Extraordinary! Two Days Visit To UAE, Jokowi Successfully Brings Investment Commitment Of IDR 469.9 Trillion

President of the Republic of Indonesia, Joko Widodo. (Photo: Doc. Antara)

JAKARTA - President Joko Widodo's two-day visit to the United Arab Emirates (UAE) has resulted in business commitments and investments worth US$32.7 billion or around Rp469.9 trillion.

"The two leaders discussed the progress of investment cooperation between the two countries. For information, during this visit there were business and investment commitments worth US$32.7 billion from 19 cooperation agreements that will be exchanged tomorrow in Dubai," said the Foreign Minister (Foreign Minister) Retno Marsudi in her statement at the Emirates Palace Hotel, Abu Dhabi, quoted from Antara, Thursday, November 4.

Foreign Minister Retno explained that the business and investment commitments were discussed when President Jokowi met with the Crown Prince of Abu Dhabi, Sheikh Mohammed Bin Zayed Al Nahyan (MBZ) at the Al-Shatie Palace, Abu Dhabi.

Retno detailed that the business and investment commitments include cooperation between the Indonesia Investment Authority (INA) and the Abu Dhabi Growth Fund (ADG), INA and DB World, "floating solar panels" between Masdar and Pertamina, "refinery" Balikpapan, manufacturing and distribution of vaccines and "bio products".

In addition, there are various agreements made by technology companies from Abud Dhabi G42 with partners in Indonesia, including in the fields of "smart cities", telecommunications, development of "genomic" laboratories and so on.

"In total, the value of the commitments obtained up to this point during this visit is US$32.7 billion. In the investment sector, the Minister of Investment will still hold investment meetings and there will also be meetings with large American companies which hopefully there will be commitments. new commitment," said Retno.

On the same occasion, the Minister of Investment/Head of the Investment Coordinating Board (BKPM), Bahlil Lahadalia, explained that Indonesia will provide a red carpet for all countries to realize investment in Indonesia and not only lean towards one country.

On that basis, the Minister of Investment will enter into an agreement with one of the entrepreneurs from America.

"Now we are conducting final negotiations until midnight, which will include downstreaming. Why downstreaming? One of the great visions of the President in point five is about how to build economic transformation where economic transformation is in the form of added value by industrialization. This will we will make it and we will announce it tomorrow," said Bahlil.

Bahlil hopes that the existing value of US$32.7 billion can be increased to at least above US$35 billion.

Previously, when President Jokowi met with investors in Glasgow on the sidelines of the COP26 World Leaders Summit, Indonesia also received an investment commitment of 9.2 billion US dollars, bringing the total investment commitments to the UAE to 41.99 billion dollars. US.

In addition to investment, the meeting between President Jokowi and Prince MBZ also discussed issues in the trade sector.

The two leaders agreed that the Comprehensive Economic Partnership Agreement (CEPA) between the two countries could be concluded immediately.

"Negotiations have been held several times and the President hopes that in March 2022 the negotiations can be completed," said Foreign Minister Retno.