Bogor, West Java The United Arab Emirates (UAE) is planning to invest in a container port and industrial zone in Gresik, East Java Province.
"The preparations are going on. Hopefully, the construction will begin in 2021 at the latest. I will ask them to start earlier," Transportation Minister Budi Karya Sumadi said at the Bogor Presidential Palace in West Java, Wednesday. The UAE's investment in the infrastructure projects in Indonesia will be worth US$1.2 billion.
The investment sharing pattern between Indonesia's private sector and the UAE will be 51:49.
President Joko Widodo (Jokowi) and the visiting Abu Dhabi Crown Prince, Sheikh Mohamed bin Zayed Al Nahyan, earlier witnessed the exchange of agreement documents between the businessmen of both countries.
The agreements included a Memorandum of Understanding between DP World represented by CEO Sultan bin Sulayem and Maspion represented by CEO Alim Markus.
The container port to be constructed at the Maspion industrial zone in Gresik is expected to have a capacity of three million TEUs. The Crown Prince of Abu Dhabi arrived in Indonesia Wednesday where he was welcomed by President Jokowi.
Jokowi and Sheikh Mohamed bin Zayed planted a resin tree (Agathis dammara or (Lamb.) Rich) in the yard of the Bogor Presidential Palace, Wednesday.
The tree planting was part of a series of activities during the visit of His Highness Sheikh Mohamed bin Zayed to Indonesia.
Related news: President Jokowi, Sheikh Mohamed plant resin tree at Bogor Palace
Indonesia and the UAE are on the same page in terms of increasing bilateral cooperation in 12 areas, particularly in the economic sector.
"From the substance of (issues) discussed, the first is how the two countries can enhance economic cooperation. Hence, the discussion of economic issues is very dominant," Indonesian Foreign Minister Retno Marsudi stated at the Bogor Presidential Palace Wednesday.
Under the efforts to boost cooperation, both nations inked Memoranda of Understanding (MoUs) for cooperation in nine out of the 12 areas.
Foreign Minister Marsudi signed two MoUs on the protection of bilateral investment and the joint committee for consular affairs with UAE Home Affairs Minister Sultan bin Ahmad Sultan Al Jaber.
In the defense sector, Defense Minister Ryamizard Ryacudu signed a Letter of Intent (LoI) with Al Jaber.
In the Maritime and Fishery sector, Minister of Maritime Affairs and Fisheries Susi Pudjiastuti signed an MoU with Al Jaber.
Finance Minister Sri Mulyani Indrawati signed an MoU on the avoidance of double taxation with Al Jaber, while an MoU on customs and excise duties was inked with Minister of Economy Sultan bin Saeed Al Mansouri.
Tourism Minister Arief Yahya inked an MoU with Al Mansouri with regard to the sector.
Source: Antara News