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View all search resultsDanantara to create joint fund, build CPO refinery with Egypt
Trade between Indonesia and Egypt in 2025 reached a total of $2.4 billion, almost $2 billion of which was the value of Indonesia’s exports to Egypt, according to data from Statistics Indonesia (BPS).
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Egyptian President Abdel Fattah al-Sisi shakes hands with Indonesian President Prabowo Subianto after a joint-press conference following their meeting on Oct. 11 at the Merdeka Palace in Jakarta. (Reuters/Ajeng Dinar Ulfiana)
I
ndonesia and Egypt have agreed to establish a joint investment fund between the former’s state asset fund Danantara and the latter’s government investment body and double the goods traded between the two countries.
President Prabowo Subianto met with his Egyptian counterpart President Abdel Fattah El-Sisi in Jakarta on Sunday where they agreed to deepen economic ties between the two countries, spanning investment, trade and project collaborations.
“I also welcome the initiative of establishing a joint investment fund by investment institutions of both countries to push investment in strategic projects,” said Prabowo in their joint address after a meeting that lasted hours.
Both governments then released a joint statement later in the day detailing that the joint fund would be established between Danantara and the Future of Egypt Authority for Sustainable Development, an Egyptian government body centering on development and investment.
The body, known in Arabic as Mustaqbal Misr, originally belonged to the Air Force before a law that came into force in July expanded it into a broad economic body that report directly to the President.
Mustaqbal Misr holds responsibility in a wide array of economic developments including overseeing one of the country’s two sovereign wealth funds familiarly known as the Nile Pyramids Sovereign Funds, created when the expansion law kicked in.
The joint statement detailed that the joint fund has “promising opportunities for cooperation” in the production and distribution of crude palm oil (CPO) and its derivatives alongside phosphate fertilizers and related raw materials.
