UAE will invest US$10 billion in Indonesia, under Sheikh Mohamed bin Zayed’s directives
The UAE has announced that it will invest US$10 billion with the Indonesia’s sovereign wealth fund — Indonesia Investment Authority, under the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan.
Investments will focus on strategic sectors in Indonesia, including infrastructure, roads, ports, tourism, agriculture, and other promising sectors that have potential for growth and can contribute to growth as well as economic and social progress.
The UAE and Indonesia enjoy strong political, economic and cultural ties. Official diplomatic relations between the two countries began in 1976, with the Indonesian embassy in Abu Dhabi opening on October 28, 1978. The UAE embassy in Jakarta was inaugurated in 1991, following a historic visit by the late Sheikh Zayed bin Sultan Al Nahyan to Indonesia in 1990.