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Jakarta Post

Indonesia looks to net $3.9b in investment during Jokowi’s visit to United Arab Emirates

  • Norman Harsono
    Norman Harsono

    The Jakarta Post

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Jakarta   /   Thu, January 9, 2020   /  01:57 pm
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Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan (center) speaks at a press conference on nationwide investment projects in Jakarta on Dec. 10, 2019.(JP/Norman Harsono)

Indonesia has set its sights on securing US$3.9 billion from investors in the United Arab Emirates (UAE) during President Joko “Jokowi” Widodo’s three-day official visit to the Middle Eastern country next week amid Indonesia’s investment push to stoke economic growth. Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan said on Tuesday evening that the UAE’s investments would be funneled into 14 projects, mostly in the energy sector. With a total investment value estimated at $18.8 billion, the UAE would fund one fifth of the projects, while other sources of financing will come from other countries, including Indonesia. “But that value can change. This is still first phase of negotiations,” he told reporters after a pre-visit meeting with Indonesia’s energy minister, foreign minister and Coordinating Investment Board...