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[News] Saudi Arabia Will Invest More In Indonesia
Posted at: 18 March 2020

Finance Minister Sri Mulyani Indrawati hopes to get Saudi Arabia on board to invest more in Indonesia, particularly through the planned sovereign wealth fund that is to be channeled for projects intended to aid the country’s development. 

The minister’s efforts to offer investment projects through the sovereign wealth fund to Saudi Arabia came amid what she described as sluggish economic conditions in the United States and China, two countries that had been Indonesia’s main investment sources. 

She explained that according to a survey — which was unnamed — investments from the US and China had decreased. Meanwhile, investment from Japan, another foreign investor in Indonesia, had been relatively stable. 

“On the other hand, investment from Saudi Arabia has increased significantly. This situation can be optimized to increase the Saudi Arabian investment in Indonesia,” Sri Mulyani said in a written statement on Monday as quoted by kontan.co.id. 

Finance Minister Sri Mulyani Indrawati hopes to get Saudi Arabia on board to invest more in Indonesia, particularly through the planned sovereign wealth fund that is to be channeled for projects intended to aid the country’s development. 

The minister’s efforts to offer investment projects through the sovereign wealth fund to Saudi Arabia came amid what she described as sluggish economic conditions in the United States and China, two countries that had been Indonesia’s main investment sources. 

In 2018, the Middle Eastern kingdom was ranked 40th on the list of Indonesia’s sources for realized foreign investments, with US$5.3 million invested that year, an increase from $3.5 million invested in 2017, according to the Investment Coordinating Board (BKPM).

(source: The Jakarta Globe)