Indonesian President Joko Widodo said here on Wednesday that the bill on new capital has been ready and it may be submitted to the parliament soon for approval in a bid to speed up the establishment of the new city which has lured foreign investors.
The Indonesian National Development Planning Agency (BAPPENAS) will likely submit the bill to the parliament next month after the lawmakers end their recess, which will be on March 27, according to the president.
I have heard from the BAPPENAS that the bill has been ready and it may be submitted to the parliament after a recess, Jokowi, the popular name of the president, told a cabinet meeting at the State Palace.
The draft of the law, when endorsed by the parliament, will become a legal basis for the new capital which is located in Kalimantan Island, according to the president.
The head of state further said that the concept of the new city development as a smart metropolis has attracted the international community, and foreign countries have expressed their interests to cooperate.
Jokowi urged ministers to speed up mapping the projects which will be financed by the state development budget and the private sector as the government aims to kick off the construction of basic infrastructures later this year, according to a statement from the Cabinet Secretariat.
The Indonesian state owned enterprises and the private sector will bear the most of the financing for the projects. Indonesia plans to start removing the capital in 2024.
Source: China ASEAN Business Council