Ambassador Reveals Saudi Investment Plan in New Capital City



Laila Afifa

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  • TEMPO.CO, Jakarta - Saudi Arabian Ambassador to Indonesia, Esam A. Abid Althagafi, said that the kingdom is interested to invest in the new capital city. Esam said the two countries would form an upper assembly to discuss various bilateral cooperations, including investments.

    "Investments is a highlight. One of the main priorities include investments in the new capital city, which would be discussed by the assembly at its first meeting later," he said after meeting with Vice President Ma'ruf Amin, Monday, January 27, reported.

    So far, the value of Saudi's investment in East Kalimantan later is still unknown. However, Esam said that it would be a two-way investment. Not only from Saudi to Indonesia, but the other way around as well. 

    "For the numerous large projects we have in Saudi, we will invite Indonesia's top companies to participate," Esam said.

    In addition to Saudi Arabia, the United Arab Emirates will invest US$22.8 billion for Indonesia, including in the new capital city. Japan's Softbank Group Corp. also had expressed interest to invest in East Kalimantan.