Jakarta Will be Indonesia’s Business and Financial Centre After Capital Relocation

Speaking at “The Future of Jakarta after Nusantara” seminar in Jakarta on Saturday (17/2/24,) Bambang Susantono, head of the Nusantara Capital City Authority (OIKN), said that after the government shifts base to the new capital, Nusantara, Jakarta will become Indonesia’s business and financial centre according to reporting from Antara News.

“Jakarta will become a financial centre, for sure. Business and financial centres will stay here, we will have a new financial superhub,” he said, just like Almaty in Kazakhstan after its capital was shifted to Astana.

To support this development, Indonesia and Kazakhstan have signed a memorandum of understanding (MoU) to make Nusantara and Astana sister cities, he said.

Antara News says the capital relocation is expected to create a mutually strengthening relationship between Nusantara and Jakarta with Jakarta remaining a business and financial centre, while Nusantara will be a smart and inclusive city.

Jakarta has remained an attractive investment magnet, with continual growth and high economic value. With the shifting of the national capital to Nusantara, economic growth outside Java Island is expected to continue and get evenly distributed, according to Antara News.

“We will have an economic superhub outside Jakarta,” Susantono said.

Meanwhile, regional director I of the National Development Planning Ministry (Bappenas), Abdul Malik, said that Jakarta’s role will become vital after the national capital moves to Nusantara.

Malik noted that Jakarta is the second-largest metropolitan area in the world after Tokyo, and Jakarta with its buffer areas of Bogor, Depok, Tangerang, and Bekasi, will be the largest agglomeration zone in the world, says Antara News.

“Many predicted that there would be two megapolitans, which are Jakarta and the Bandung Basin. These two will become the main drivers,” he said.

 

Source: Antara News

Stock photo by Rifki Kurniawan on Unsplash

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