A memorandum of understanding (MoU) on cooperation has been signed between the Land Bank Authority of Indonesia and J Trust Group of Japan to develop Penajam Eco City, designed as a commercial hub to serve as the economic engine of Indonesia's new capital.
Indonesian President Joko Widodo on January 13 invited nations and businesses around the world to invest in the country’s soon-to-be-built administrative hub.
The Indonesian government’s plan of relocating its capital city from Jakarta to the eastern region of Kalimantan Island is perceived as a potential for the nation to develop a green city from scratch.
