Jokowi to Leave for UAE to Secure Rp163tn Investment Deal



Petir Garda Bhwana

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  • TEMPO.CO, JakartaPresident Joko “Jokowi” Widodo is scheduled to witness the signing of the investment agreement with the United Arab Emirates (UAE) in Abu Dhabi on January 13, said Foreign Affairs Minister Retno Marsudi.

    According to Minister Retno, the President will depart to UAE on January 11.

    “This is the President’s first [overseas] visit in 2020 for a bilateral meeting. The meeting will take place in Abu Dhabi and Dubai,” said Retno at the Coordinating Ministry of Maritime Affairs and Investment Office, on Tuesday, January 7.

    The UAE reportedly committed to investing US$18.8 billion or Rp163 trillion to Indonesia’s multiple sectors. The figure was lower than previously said by the Coordinating Minister of Maritime Affairs and Investment Luhut Binsar Pandjaitan.

    Luhut said the investment amounted to US$20 billion, which would be prioritized to the energy sector.

    Four energy projects to be funded worth US$16 billion include two oil refineries of Balongan and Balikpapan that will be developed by state-run oil and gas firm Pertamina, the floating photovoltaic (PV) power plant by state-run electricity firm PLN, and a project of state-run mining company Inalum. For the initial stage, the UAE would disburse fresh funds worth US$3.9 billion.