Indonesia, Saudi Arabia Sign US$27 Billion Investment Agreements for Strategic Cooperation

President Prabowo Subianto holds a high-level bilateral meeting with the Crown Prince and Prime Minister of Saudi Arabia, Mohammed bin Salman Al Saud, during his state visit to Saudi Arabia at Al-Salam Palace, Jeddah, Wednesday (07/02). (Photo by: BPMI of Presidential Secretariat)

President Prabowo Subianto and Saudi Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud (MBS) Wednesday (07/02) reaffirmed their commitment to deepening strategic cooperation across key sectors during a bilateral meeting at Al-Salam Palace, Jeddah.

The renewed commitment was outlined in a joint statement issued by both Governments following the meeting.

President Prabowo and Crown Prince Mohammed bin Salman underscored their shared interest in enhancing collaboration in the health sector, particularly in improving medical services for Hajj and Umrah pilgrims.

The two nations also expressed support for increased investment in pharmaceuticals, vaccine development, health technology, and the development of human resources in the health sector.

“Both leaders also expressed their aspiration to strengthen cooperation in the health sector, particularly in implementing health protocols for Hajj and Umrah pilgrims. They also committed to supporting investment in healthcare through collaboration in the pharmaceutical, vaccine, and health technology industries, as well as in the development of human resources,” as quoted from a written joint statement.

In addition, both countries emphasized the importance of enhancing cooperation across a range of strategic sectors. These include the digital economy, judicial affairs, employment, culture, tourism, youth and sports, education and scientific research, industry and mining, agriculture, fisheries, food security, and air connectivity.

In the area of defense and security, the two leaders agreed to deepen cooperation in pursuit of mutual interests and to contribute to regional and global stability, including joint efforts in counter-terrorism, combating extremism, cybersecurity, as well as the exchange of intelligence and training.

“They also reaffirmed their commitment to enhancing joint security cooperation and coordination on issues of mutual concern, including the eradication of all forms of crime, terrorism, and extremism, along with their financing. The two sides also pledged to strengthen collaboration in cybersecurity and in the exchange of information, expertise, and training,” the joint statement read.

At the bilateral meeting, President Prabowo and Crown Prince Mohammed bin Salman also welcomed the signing of several agreements and memoranda of understanding (MoUs) between Indonesian and Saudi Arabian private sector entities worth around US$27 billion, which cover key sectors such as clean energy, petrochemical industry, and aviation fuel services.

“The two sides welcomed the signing of a number of agreements and MoUs during this visit between private sector institutions, with a value of approximately US$27 billion in various sectors, including clean energy, petrochemical industry, and aviation fuel services. These agreements reflected the shared aspirations of both countries to build an advanced economic partnership,” the joint statement said.

For the record, both countries also underscored the importance of continued cooperation in multilateral forums, including the International Monetary Fund (IMF), the World Bank, the Organization of Islamic Cooperation (OIC), the G20, and the Non-Aligned Movement, to address global challenges and advocate for shared interests. (BPMI of Presidential Secretariat) (RIF/MMB)