U.A.E Ruler, SoftBank’s Son to Oversee Building of Indonesia’s New Capital
- Former British Prime Minister Blair also to join capital panel
- Indonesia set to begin construction of $34 billion capital
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Indonesia nominated Abu Dhabi Crown Prince Mohammed Bin Zayed Al Nahyan to chair a panel to oversee the construction of a new capital, easing the burden on sinking and congested Jakarta.
SoftBank Chief Executive Officer and founder Masayoshi Son and former British Prime Minister Tony Blair will also join the steering committee, according to Indonesia’s Coordinating Ministry for Maritime Affairs and Investment. The panel will advise the government on building the new capital at a cost of $34 billion and provide a confidence boost for prospective investors, the ministry said.