of that total amount. The country's finance minister Sri Mulyani told DW's recent Business Beyond program on Indonesia's economy that the government had spent 72 trillion Indonesian rupiah ($4.5 billion, €4.08 billion) on Nusantara over the past three years. She added that the key to financing it is establishing meaningful incentives for private investors, including significant tax breaks. Recently, Widodo announced that investors would have land rights for up to 190 years in the capital.
#OIDW #DWVideos #Nusantara #IndonesiaCapital #NewCapital #ConstructionDelays #Kalimantan #BorneoProject #Widodo #PrivateInvestment #CapitalCity #InfrastructureChallenges #InvestmentIncentives #FinanceMinister #SriMulyani #NusantaraCost #IndonesiaEconomy#oneindianews #oneindiaenglish #breakingnews
#worldnews #englishnewslive #englishnews #latestnews #news
~HT.97~PR.152~ED.101~
----------------------------------------------------------------------------------------------------------
Welcome to OneIndia. Catch the latest news and updates here, from India and the world. Our team ensures a wide-spectrum coverage. From the corridors of power to the thrill of sports. From engaging live shows, to hosting insightful guests. A dash of entertainment and a dollop of Trendy Tales.
Stay connected, Stay informed with OneIndia.
Youtube: [ Ссылка ]...
Like us on Facebook: [ Ссылка ]
Follow us on Instagram: [ Ссылка ]
We are there on Twitter: [ Ссылка ]
