Indonesia, Malaysia agree on investment cooperation to develop future capital city Nusantara

Anwar Ibrahim and Jokowi
(Source: Setpres)

Jakarta, IO – Indonesia’s new administrative capital is to be built in East Kalimantan province. Malaysia’s involvement in the project was announced by President Joko Widodo after his meeting with the visiting Malaysia Prime Minister Dato Sri Anwar Ibrahim on Monday (9/1).

The agreement was outlined in 11 Letters of Intent (LOI), reported Merdeka on Tuesday (10/1).

“I welcome the interest of Malaysian investors in the development of Indonesia’s new administrative capital Nusantara,” Jokowi said.

The 11 LOIs were signed by the Malaysian private sector and handed over the Nusantara authorities. They include investment pledges ranging from the sector of electronics, waste management, to health.

“In addition, there are several MOUs on shipping, export-import financing, green energy, development of the battery industry, et cetera,” said Jokowi.

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Anwar Ibrahim said besides the Malaysian government’s openness to potential cooperation to develop Nusantara, the country also sees economic opportunities and Malaysia’s own interests, especially the Borneo states of Sarawak and Sabah, in the success of Nusantara. (un)