Investment Minister Bahlil Lahadalia said the United Arab Emirates (UAE) is committed to investing $32.7 billion, equivalent to Rp469 trillion assuming an exchange rate of Rp14,346 per US dollar, in Indonesia.

“This figure is the total investments handled by the Indonesia Investment Authority (INA) and the Investment Ministry,” he said during an online press conference on Thursday.

The conference was broadcasted on the Presidential Secretariat’s YouTube channel on the first day of Indonesian President Joko Widodo’s working visit to the UAE.

The investment will be allocated to several sectors, such as health, new and renewable energy and port infrastructure, as well as food.

“In the food sector, the investment will improve the quality of our seedlings, so we can achieve a high production value,” said Lahadalia, who is also the Head of the Investment Coordinating Board (BKPM).

In terms of attracting the attention of UAE investors, he said the Indonesian government will help encourage investment, such as by guaranteeing the facilitation of investment licenses and providing incentives.

The investments will also promote further cooperation between UAE investors and Indonesian entrepreneurs, including micro, small and medium enterprises.

“Based on the meeting between the two governments, I assessed that the perception of UAE investors towards Indonesia is getting better each day. The $32.7 billion is generated from UAE investors’ trust and confidence in Indonesia,” Lahadalia explained.

President Widodo will continue his working visit on Thursday local time to meet UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum, as well as a number of business leaders.

Lahadalia expects the investment forum held on Thursday to increase the country’s investment value to be more than $35 billion.

Source: Antara News