Indonesia Targets more investments From UAE

Whatapp News

Jakarta – Indonesia expects to sign more deals with the United Arab Emirates in the energy, health and education sectors during a visit to the country in January by President Joko Widodo.

The coordinating ministry of maritime and investment affairs said this in a statement issued on Monday in Jakarta.

The Indonesian government is keen to attract more foreign investors to boost its economic growth, which has held near five per cent for several years.

Earlier this year, companies from Indonesia and the United Arab Emirates signed agreements worth a total 9.7 billion dollars during an official visit by the Abu Dhabi crown prince to the Southeast Asian country.

During Widodo’s planned visit in January, the government aims to sign a memorandum of understanding with sovereign wealth fund Abu Dhabi Investment Authority (ADIA) “to support infrastructure development Indonesia”, the ministry said.

Indonesian state aluminum company, PT Inalum, is also planning to sign an agreement with Emirates Gold Aluminium to build a 500,000 tonnes-per-year smelter in North Kalimantan province on Borneo Island.

Indonesia’s state-owned energy company PT Pertamina and Abu Dhabi National Oil Company (ADNOC) are expected to sign a deal to upgrade a refinery at Balongan.

Pertamina and Mubadala Investment Company are also expected to agree to expand a refinery in Balikpapan.