January 31, 2025 | 08:56 am
TEMPO.CO, Jakarta - Deputy Minister of State-Owned Enterprises (SOEs) Kartika Wirjoatmodjo said the United Arab Emirates (UAE), as a good investment partner to Indonesia, has committed to invest US$2 billion (approximately Rp32.4 trillion) in several state-owned companies.
The deputy minister said the Middle Eastern country has pledged to invest US$20 billion up to 2030, and the SOEs Ministry will look for projects to allow Indonesian state-owned companies to absorb the funding.
“Around US$2 billion is underway for the SOEs investment,” said Tiko, Kartika’s familiar name, on Thursday, January 30, 2025. “We’ll work on it, one by one.”
Some of the agreed investments include the Abu Dhabi Investment Authority (ADIA) investment in the Java Trans Toll Road Kanci-Pejagan and Pejagan-Pemalang segments. In addition, Tiko mentioned Masdar's investment in PT Pertamina Geothermal Energy and solar panels in Cirata.
Other investments revolve around the tourism sector, which includes port, airport, and hotel developments.
"Abu Dhabi Ports invests in a port in Bengawan. Everything is progressing, but of course there are some negotiations about the commercial and business models. It’s normal,” he said.
"I believe the agreements that we are working on are all ‘big size’ and very promising, especially in renewable energy with Masdar and Mubadala."
Tiko admitted that reaching an investment deal was no easy feat, but he believed that with good governance and bureaucracy, the investment targets are achievable to boost Indonesia’s 5-year goal of 8 percent economic growth.
Meanwhile, UAE Minister of Energy and Infrastructure, Suhail Mohamed Faraj al-Mazrouei, expressed readiness to help Indonesia achieve the 8 percent economic growth target. The minister said such goals will require a large amount of investments.
"We are ready to partner and work with you to achieve that target," he said during the 3rd UAE-Indonesia Roundtable Discussion in Jakarta yesterday.
Furthermore, al-Mazrouei also underscored the significant efforts required to achieve the economic growth target by Prabowo’s administration. The minister emphasized the UAE’s commitment to supporting Indonesia.
Al-Mazrouei also brought up the necessity of boosting the cooperation between Indonesia and UAE, while pushing for swifter negotiation to carry out larger projects in the country. “We are ready to invest if given the opportunity," he said.
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