JAKARTA (Bernama-ANTARA): Indonesia's capital of Jakarta is in need of long-term plans that might require 20 years of implementation for it to emerge as a world-class business metropolis, the Centre of Reform on Economics (CORE) Indonesia stated.
"Indeed, long-term plans are necessary. It is difficult to imagine (Jakarta becoming a global city) in five to 10 years. The vision is long-term in nature. Fifteen to 20 years are needed, to say the least," CORE economist Yusuf Rendy Manilet remarked here on Monday, reported ANTARA news agency.
He assessed that Jakarta still has several tasks to tackle on its path to becoming a business city capable of competing with New York in the United States and Melbourne in Australia.
The economist emphasised the significance of Jakarta enhancing the quality of its public transportation systems, ensuring that its mass transit facilities can accommodate residents from the city's surrounding areas.
Jakarta also needs to come up with strategies for averting the risk of being submerged as a result of climate change while providing residences to address the housing backlog phenomenon, he added.
For the city to overcome those challenges, he said, the central government and Provincial Government of Jakarta need to prepare budgets that can sustain long-term measures.
Manilet then emphasised the importance of the political will of the governments to ensure the proper implementation of long-term plans.
"It should be noted that the vision of Jakarta leaders will surely play a decisive role. Its leaders could direct the development of the transportation systems to support Jakarta to become a global business city," he stated.
He noted that the future governors of Jakarta are anticipated to uphold the city's economic growth to attract further investments.
The economist expressed confidence that Jakarta will continue to attract capital from both domestic and foreign investors, even after it transitions from its role as the capital city. - Bernama-Antara
