The involvement of Indonesia's strategic state-owned companies such as Pertamina will strengthen the vision of developing Nusantara into a “forest city” with low carbon emissions, through close collaboration between the government and the business community.
Phase II will be supported by a 48.8 trillion IDR (approximately 2.8 billion USD) allocation from the state budget.
The Indonesian government has allocated 48.8 trillion IDR (2.99 billion USD) for the second phase of developing Nusantara, Indonesia's new capital, for the 2025-2029 period. This represents a notable decrease from the 89 trillion IDR set aside for the first phase in 2022-2024.
The Indonesian Government spent 43.4 trillion IDR (2.69 billion USD) from the 2024 state budget on the development of the country’s new capital, Nusantara, accounting for 97.3% of the 44.5 trillion IDR ceiling.
Indonesian Public Works Minister Dody Hanggodo has announced that the relocation of President Prabowo Subianto's office to the new capital of Nusantara (IKN) is slated for August 17, 2028.
Indonesian Forestry Minister Raja Juli Antoni announced on October 21 that President Prabowo Subianto remains committed to advancing the development of the new capital, Nusantara (IKN), located in East Kalimantan province.
Indonesia’s Nusantara Capital City Authority (OIKN) is preparing land for embassies of foreign countries in the new capital.
Indonesian President Joko Widodo has reiterated that his government will pay special attention to domestic players keen on investing in Nusantara Capital City (IKN), East Kalimantan, considering their huge numbers.
Indonesian President Joko Widodo held his first cabinet meeting in the planned new capital, Nusantara, on August 12.
Indonesia spent 5.5 trillion IDR (336 million USD) on the resettlement project in its new capital Nusantara in the first five months of this year.
