UAE investment in Indonesia reaches 259 mln USD over last five years

Jakarta (Indonesia Window) – The investment value of the United Arab Emirates (UAE) in Indonesia in the last five years has reached 259 million U.S. dollars, according to a written statement from the Indonesian Embassy in Abu Dhabi received by Indonesia Window here on Monday.

The investment consists of 338 projects and absorbs at least 9,900 workers.

In order to enhance the economic cooperation between the two countries, the Indonesian Embassy in Abu Dhabi in collaboration with the United Arab Emirates Embassy in Jakarta will host the Indonesia-United Arab Emirates Week on December 15-21, 2020.

The Indonesian Ambassador to the UAE, Husin Bagis, stated that during the week, various meetings and the inauguration of some bilateral cooperation, particularly in the economic and investment sectors, would be held.

“The closeness of the leaders of the two countries should be seen as a positive asset for entrepreneurs and companies of the two countries. This is the golden period for economic diplomacy between the two countries,” the ambassador said.

A number of events during the week will be the inauguration of the First Abu Dhabi Bank (FAB) branch office in Jakarta; signing a memorandum of understanding (MoU) between Binawan and the UAE National Ambulance; signing of the first test contract for Emirates Global Aluminum (EGA) and Indonesia’s Inalum company; and the inauguration of a 145-megawatt Cirata Floating Solar Power Plant (PLTS) by Indonesia’s Pembangkitan Jawa Bali (PJB) and the UAE’s Masdar.

The other events include the signing of a land lease agreement contract between the Research and Development Agency of the Indonesian Ministry of Agriculture and the UAE’s Elite Agro Group; signing of a joint venture development agreement (JVDA) for industrial estates and ports between Indonesia’s Maspion Group and the UAE’s DP World; and the inauguration of the collaboration between Lulu Hypermarket Indonesia and Indonesian Microm, Small, and Medium Enterprises (MSMEs).

In the same week, a number of meetings will be carried out between the UAE delegation and potential partners in Indonesia to explore cooperation.

The UAE delegation will consist of several companies engaged in different sectors, such as agriculture, banking, renewable energy, pump industry, property, power generation and retails.

Among the companies are the Abu Dhabi Developmental Holding Company (ADQ) and Silverpumps.

Reporting by Indonesia Window