Indonesia to Receive US$22.8 Billion Investment from the UAE

President Jokowi meets with Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan at the Qasr Al Watan Palace, Abu Dhabi, UAE, Sunday (12/1) local time. (Photo by: BPMI Setpres)

Indonesian Government has cemented an investment deal of US$22.8 billion from the United Arab Emirates (UAE).

The UAE will invest through the Sovereign Wealth Fund, joining Masayoshi from Japan SoftBank Group Corp. and the US International Development Finance Corporation (IDFC).

“We have never inked a deal as big as it (in Indonesian history). During the tête-à-tête meeting and dinner reception, President Joko “Jokowi” Widodo and the Crown Prince Mohammed bin Zayed were also getting along very well. The meeting was very warm and the Crown Prince showed respect to our President as his ‘big brother’,” the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan told reporters at a press conference at the Emirate Palace, Abu Dhabi, UAE, Sunday (12/1).

On the occasion, Minister of Foreign Affairs Retno Marsudi stated that the trust from UAE was established since the Crown Prince’s visit to Indonesia in July last year.

After the meeting, both leaders appointed a Minister to communicate intensively about the two countries’ cooperation, in which one of them is an investment.

“In seven months, we can complete sixteen agreements,” the Minister stated, adding that this is a concrete collaboration that was done only in a short period of time.

She went on to say that that cooperation has shown trust from the world to Indonesia. “Besides investment, we also agreed on other cooperation,” Retno added. (EN/RAH/ES)

Translated by: Fairuzzamani Inayatillah
Reviewed by: Estu Widyamurti
Proofread by: Lulu Wuliarti