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Indonesia targets more investments from UAE during visit in January - Metro US

Indonesia targets more investments from UAE during visit in January

Reuters

JAKARTA (Reuters) – Indonesia expects to sign more deals with the United Arab Emirates in the energy, health and education sectors during a visit to the country next month by President Joko Widodo, a ministry statement released on Monday said.

The Indonesian government is keen to attract more foreign investors to help boost its economic growth, which has held near 5% for several years.

Earlier this year, companies from Indonesia and the United Arab Emirates signed agreements worth a total $9.7 billion 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 Coordinating Ministry of Maritime and Investment Affairs said in its statement.

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, the statement said.

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

(Reporting by Wilda Asmarini; Writing by Fransiska Nangoy; Editing by Tom Hogue)

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