kinds of oldest ambitions to be within reason. what do you see it really is possible to reverse the researchers and scientists all over the world. for you know, race against time. they are peers and rivals one daring goals to help smart nature, the more likes watching it on youtube dw documentary, this is the, the news aisha coming up today in to be shows new capital and expensive web portal . well thought out investments produce on total rich costs, billions of dollars to finish. the government is hoping private investors been put most of the available at see it as an investment,

really and how sound other government's plans, the time finish plan and you're welcome to the the news. a chart that you could join us . indonesia is building a new capital on the island of borneo. gold news on top. it is expected to be fully ready by 2045. but the plan is to have some companies, institutions move to it from a lead. next step president, yoko of adult or has been a major back out of the project. and just last month wasn't single pull through in cottage, private investors to, for the majority of the $32000000000.00 price tag. so i suggest you going with too long. gone. just sit and watch.

this is a garden opportunity. that is fatty. that's the right thing in indonesia. it's all of you can be bought off a free thing. it'd be fine. no need to warranty your investment in indonesia. we're on the new to be safe and also the fun thing. 8 the of the sunset. i get both of these the problem and there are some that are, has been developed because the columns capital jakarta is sinking. rising sea levels, coupled with subsidence, have clouded, took off his long term prospect. also, the government argues indonesia needs to redistribute economic prosperity. currently, this is concentrated on the main island of java, but it's an economic argument. not everyone is convinced of. this is where

airplanes could soon touchstone a v i. p runway is the latest item on the long wish list from indonesia as president for the countries new capital. some 7000 workers are currently busy playing the foundations for a number of official buildings in what is still a vast eucalyptus forest. this is what about 5 to 10 percent of the presidential dream. looks like slowly but truly indonesia as new capitol, as a marketing from the ground on the island of borneo. over here, you have the presidential palace being built. and this is where the presidential residence will be. nissan, colorado as president joke, will be totals flagship project and is envisioned as a green smart city. but with the whooping $32000000000.00 price tag, some investors have expressed concern that development may lose momentum after the end of we those final term in office next year. as the main opposition party in

jakarta is not surprised, but valuables young double because it depend on what we need our new centers of economic growth. and that's not a new policy to get that we're going to proceed with that. we just put at least we're in pessimistic. we're realistically at a book to pick up the business world only cares if their investment will multiply, not somebody's. i think i wouldn't mind that until now. there is no study that shows that people who invest their will get benefits conclude to them. the government disagrees officials at the building site claim. they have already received over $100.00 letters of interest. that is crucial because the private sector is suppose to, for 80 percent of the bill for the new capital, the investor. so the last to see that the government goes 1st. right? so that's, that's why most of the buildings circulate. this in 3030 far is being built by the guy, their budget, depth of the marketplace. but that's that,

that's what i really said. there will be a lot of fine investors to program. some of them are still waving. see, but the safe to say that the effort that is there, the construction of the new capital begin in mid 2022 months. the government arguing that arcada was congested and sinking. this them being built just the boston new capital, is suppose to prevent such problems. the plan is now to officially declare a new, some tar ah, indonesia, as new capital. in the 1st off of 2024. just before a new indonesian president this morning and potentially or to a plane to fly here. and joining me, nothing more context from jakarta is a government us our issues and associate professor, you know, but design an architecture at mona, i should investigate indonesia. it got jakarta is thinking so indonesia needs a new capital, but the government also say is the country needs new economic centers away from the

main island of java. how does constructing a new capital ensure that as well, i'm constructing a new copy to of course it's a big task and the new aim for this new capital city is to create a new economy centers following the tech guy. i mean, like we have some problems, he just got time left to create this a new so perhaps, but of course we need such an infrastructure default man, business incentives and accepting industries and enforcement to play a crucial role in and shooting the growth and prosperity of the new capital. now, if we are looking at the test that the of these eco and the plan is in 2025 to the 2035. and the must have planned shows that they will build these become an economy super hub, which it's vision is to be the last rule 6 economy cluster. this is how they plan

to do it. and of course, there will be like, you know, for example, it's like the next generation you'll be manufacture integrated, pharmaceutical, acosta, sustainable as the industry and so on. and as you can see that, um this economy, super hub is expected to be benefit from also putnam regions and probably my them. um, so in the neighboring cities, um, but look, this cannot be happening without the support of the investors. as you can see, uh we know that in order to build this capital um, the funding from the government cannot stand alone. it needs the private sectors to invest on this. and i did want to talk to you about that because the government wants some 80 percent of the project costs, which is something like $32000000000.00 to be borne by a private invest. as in fact, we had to the president in single board just last month speaking to private

investors, asking them to invest, hired a simple question, really is how excited is the private sector? are they putting into money? that's very difficult because at the moment i think the government is trying so hard to get the investors. but let's see how this is split up in terms of the planning and also in terms of the regulations, based on the presidential regulations. number 172022. now this a cut and can be funded by the state budget, but also by the private budget. as you mentioned, is 80 percent and says from relies on this private budget of clothes. there's some sentiment. so this headspace concepts about the potential conflict of interest and also influence that the wealthy individuals or corporations may have over the different elements of the new capital. and also,

but the long term sustainability lying heavily on the private funding. but we've done this private investors, of course indonesia cannot build its own capital at the moment. it seems that the government is trying so hard, but um, so far as far as i know, we haven't kind of like, i mean the innovation doesn't kind of like having close to any kind of view. i think the less in for so kind of like back off a so we haven't, can see the, you know, the new interest us coming. but interestingly enough, or the press of sick. this is expected to contribute significant portions of the funding that has been some challenges. yeah, in speculating this investment. so now what we can see um there's some changes in the government as well, like say for instance, to attract the in 1st us government met federal funding schemes for instance. yeah . um, for instance, like the government and business corporation are a couple of

a lawyer in indonesian time investment corporation between the government and state on company or private companies in the national findings, special tech incentives, for instance, at all these kind of new facilities that the government offers so it is interesting to see how these things being let out. and um, you know, whether this is going to be happening or not, or whether we can kind of like successfully attract the interest of us or not. i was going to ask you to look into a crystal ball and speculated as to wherever you're going to go, but i can imagine that's kind of be a difficult question to answer that. so let's just talk about god. because you have worked in jakarta and you have worked on the subsidence problem in chicago, the fact that took out the sinking and that's why the new capital is being built. my question to you is what happens to jakarta and then tell them, i mean, does it eventually sink into the seas or when people continue or leaving in jakarta?

me? well, the fact that the god that is thinking i met it's didn't undeniable yet. and i'm, unfortunately, that hasn't been any concrete effort in order to kind of like rescue the safety there. awesome. so for instance, like a new pipelines you know, to provide a clean water. but the said the lens supp site and it's really severe, especially in certain pines now. um, i know this is like a political years, you know, because of the art of changing the presidency by next year. but the has to be a concrete plan, you know, for us to check out that the fact that people who are moving to the new coverage or not to caught them, especially the 1st stage, is mostly for the civil cellphones, the army, the police, and so on. so it's not free of which a caught them people at the south for more uh you know, for the slot and also for other disparities. yeah, that's happening in this sinking sit they overall uh take uh if you look at the

country and your coffins in particular, how much support is there uh for this move to a new capital. yes. look um, i've seen that in the special upcoming regulation that um that have some plans. what happens to check out that i submitted an application of the new capital. so there might be some changes in terms of the building use for instance, and all of that. so those are the special relations or special planning regulations that has been issued. yep. mm hm. but other than that, what i can see is that the, the main problems of chicago land subsidence and also the flat. i don't see anything at the moment. i don't see anything. it's in a concrete plan yet apart from the, you know, making the new pipeline. we did have that kind of

a plan to create this um c wall for instance. but even so that's being implemented at the moment where you live. i live at the, for the time being, but always a pleasure talking to you a copy of my, my survey from one i should investigate in indonesia. thanks so much. i and that does it for today. it is most stories from the region on our website. the dot com forward slash page share, and as part of our you can follow us on facebook and if trip to back tomorrow at the same time and see you then to play the, every jenny is full of surprises allowed to give you some

of the right people in your northern most count the police, the free time, but still very much alive. your guy to the special hot sauce in germany recognizes where exactly it was fun. learn a lot of our culture history. all their travel extremely worth a visit. the oil prices rise after saudi arabia and russia, $5.00 to cost, i put on the export, the move compliment, we can in global demand and calls to lesson dependence on fossil fuels. and it's a red hot markets. why is the global fights?

industry is booming, business dw, business on kate ferguson. thanks for joining me. oil prices have risen off of the world's to biggest exposure is of the commodity made move to caught production and exports. so the radio says it will extend its current. i put costs of the in barrels of day until august, while russia says it will reduce its exports. both re at moscow are concerned about the prospect of oil prices sliding a week or demand from china and europe put pressure on factory activity. for more in this last spring in all markets, almost live yeah. color right, to live. yeah, i want to look at both these decisions in a broader context. more than 2 thirds of faddie, rayas income still comes from selling fossil fuels. how worried is the country about a broader global economics loaded? well, sorry, we weren't aware of the risks of the.