Indonesia’s ambitious $33 billion capital relocation plan is facing turmoil as the new capital city of Nusantara is set to open next month. Jakarta, the current capital, is sinking at an alarming rate, prompting the government to move the capital 800 miles away from the island of Java.
However, with investors pulling out and project heads resigning, the future of Nusantara remains uncertain. The city, which was meant to be a symbol of Indonesia’s progress and development, now risks squandering the country’s funds and damaging its reputation on the global stage.
The challenges in construction have been numerous, with little progress made on the infrastructure needed to support a capital city. Geopolitical criticism has also been mounting, with concerns about the environmental impact of building a new city from scratch and the displacement of local communities.
As the opening date approaches, the future of the project hangs in the balance. Will Nusantara be able to fulfill its promise as Indonesia’s new capital, or will it become a cautionary tale of overambitious megaprojects? Only time will tell.
Watch the video by The Wall Street Journal
Video “Indonesia’s $33B Capital Relocation Plan Is Imploding | WSJ Breaking Ground” was uploaded on 08/02/2024 to Youtube Channel The Wall Street Journal