More needed aside from World Bank's US$2.5b, Asian Development Bank US$10b allocations, says Fadillah

JAKARTA, Jan 22 — Indonesia's new President Prabowo Subianto plans to spend 48.8 trillion rupiah (RM13.3 billion) through 2029 to build the new capital city "Nusantara", with a target of relocating the government there by 2028.

JAKARTA, Aug 12 — Indonesia President Joko Widodo held his first cabinet meeting in his planned new capital Nusantara today, as the outgoing leader seeks to reassure investors his US$32 billion (RM142.3 billion) megaproject stays on track before he steps down in October.

NUSANTARA, July 29 — Indonesian President Joko Widodo spent his first night in the eagle-shaped palace of the country’s new capital Nusantara, ahead of official meetings today, as the outgoing leader works to allay fears about the beleaguered infrastructure project.

JAKARTA, June 5 — Indonesian President Joko Widodo said today he plans to start working from the new capital next month amid concerns over the future of the project, following resignations of senior executives overseeing the development.

JAKARTA, June 3 — The head and deputy head of Indonesia’s new capital city authority, who oversee the US$32 billion project, have resigned, the state secretariat minister said today.

BALIKPAPAN, March 19 — Malaysian companies should take advantage of investment prospects in East Kalimantan province, particularly in Samarinda and Balikpapan, close to the upcoming new capital city of Nusantara (IKN), said Malaysian Ambassador to Indonesia, Datuk Syed Md Hasrin Tengku Hussin.

KUALA LUMPUR, Mar 4 — The government has been urged to develop Sabah and Sarawak as the country’s new trade growth centres.

JAKARTA, Dec 20 — Several state government-owned companies from Selangor have shown strong interest to invest in the development of Indonesia’s new capital city, Nusantara, according to investment promotion agency Invest Selangor.

JAKARTA, Dec 20 — The Malaysia External Trade Development Corporation’s (Matrade) latest export acceleration mission to Indonesia has garnered a positive response from the republic’s industry players.

KUALA LUMPUR, Nov 16 — Malaysia should develop its own economic strategy, rather than relying on plans from other countries, said Deputy Minister of Investment, Trade and Industry (Miti) Liew Chin Tong in Parliament today.

LABUAN, Nov 12 — The economic partnership between Indonesia and Malaysia is consistently advancing, marking a significant strengthening of bilateral ties, said Indonesian Ambassador to Malaysia Datuk Hermono.

KUALA LUMPUR, Oct 10 — Prime Minister Datuk Seri Anwar Ibrahim today admitted the border development on the Malaysian side in Sabah and Sarawak has been relatively slow compared to Indonesia, following the relocation of the republic’s capital from Jakarta to Nusantara in East Kalimantan.

JAKARTA, Sept 22 — Construction of the Indonesian presidential office in the new capital Nusantara, on Borneo Island, is now 38 per cent complete, said President Joko Widodo.

KUALA LUMPUR, July 13 — The current cost headwinds in the construction sector remain manageable with softening steel bar prices and a slower increase in cement prices, said MIDF Amanah Investment Bank Bhd.

KUALA LUMPUR, May 25 — The government will continue to facilitate the involvement of local companies in the development of Indonesia’s capital, Nusantara, which is able to offer a wider potential for investment, trade and economic collaboration in various fields for industry players from Malaysia.

TUMPAT, Feb 18 — The Home Ministry (KDN) is currently engaged in finalising the new border crossing between Malaysia and Indonesia following the development of Indonesia’s new capital city, Nusantara, in Kalimantan.

KUALA LUMPUR, Nov 30 — The development of Indonesia’s new capital city Nusantara provides an opportunity for Malaysia and Indonesia to enhance economic ties through mutual collaboration in complementary economic sectors, said the Ministry of International Trade and Industry (Miti).

JAKARTA, Jan 17 — The new capital of Indonesia in East Kalimantan has been named Nusantara, National Development Planning Minister Suharso Monoarfa said during a meeting with the working committee for the new capital city bill today at the Parliament.