Indonesia Eyes UAE, Saudi Investments to Aid Economic Recovery Post-Pandemic

JAKARTA, KOMPAS.com – Two Indonesian economic ministers held talks with leaders of the United Arab Emirates and Saudi Arabia, seeking opportunities for enhanced cooperation to support recovery efforts post-coronavirus pandemic.

Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan and State-Owned Enterprises Minister Erick Thohir visited Abu Dhabi and Riyadh recently.

A statement issued by the Ministry of State-Owned Enterprises on Thursday said that the visit was aimed at strengthening strategic relations in the field of investment and economics, especially after the pandemic era.

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During their visit to the two Gulf countries, they met with Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the UAE Armed Forces Mohammed bin Zayed Al Nahyan, Saudi Arabia’s Investment Minister Khalid al-Falih, and Saudi Arabia’s Finance Minister Ibrahim Abdulaziz Al-Assaf.

Minister Luhut underscored the need for establishing closer bilateral cooperation with each country to restore the economy post-pandemic.

He said that the arrival of the Covid-19 vaccine has brought good news in the economic sector, but without real cooperation in investment and the economy, Indonesia may not reach optimal economic recovery.

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Meanwhile, Erick hoped to see the participation of UAE and Saudi Arabia in Indonesia’s sovereign wealth fund and government projects.

“This includes investments in the state-owned Sharia banks, Mandalika Special Economic Zone, as well as the plan to build Indonesian Houses in Mecca for Umrah and Haj pilgrims,” Erick said.

During the meetings, Erick also gave presentations about the transformation of Indonesia’s state-owned companies that is more efficient and in line with good corporate governance. Besides, he added, the performances of many state firms in the capital market are much appreciated.

“The progress of the transformation is also highly appreciated by the governments of the UAE and Saudi Arabia,” he said.

(Writer: Akhdi Martin Pratama | Editor: Yoga Sukmana)

Source: https://money.kompas.com/read/2020/12/10/210213226/erick-thohir-dan-luhut-rayu-investor-dari-uea-dan-arab-saudi.