Indonesia, UAE sign USD 23 bn investment deals: officials
PTI, Jan 13, 2020, 4:45 PM IST
Jakarta: Indonesia and the United Arab Emirates have struck nearly USD 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 USD 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.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Things getting worse in Western Ghats, says Madhav Gadgil
Maha: RPF jawan saves pregnant woman from falling into gap between moving train and platform
Minor girl poisons four of family; sent to remand home
Related Articles More
Data shows ship crossed over oil pipeline that ruptured
South Korea says North Korea fired projectile to sea
Three Indian Americans appointed as White House fellows
ISKCON urges Bangladesh govt to take steps against perpetrators of violence
India, Israel agree to resume negotiations on FTA from next month