Indonesia seeks financing for new capital city Nusantara, but investors are hesitant

Nusantara, Indonesian President Joko Widodo's flagship project, is envisioned as a green, smart city spanning nearly 260,000 hectares to replace the current overcrowded, rapidly sinking, polluted capital, Jakarta.

In March, the Indonesian government revealed a raft of new incentives to try to lure investment in the project. Despite those incentives, there are still no guaranteed investments in the new capital city, according to Sulfikar Amir, an associate professor from NTU Sociology Programme. Dr Amir, who has been following the capital city project closely, said there were several reasons investors could be hesitant, including a lack of clarity on how backing the project might pay off.

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