President Joko Widodo delivers a briefing at the Special Plenary Session of the 2019 Supreme Court Annual Report in Jakarta on Wednesday. (Antara Photo/Sigid Kurniawan)

Trump to Meet Jokowi to Discuss US Investment in New Capital City

BY :INVESTOR DAILY

FEBRUARY 26, 2020

Jakarta. Indonesia's Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan has revealed that President Joko "Jokowi" Widodo and United States President Donald Trump are scheduled to meet sometime in the near future, among other things to discuss investment in the new capital city in East Kalimantan.

According to Luhut, the US government's interest to get involved in the development of the new national capital was conveyed by its senior advisor and Trump's son-in-law, Jared Kushner, at a meeting in Washington, D.C. in October last year. 

"We mentioned the president's plan regarding the new capital city. Jared commented the plan [to move the capital city] was very visionary and praised Jokowi's leadership. He also asked the president to have more detailed discussions with Trump," Luhut said in his office in Jakarta on Tuesday.

On the same day, Jokowi welcomed South Korea's Environment Minister Cho Myung-Rae at Merdeka Palace in Jakarta, and one of the points of discussion was South Korea's interest to also get involved in the construction of the new capital city.

National Development Planning Agency (Bappenas) chairman Suharso Monoarfa, who accompanied Jokowi in the meeting, said in a press statement afterward that no details of a possible partnership between South Korea and Indonesia in constructing the new capital were discussed. 

However, he said that South Korea has plenty of experience in creating green and sustainable cities, the direction Jokowi wants the new capital city to go. 

The meeting between Jokowi and Trump will also provide a chance for the two leaders to discuss Indonesia's plan to create its own Sovereign Wealth Fund (SWF).

Luhut said the International Development Finance Corporation (IDFC) has expressed an interest in joining the SWF.

According to the Finance Ministry's Fiscal Policy Agency (BKF), SWF is a state-owned investment fund that manages public funds and invests in broad and diverse assets. Its function is to stabilize the economy by increasing investment and public savings.

 

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