Dubai, United Arab Emirates (CNN) – The United Arab Emirates announced that it will invest $ 10 billion with the Indonesian Investment Authority, through its governmental and private investment tools and instruments.
The Emirates News Agency said in a statement that the decision, which came in implementation of the directives of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, will focus on investing in strategic sectors with Indonesia, including infrastructure, roads, ports, tourism, agriculture and other vital sectors. With great prospects and potential for growth and contributing to the promotion of economic and social growth and progress in Indonesia. “
The Indonesian Investment Authority is the country’s sovereign fund, and aims to implement strategic projects that support national development in Indonesia, including infrastructure development and construction of the new capital in Kalimantan, according to the statement.
In February 2021, Indonesian President Joko Widodo announced the appointment of the members of the Supervisory and Executive Board of the Indonesian Investment Authority, which was formed under the Comprehensive Job Creation Law, which was approved in October of 2020.
