Jakarta: Business and investment commitments worth US$32.7 billion from 19 cooperation agreements between Indonesia and the United Arab Emirates (UAE) are expected to bolster Indonesia's national strategic projects, State-Owned Enterprises (SOEs) Minister Erick Thohir has said.
"The UAE government and businessmen's trust in Indonesia's great economic potential supports our desire to build vital and strategic infrastructure," the SOEs Minister said in a press release on Friday.
The business and investment commitments include cooperation between the Indonesia Investment Authority (INA) and the Abu Dhabi Growth Fund (ADG), the INA and the DB World, floating solar panels between Abu Dhabi-based renewable energy company Masdar and Indonesia’s state-owned oil and gas company Pertamina, an oil refinery in the East Kalimantan city of Balikpapan, manufacturing and distribution of vaccines and biofuels products.
In addition, there are various agreements between Emirati artificial intelligence Group 42 (G42) Health Care and partners in Indonesia, including in the fields of smart cities, telecommunications, development of genomic laboratories, and so on.
"So the majority of the investment will be allocated to various SOEs," Erick stated.
According to Erick, UAE investors has continued to establish various cooperation with the Indonesian government and businessmen in the country.
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