In a significant development for UAE-Indonesia relations, President Sheikh Mohamed and Indonesian President Joko Widodo on Wednesday witnessed the announcement of several Memoranda of Understanding (MoUs) and agreements aimed at enhancing cooperation between the two nations.
Among these agreements, Indonesia’s Ministry of State-Owned Enterprises signed a preliminary deal with UAE-based property company Eagle Hills. This MoU, valued at $3 billion, focuses on developing tourism infrastructure in Indonesia, including the construction of hotels, airports, and tourism destinations. A key element of the agreement is the enhancement of infrastructure at Jakarta’s Soekarno-Hatta International Airport.
“The MoU lasts for a year with a possibility to extend it through joint agreement,” said Indonesian Enterprise Minister Erick Thohir. “There is no time period set for the $3 billion investment, giving flexibility on implementation.”
Billionaire Mohamed Alabbar’s Eagle Hills emphasized that the agreement is a major step forward in strengthening tourism and infrastructure in Indonesia. However, the statement did not specify a breakdown of the projects or a timeline for the investment plan.
In addition to this tourism deal, several other agreements were signed. These include the installation of solar energy systems on industrial and commercial rooftops in Indonesia, an MoU on public budget management, and an MoU between the Central Banks of the UAE and Indonesia regarding smart systems. Furthermore, agreements were made on cooperation in the peaceful use of nuclear energy, the establishment of the Mohamed Bin Zayed-Joko Widodo Mangrove Research Centre in Bali, a collaboration between the Dubai International Financial Centre and the Nusantara Capital Authority (OIKN), and a framework agreement on maritime patrol aircraft.
These agreements highlight the deepening ties and collaborative efforts between the UAE and Indonesia, paving the way for significant economic and infrastructural advancements in the Southeast Asian nation.
