UAE weighs up investment options in Indonesia
Published 09 Mar,2021 via Arab News - Economy JAKARTA - The UAE has announced it is studying investment options for infrastructure development projects in Indonesia before injecting more financial support through the southeast Asian country’s newly launched sovereign wealth fund.
As part of the recent Indonesia-Emirati Amazing Week tour of four cities, UAE Energy and Infrastructure Minister Suhail Al-Mazrouei and his delegation signed several business deals, including a pledge to develop a $500 million tourism resort on an island in Aceh province and a $1.2 billion port and industrial zone development scheme in Gresik, East Java province.
“When we met two years ago, no one was seeing these projects, now we are signing some of these projects,” said the minister, referring to Crown Prince Sheikh Mohammed bin Zayed Al-Nahyan’s visit to Indonesia in July 2019 — the first by a UAE leader since the crown prince’s father visited the country in 1990.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Arab News