Weighing Offer from UAE’s Sovereign Wealth Fund

By Editorial Team 23/09/2019
Summary

The Coordinating Ministry for Maritime Affairs received the sovereign wealth fund (SWF) establishment proposal from the United Arab Emirates government. Maritime Coordinating Minister Luhut Panjaitan said the Indonesian delegation had discussed with the Abu Dhabi Investment Authority (ADIA), Energy Minister, Mubadala CEO, and several high-ranks officials in Abu Dhabi related to the SWF.

The meeting resulted in two possible outcomes, namely the ADIA's investment worth approximately US$ 1 billion to property and real estate projects, including the development of tourist destinations and other private plans, and the establishment of Indonesian SWF that will become investment funds pooling from various countries, including UAE. Therefore, investments in Indonesia could increase gradually to US$ 5 billion-US$ 10 billion. These funds could also be channeled to infrastructure projects or general investments.

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