Indonesia, UAE sign $23bn investment deals

Indonesia, UAE sign $23bn investment deals
Indonesia, UAE sign $23bn investment deals

We show you our most important and recent visitors news details Indonesia, UAE sign $23bn investment deals in the following article

Hind Al Soulia - Riyadh - JAKARTA — Indonesia and the United Arab Emirates have struck nearly $23 billion in business deals, including agreements in the energy sector and on infrastructure projects, the Southeast Asian nation said Monday.

The investments will be made through a new Indonesian sovereign wealth fund set to also involve Japan's Softbank and US International Development Finance Corporation, Jakarta said, without elaborating.

The figure includes nearly a dozen deals signed after a meeting between Indonesian President Joko Widodo and Crown Prince Sheikh Mohammed Bin Zayed in Abu Dhabi over the weekend, Widodo said on social media.

About $12.6 billion was linked to an agreement between Indonesia's state energy firm Pertamina and Abu Dhabi National Oil Company to develop a petrochemical plant in West Java, according to Indonesia's foreign ministry.

Other investments include deals in ports, renewable energy and agriculture.

Indonesia's leader has said he will focus his second term on luring more foreign investment to Southeast Asia's biggest economy and keep up a multi-billion-dollar infrastructure drive.

Jakarta said the agreements could include investment in Indonesia's planned new capital on the island of Borneo as it moves away from congested Jakarta -- one of the fastest sinking cities on Earth.

Zayed was asked to be an advisor for the development of the new capital, said Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan. — AFP


These were the details of the news Indonesia, UAE sign $23bn investment deals for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Saudi Gazette and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Egypt, Cyprus officials intensify talks over joint gas pipeline project