Here, we bring you the news that is trending across WION's social media platforms: - Mysterious object cruising at scary speed inside our galaxy baffles scientists - Nusantara, Indonesian capital, said to be a hub of black magic, ignites fear - World plastic pollution treaty: Are climate change discussions inclusive?

Mysterious object cruising at scary speed inside our galaxy baffles scientists | Trending on WION

Indonesia is all set to build its new capital Nusantara, and for that, the country's parliamentary budget committee approved an additional 15 trillion rupiah ($1.01 billion) on Friday to speed up its construction, Reuters cited a senior lawmaker as saying.

Said Abdullah, the committee's chair, said that previously, 22 trillion rupiah was allocated for developing Nusantara on Borneo island in 2023 and the recently allocated budget of 15 trillion will be utilised in this year's construction.

"Therefore, in June (2024) the president can live there," he told a hearing with the government's senior ministers.

Indonesia is planning to complete the capital's main administrative offices, which include the presidential palace and key ministerial buildings, by mid-2024.&nbsp;

At least 16,000 civil servants, military and police are scheduled to move to those respective buildings next year.

President Joko Widodo vowed that only 20% of the total project's cost, which is around $32 billion, will be from the government's fund, the rest all will be from the private sector.

However, as of now, no investment deal has been signed as the investors worry about the project's feasibility and continuity despite the fact government offering incentives.&nbsp;

<h2>President Joko promises high returns to investors</h2>

Earlier this week, President Joko Widodo promoted his country’s planned new $32 billion capital to global investors and promised high investment returns.

While speaking at a sustainability-focused conference hosted by Singapore's Temasek Holdings, he offered 300 development packages worth $2.6 billion to investors interested in building the city, Nusantara, amidst the jungles of Borneo Island, and promised high returns.

He said that Indonesia's economy which is growing steadily at around 5%, coupled with low inflation, should be enough to convince investors.

“Don't just sit and watch. This is a golden opportunity in Indonesia that is very captivating and which all of you can be part of,” he said at the event in Singapore.

"Everything will be fine, no need to worry, your investment in Indonesia will continue to be safe and (there will be) continuity in the development of Nusantara capital city," said Jokowi, as he is popularly known, while presenting images of the planned futuristic city.

(With inputs from agencies)

 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

Indonesia is all set to build its new capital Nusantara, and for that, the country's parliamentary budget committee approved an additional 15 trillion rupiah ($1.

Indonesia is all set to build its new capital Nusantara, and for that, the country's parliamentary budget committee approved an additional 15 trillion rupiah ($1.01 billion) on Friday to speed up its construction, Reuters cited a senior lawmaker as saying. Said Abdullah, the committee's chair, said that previously, 22 trillion rupiah was allocated for developing Nusantara on Borneo island in 2023 and the recently allocated budget of 15 trillion will be utilised in this year's construction. "Therefore, in June (2024) the president can live there," he told a hearing with the government's senior ministers. Indonesia is planning to complete the capital's main administrative offices, which include the presidential palace and key ministerial buildings, by mid-2024. At least 16,000 civil servants, military and police are scheduled to move to those respective buildings next year. President Joko Widodo vowed that only 20% of the total project's cost, which is around $32 billion, will be from the government's fund, the rest all will be from the private sector. However, as of now, no investment deal has been signed as the investors worry about the project's feasibility and continuity despite the fact government offering incentives. President Joko promises high returns to investors Earlier this week, President Joko Widodo promoted his country’s planned new $32 billion capital to global investors and promised high investment returns. While speaking at a sustainability-focused conference hosted by Singapore's Temasek Holdings, he offered 300 development packages worth $2.6 billion to investors interested in building the city, Nusantara, amidst the jungles of Borneo Island, and promised high returns. He said that Indonesia's economy which is growing steadily at around 5%, coupled with low inflation, should be enough to convince investors. “Don't just sit and watch. This is a golden opportunity in Indonesia that is very captivating and which all of you can be part of,” he said at the event in Singapore. "Everything will be fine, no need to worry, your investment in Indonesia will continue to be safe and (there will be) continuity in the development of Nusantara capital city," said Jokowi, as he is popularly known, while presenting images of the planned futuristic city. (With inputs from agencies) WATCH WION LIVE HERE

Indonesia's parliamentary budget committee approves additional $1 billion for construction of new capital

Indonesia is building a new capital called Nusantara on Borneo island from scratch. However, experts worry about the environmental impact of such a large-scale project.

Is Indonesia building its new capital at the cost of environment? | WION Climate Tracker

Indonesia celebrated its first independence day at its future capital in the ancient rainforests of eastern Borneo on Wednesday as the nation plans a move away from the slowly sinking, traffic-clogged Jakarta.

Nusantara, which is 2,000 kilometres (1,200 miles) from Jakarta, is set to become the new political centre of the world's fourth-largest country.&nbsp;

It is a legacy project of President Joko Widodo, but environmentalists have warned it could accelerate the destruction of tropical jungles home to long-nosed monkeys and orangutans.

The government is preparing to ramp up infrastructure projects to open the doors to the city—which will cover about 56,180 hectares (216 square miles) on Borneo island by the time Widodo leaves office in 2024.&nbsp;

"The main point (of the ceremony) is to take the spirit of the 77th Independence Day to strengthen our resolve and spirit to build the new capital," said State Capital Authority head Bambang Susantono, who will govern the new city.&nbsp;

After the national flag was hoisted by officials to mark the occasion, workers at the site cheered in unison that they were "ready to develop Nusantara," which means archipelago in Indonesian.

Jakarta is home to 30 million people in its greater metro area, and it has long been plagued by serious infrastructure problems and flooding exacerbated by climate change.

It is sinking as much as 25 centimetres (10 inches) a year in some areas -- double the global average for major coastal cities -- with some experts predicting up to a third of the megalopolis could be underwater by 2050.

Government officials say the new capital will take decades to be fully completed and inhabited by its planned population of two million people and will help spread economic growth to an underdeveloped region.&nbsp; 
&nbsp;

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Indonesia celebrated its first independence day at its future capital in the ancient rainforests of eastern Borneo on Wednesday as the nation plans a move away from the slowly sinking, traffic-clogged Jakarta.

Indonesia celebrated its first independence day at its future capital in the ancient rainforests of eastern Borneo on Wednesday as the nation plans a move away from the slowly sinking, traffic-clogged Jakarta. Nusantara, which is 2,000 kilometres (1,200 miles) from Jakarta, is set to become the new political centre of the world's fourth-largest country. It is a legacy project of President Joko Widodo, but environmentalists have warned it could accelerate the destruction of tropical jungles home to long-nosed monkeys and orangutans. The government is preparing to ramp up infrastructure projects to open the doors to the city—which will cover about 56,180 hectares (216 square miles) on Borneo island by the time Widodo leaves office in 2024. "The main point (of the ceremony) is to take the spirit of the 77th Independence Day to strengthen our resolve and spirit to build the new capital," said State Capital Authority head Bambang Susantono, who will govern the new city. After the national flag was hoisted by officials to mark the occasion, workers at the site cheered in unison that they were "ready to develop Nusantara," which means archipelago in Indonesian. Jakarta is home to 30 million people in its greater metro area, and it has long been plagued by serious infrastructure problems and flooding exacerbated by climate change. It is sinking as much as 25 centimetres (10 inches) a year in some areas -- double the global average for major coastal cities -- with some experts predicting up to a third of the megalopolis could be underwater by 2050. Government officials say the new capital will take decades to be fully completed and inhabited by its planned population of two million people and will help spread economic growth to an underdeveloped region. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Nusantara: Indonesia celebrates first independence day at future capital

Indonesia's President Joko Widodo declared on Wednesday that construction of the country's new capital Nusantara has begun.

The mega project involves a move away from the current capital Jakarta to Kalimantan located on Borneo island. The government had unveiled the plan earlier this year as Indonesia's Parliament approved a bill to relocate the country's capital.

<a href="https://www.wionews.com/trending/amid-boom-indonesia-plans-to-tax-crypto-assets-468467">Also Read:&nbsp;Amid boom, Indonesia plans to tax crypto assets</a>

The project which is set to cost $32 billion has been touted as a "new centre of economic gravity" by President Widodo's government.&nbsp;

According to the plan, initial relocation was set to begin this year with roads and ports being given priority. The government had said public-private partnerships would be given priority.

Watch:&nbsp;Indonesia names new capital Nusantara, replacing Jakarta

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/indonesia-names-new-capital-nusantara-replacing-jakarta-446407/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

Reports said the president visited a dam site with road construction to Nusantara scheduled to begin next month. It set to be built near the port city of Balikpapan.

President Widodo said basic infrastructure development has started with the construction of the dam being underway.

The president had announced the plan for the first time in 2019 however it was delayed due to the pandemic as spending was diverted to contain the virus.

The country's finance minister &nbsp;Mulyani Indrawati had announced the new capital to be built in five phases with the new city to be run on renewable energy.

(With inputs from Agencies)

WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

Indonesia's President Joko Widodo declared on Wednesday that construction of the country's new capital Nusantara has begun. The mega project involves a move away from the current capital Jakarta to Kalimantan located on Borneo island.

Indonesia's President Joko Widodo declared on Wednesday that construction of the country's new capital Nusantara has begun. The mega project involves a move away from the current capital Jakarta to Kalimantan located on Borneo island. The government had unveiled the plan earlier this year as Indonesia's Parliament approved a bill to relocate the country's capital. Also Read: Amid boom, Indonesia plans to tax crypto assets The project which is set to cost $32 billion has been touted as a "new centre of economic gravity" by President Widodo's government. According to the plan, initial relocation was set to begin this year with roads and ports being given priority. The government had said public-private partnerships would be given priority. Watch: Indonesia names new capital Nusantara, replacing Jakarta Reports said the president visited a dam site with road construction to Nusantara scheduled to begin next month. It set to be built near the port city of Balikpapan. President Widodo said basic infrastructure development has started with the construction of the dam being underway. The president had announced the plan for the first time in 2019 however it was delayed due to the pandemic as spending was diverted to contain the virus. The country's finance minister Mulyani Indrawati had announced the new capital to be built in five phases with the new city to be run on renewable energy. (With inputs from Agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Indonesia's President Widodo visits new capital construction site

Indonesia has named its new capital Nusantara, as lawmakers approve the shift from Jakarta to Kalimantan. The new name translates to "archipelago" in the Indonesian language.

Indonesia names new capital Nusantara, replacing Jakarta

nusantara

Nusantara, News on Nusantara, stories on Nusantara, articles on Nusantara, Nusantara stories at Wion, Nusantara news, Nusantara latest news