Indonesian Coordinating Minister of Maritime Affairs and Investment Luhut Binsar Pandjaitan attends a meeting with his counterpart in the United Arab Emirates (Source: Antara) Jakarta (VNA) - Indonesia and theUnited Arab Emirates (UAE) recently signed many cooperation and businessagreements in the fields of energy, agriculture and sovereign wealth fund (SWF).
The deals were signed by Indonesian CoordinatingMinister for Maritime and Investment Affairs Luhut Binsar Pandjaitan and theUAE’s Crown Prince, Mohammed bin Zayed bin Sultan Al Nahyan in Abu Dhabi.
In a written statement, Pandjaitan said this wasthe initial preparation for President Joko Widodo’s state visit to the UAE inJanuary 2020, noting that it was also to ensure the government-to-government cooperationscheme and business agreements have been conveyed and run well.
The two countries have explored plans toestablish SWF of up to 10 billion USD since September to finance infrastructureprojects in this biggest economy of Southeast Asia.
Last week, Pandjaiatan said 137 billion USDworth of investment is in the pipeline for infrastructureprojects across Indonesia.
Indonesia is currently also in the process ofcompiling an Omnibus Law to provide legal certainty for the SWF, he noted,adding the countries are also preparing a memorandum of understanding (MoU) tosupport infrastructure development in Indonesia, where the Abu Dhabi InvestmentAuthority will be an important partner.
In petrochemicals and petroleum sectors, theagreed cooperation agreements include the MoU of state-own oil company PTPertamina and Abu Dhabi National Oil Company (ADNOC) for the developmentof a refinery in Balongan, then Pertamina and Mubadala for the development of arefinery in Balikpapan.
Some of the others were between state-ownedelectricity company PT Perusahaan Listrik Negara and Masdar for theconstruction of a floating solar panel, between state-owned mining holding PTIndonesia Asahan Aluminium (Inalum) and EGA for the development of an aluminumplant and a hydropower plant in North Kalimantan, and a long-term contractbetween PT Chandra Asri Petrochemical Tbk and ADNOC.
The two countries also inked an agreement inagriculture that will be carried out in West Java and Central Kalimantanprovinces, as well as an MoU between DP World and Maspion for an integratedindustrial area./.
The deals were signed by Indonesian CoordinatingMinister for Maritime and Investment Affairs Luhut Binsar Pandjaitan and theUAE’s Crown Prince, Mohammed bin Zayed bin Sultan Al Nahyan in Abu Dhabi.
In a written statement, Pandjaitan said this wasthe initial preparation for President Joko Widodo’s state visit to the UAE inJanuary 2020, noting that it was also to ensure the government-to-government cooperationscheme and business agreements have been conveyed and run well.
The two countries have explored plans toestablish SWF of up to 10 billion USD since September to finance infrastructureprojects in this biggest economy of Southeast Asia.
Last week, Pandjaiatan said 137 billion USDworth of investment is in the pipeline for infrastructureprojects across Indonesia.
Indonesia is currently also in the process ofcompiling an Omnibus Law to provide legal certainty for the SWF, he noted,adding the countries are also preparing a memorandum of understanding (MoU) tosupport infrastructure development in Indonesia, where the Abu Dhabi InvestmentAuthority will be an important partner.
In petrochemicals and petroleum sectors, theagreed cooperation agreements include the MoU of state-own oil company PTPertamina and Abu Dhabi National Oil Company (ADNOC) for the developmentof a refinery in Balongan, then Pertamina and Mubadala for the development of arefinery in Balikpapan.
Some of the others were between state-ownedelectricity company PT Perusahaan Listrik Negara and Masdar for theconstruction of a floating solar panel, between state-owned mining holding PTIndonesia Asahan Aluminium (Inalum) and EGA for the development of an aluminumplant and a hydropower plant in North Kalimantan, and a long-term contractbetween PT Chandra Asri Petrochemical Tbk and ADNOC.
The two countries also inked an agreement inagriculture that will be carried out in West Java and Central Kalimantanprovinces, as well as an MoU between DP World and Maspion for an integratedindustrial area./.
VNA
