20220830 AI Nusantara Main

Some potential Nusantara investors are holding onto their money until Indonesian President Joko Widodo paints a "big picture" of what he envisions. © Nikkei montage/Source photos by Jun Suzuki, Reuters

Jokowi struggles to drum up investors for new Indonesia capital

As SoftBank withdraws, Japan Inc. takes wait-and-see approach to $30bn project

BALIKPAPAN, Indonesia -- In late June, Japanese investors appeared puzzled while visiting near the construction site of a new presidential palace in the jungles of Borneo. Aside from trees, they could only see a white sign with the words, "titik nol," indicating the center point of Indonesia's future capital, Nusantara.

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