UAE Ready to Make US$22.8 Billion Investment in Indonesia

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation
Date 13 Januari 2020
Category: News
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President Jokowi signs guest book at Qasr Al Watan Palace, witnessed by Prince Sheikh Mohammed Bin Zayed at Abu Dhabi, UEA, Sunday (12/1). Photo by: BPMI

The Government of the United Arab Emirates (UAE) is ready to make US$22.8 billion investment in Indonesia through the Sovereign Wealth Fund, along with Masayoshi from Softbank (Japan), and also from the International Development Finance Corporation (IDFC) of the United States.

The commitment of the UAE Government for investment fund was reaffirmed by UAE Crown Prince Sheikh Mohammed Bin Zayed (MBZ) in a bilateral meeting with President Joko “Jokowi” Widodo, at Qasr Al Watan Palace, Abu Dhabi, UAE, Sunday (12/1).

“The Crown Prince has reiterated that Indonesia is a very close friend and that Indonesia has the largest Muslim population in the word, so they want to support Indonesia,” Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said during a press conference at the Emirate Palace, Abu Dhabi, UAE, Sunday (12/1).

Luhut added that the commitment made by Prince Sheikh Mohammed Bin Zayed was one of the biggest deals in Indonesian history. With the Sovereign Welth Fund, he added, the UAE will invest in the construction of a New Capital City in Kutai Kartanegara, East Kalimantan. Luhut went on to say that President Jokowi has asked Prince Sheikh Mohammed Bin Zayed to be the Steering Board in the construction of the New Capital City.

The Coordinating Minister further said that the UAE also seeks to provide investment in development of Aceh region. Luhut also explained that the plan has been discussed with the younger brother of the UAE Crown Prince, Sheikh Hamid.

Luhut also said that Indonesia will lead the investment process and the UAE will support the process.

“I think this is a very good offer,” Luhut said, adding that the UAE will provide investment in State-Owned Enterprises, Petrochemicals, and other sectors.

In the meantime, Minister of Foreign Affairs Retno Marsudi said at the press conference that the bilateral meeting between President Jokowi and Prince Sheikh Mohammed Bin Zayed has produced 16 cooperation agreements, including five G to G cooperation, and eleven B to B cooperation.

“The G to G cooperation covers Islamic education, health, education, agriculture, and counter-terrorism. The other eleven are B to B (Business to Business) cooperation,” Retno explained. (EN/RAH/ES)

Translated by: Ridwan Ibadurrohman
Reviewed by: Yuyu Mulyani

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