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AP National Business

Malaysia pledges to invest in Indonesia’s new capital

KION
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Published 12:00 AM

By ACHMAD IBRAHIM and NINIEK KARMINI
Associated Press

BOGOR, Indonesia (AP) — Malaysian Prime Minister Anwar Ibrahim says his country would invest in the development of Indonesia’s new capital on Borneo island, which both nations share. Anwar made his first overseas trip to Jakarta since taking office in November, saying at least 10 Malaysian companies have committed to invest in Nusantara, the new capital that was chosen in 2019 to replace Jakarta, some 1,240 miles away. The city of about 10 million on the densely populated main island of Java has been sinking due to environmental degradation and overcrowding. Anwar cited the proximity of Nusantara to Malaysia’s Sabah and Sarawak states and federal territories on Borneo island, saying the new capital’s growth will benefit the region’s economy.

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