JAKARTA: Indonesia is targeting $10 billion (Dh36.7 billion) investments from the UAE in a wide range of sectors including oil and gas, hospitality and power generation, the country’s ambassador, Husin Bagis, told Gulf News in an interview on Thursday.
Currently a number of UAE-based companies are investing in Indonesia including Mubadala Petroleum, Lulu Group, DP World and Dubai Islamic Bank.
The total investments from the UAE are around $2 billion with Mubadala and Lulu Group investing about $500 million each in oil and gas and retail sectors respectively.
Mubadala Petroleum is developing the Ruby gasfield in Makassar in partnership with Total and Inpex South Makassar Limited whereas Lulu group is setting up hypermarkets and cold storage facilities.
There are also other investments from the UAE in agriculture, hospitality, transportation, telecommunication, food, mining and textile industries.
He said a high-level team from renewable energy company Masdar would be visiting Indonesia soon to look for potential opportunities to develop clean energy projects.
According to the Indonesian Embassy in Abu Dhabi, the Indonesian government is targeting to increase the usage of renewable energy in the total energy mix from 19.6 per cent to 22.5 per cent by 2025.
The bilateral trade between Indonesia and the UAE is about $2.9 billion for the year 2016, down by about 10 per cent compared to the previous year, according to statistics provided by the embassy.
Indonesia exports cars, textiles, jewellery among others things to the UAE, whereas it imports oil and gas and chemical products.
The ambassador expects the trade figure to jump to about $4 billion in the coming years as the country seeks to strengthen its ties with the UAE.
