Indonesia calls for Singapore’s investment in new capital
Indonesian President Joko Widodo brought home letters of intent from investors interested in the new capital of Nusantara after his trip to Singapore on March 16.
Indonesia’s President Joko Widodo (left) and Singapore’s Prime Minister Lee Hsien Loong (right) shake hands during a joint news conference at The Istana in Singapore on March 16, 2023 (Photo: EPA)
Jakarta (VNA) – Indonesian President JokoWidodo brought home letters of intent from investors interested in thenew capital of Nusantara after his trip to Singapore on March 16.
Aside from the letters of intent on Nusantara, nine memorandum of understandings (MoUs) for a business-to-business (B2B)cooperation in the healthcare and digital field, as well asseven government-to-government MoUs also related to healthcare, digitalfield, and green energy.
The President said that the country is planning to host aforum in May to woo investors to help build the new capital. According to Singaporean 🧸Prime Minister Lee Hsien Loong,Singaporean firms will be in attendance.
The government datashowed Singapore invested 10.54 billionUSD in Indonesia, accounting for 31.56 % of the total foreign direct investmentin 2022, making Singapore now Indonesia’s largest foreign investor. The government estimated that it would take 466trillion IDR (30.3 billion USD) to build Nusantara, of which 80%of the funding will come from public-private partnerships and directinvestments. Overall, Indonesia have 20 letters of intent from theSingaporean private sector to invest in Nusantara./.
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Indonesian Defence Minister Prabowo Subianto on February 27 said that his country fully supports the strengthening of its close military cooperation with Singapore that has been built based on the principles of equality, mutual benefit and full respect for each country's sovereignty and territorial integrity, as well as international laws.
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International flights were cancelled including Jetstar and Virgin Australia flights to cities across Australia, and flights of Air India, Air New Zealand, Singapore's TigerAir and China's Juneyao Airlines.
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The Thai cabinet has approved a seven-year EV bus leasing scheme proposed by the Bangkok Mass Transit Authority (BMTA) for the capital, with an estimated cost of 15.35 billion THB (over 470 million USD).
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Univers said in a statement that the new centre will serve as a hub for innovation, bringing together digital intelligence and climate ambition to accelerate Sarawak's transition toward a low-carbon, tech-enabled economy.
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Indonesia is taking new steps to improve protections for fishery workers, amid concerns over low wages, harsh working conditions, and limited access to social welfare.
The 2025 ASEAN- the Republic of Korea (RoK) Connectivity Forum that opened in Jakarta on June 17 reaffirmed a shared commitment to shaping a connected, resilient future by advancing the ASEAN Connectivity Strategic Plan.
The desk will serve as a service centre providing market intelligence, business licensing guidance, facilitating business cooperation, identifying potential investment projects, and harmonising regulatory policies between the two parties.
Malaysian Prime Minister Anwar Ibrahim noted that the Asia-Pacific region accounted for half of global energy consumption and 60% of greenhouse gas emissions in 2024. Despite this, regional countries, including eight of ten ASEAN member states, remain committed to climate goals, including net-zero emissions and tripling global renewable capacity by 2030.
Indonesia’s President Joko Widodo (left) and Singapore’s Prime Minister Lee Hsien Loong (right) shake hands during a joint news conference at The Istana in Singapore on March 16, 2023 (Photo: EPA) 
