ndonesia received US$3 billion in investment earmarked for its tourism sector from a prominent developer based in the United Arab Emirates during a high-level visit led by President Joko “Jokowi” Widodo to pitch the Nusantara Capital City (IKN) project.
The “landmark” investment will boost significant economic growth opportunities for Indonesia’s tourism ecosystem and infrastructure, State-Owned Enterprises (SOEs) Minister Erick Thohir asserted.
Arriving in Abu Dhabi with a closed delegation, Jokowi on Tuesday embarked on his day-long string of engagements including with his counterpart President Sheikh Mohammed bin Zayed (MBZ) and UAE entrepreneurs to push for the funding of the Nusantara project.
Economic partnership between Indonesia and the UAE will be at the forefront of his brief visit, Jokowi told reporters ahead of his flight at the Halim Perdanakusuma Air Base in Jakarta.
During his meeting with MBZ on Wednesday, Jokowi highlighted several bilateral cooperation plans, including increased trade, the advancement of the Indonesia-UAE Comprehensive Economic Partnership Agreement (CEPA) and the joint construction of a landing platform dock (LPD).
“[On] strategic investments, the cooperation between UAE and Indonesia has only strengthened,” Jokowi said during the bilateral talks, while stressing that among Indonesia’s focuses at the moment is the development of the IKN.
Read also: Jokowi flies to UAE for another Nusantara sales pitch
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