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Jakarta Post

'Largest deal in Indonesia's history': UAE pledges to invest in deal worth $22.8b

  • Norman Harsono
    Norman Harsono

    The Jakarta Post

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Jakarta   /   Tue, January 14, 2020   /  08:45 am
The Jakarta Post Image
President Joko "Jokowi" Widodo (left) chats with Abu Dhabi Crown Prince Sheikh Mohamed Bin Zayed Al Nahyan from the United Arab Emirates (right) during the President's visit to Abu Dhabi on Sunday, Jan. 12, 2019.(Presidential Palace Press Bureau/Laily Rachev)

The United Arab Emirates (UAE) will invest in a third of US$22.8 billion worth of development projects in Indonesia as Southeast Asia’s largest economy looks to the world’s wealthiest countries to fund infrastructure and human capital development projects. The investment plan was announced during President Joko “Jokowi” Widodo’s official two-day trip to Abu Dhabi that ended Monday. Foreign Minister Retno LP Marsudi said that, under the deal, the UAE would invest $6.8 billion into five government-to-government projects and 11 business-to-business projects in agriculture, education, energy and mining, among other sectors. “As the President conveyed, this deal with the United Arab Emirates might well become the largest deal in Indonesia’s history,” Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan said in a statement...