Indonesia, UAE sign USD23B investment deals

JAKARTA (AFP) – Indonesia and the United Arab Emirates (UAE) have struck nearly USD23 billion in business deals, including agreements in the energy sector and on infrastructure projects, the Southeast Asian nation said yesterday.

The investments will be made through a new Indonesian sovereign wealth fund set to also involve Japan’s Softbank and United States (US) International Development Finance Corporation, Jakarta said, without elaborating.

The figure includes nearly a dozen deals signed after a meeting between Indonesian President Joko Widodo and Crown Prince Sheikh Mohammed bin Zayed in Abu Dhabi over the weekend, Widodo said on social media.

File photo shows Indonesian President Joko Widodo (L) and Abu Dhabi’s Crown Prince Mohammed bin Zayed. PHOTO: AFP