Indonesian President Joko Widodo has expressed optimism that his country will be able to celebrate next year's August 17 Independence Day celebration in the new capital, Nusantara.

Construction is underway to relocate the Indonesian capital from Jakarta to a site on Kalimantan Island about 2,000 kilometers away. The megacity of Jakarta has for years struggled with traffic congestion and air pollution.

The Indonesian government plans to begin relocating the capital from August 17, 2024, which falls on the country's independence day.

At a ceremony celebrating the anniversary on Thursday, a video showing ongoing construction of the new capital was shown before about 8,000 guests.

Speaking to reporters, President Joko was optimistic that next year's Independence Day ceremony will be held in Nusantara.

The relocation is projected to cost about 30 billion dollars, and the Indonesian government plans to fund 80 percent of the cost with investment money.

A total of 121 companies from 18 countries have expressed interest in investing in infrastructure projects in the new capital. Japanese firms account for 27 of them.

The Deputy for Funding and Investment at the Nusantara Capital City Authority, Agung Wicaksono, told NHK that competition for investments is moving very fast. He said he believed Japanese companies do not want to be left behind.

He expressed hope that Japanese companies will contribute to the creation of the new capital as a smart, sustainable, forest city.