Indonesia has received $3 billion in investment for the tourism sector from a prominent United Arab Emirates-based developer to promote the Nusantara Capital City (IKN) project during a high-level visit led by President Joko Widodo.
State-Owned Enterprises Minister Erick Thohir claimed the “groundbreaking” investment would significantly boost economic growth opportunities for Indonesia’s tourism ecosystem and infrastructure.
President Jokowi arrived in Abu Dhabi with a closed delegation and embarked on a day-long series of events on Tuesday, including meetings with President Sheikh Mohammed bin Zayed (MBZ) and Emirati entrepreneurs, to push for funding for the Nusantara project.
Speaking to reporters ahead of the flight at Halim Perdanakusuma Air Base in Jakarta, President Jokowi told Indonesia-UAE economic ties would be at the centre of his short visit.
During his meeting with MBZ on Wednesday, President Jokowi highlighted several bilateral cooperation plans, including expanding trade, advancing the Indonesia-UAE Comprehensive Economic Partnership Agreement (CEPA) and jointly building a landing ship dock (LPD).
“[On] “This strategic investment will only strengthen cooperation between the UAE and Indonesia,” Jokowi said during the bilateral meeting, stressing that Indonesia’s current focus was on developing the IKN.
Every Monday, Wednesday and Friday morning.
Delivered direct to your inbox three times a week, this curated briefing covers a wide range of topics from politics to culture and society, providing a concise overview of the most important issues of the day.
Thank you for signing up for our newsletter!
Check your email to subscribe to our newsletter.
View more newsletters
Also read: President Jokowi heads to UAE to promote Nusantara
