Minister Jonan expecting US$5b investment from UAE
Saturday, July 6 2019 - 07:33 AM WIB
Minister for Energy and Mineral Resources (MEMR) Ignasius Jonan said the United Arab Emirates (UAE) has expressed its commitment to invest over US$5 billion in Indonesia, including in energy and infrastructure sectors.
The commitment of the UAE was conveyed to the government of Indonesia during the visit of the UAE Minister of Energy and Industry Suhail Mohamed Faraj Al Mazrouei on Friday (06/06), who was appointed to the current post in 2013.
"In line with the direction, the President (Joko Widodo) wants investment from the Uni Arab Emirates in particular, and Middle East in general. The total (investment) target is over US$5 billion, which is being discussed," Minister Jonan told reporters at the MEMR office building on Friday.
Minister Jonan said the UEA government is also seeking for cooperation in non-energy sector such as infrastructure, finance and tourism, which is expected to create more employment opportunities to Indonesians.
Minister Suhail said UAE plans to make packages of investment worth multi-billion US dollars for Indonesia.
He said Indonesia offers huge investment potentials given the fact that Indonesia is currently the 16th biggest economy in the world and on its way to become the world's 10 biggest economy.
In energy sector, UAE is looking to invest in upstream oil and gas industry in cooperation with Pertamina. UAE, he said, hopes to hold further discussion with Pertamina.
Editing by Roffie Kurniawan