UAE keen to partake in Indonesian new capital development

UAE keen to partake in Indonesian new capital development

President Joko Widodo (Jokowi) and Sheikh Mohammed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi, held a bilateral meeting on Jan 12, 2020. ANTARA/HO-Indonesian State Palace Public Relations/h-fdh

Hence, with this sovereign wealth fund, the Crown Prince expressed his commitment to join
Abu Dhabi (ANTARA) - Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, expressed interest to participate in the construction of Indonesia’s new capital city in Indonesia under the sovereign wealth fund (SWF) concept.

"Hence, (we) specifically discussed the development of a new capital city. Hence, with this sovereign wealth fund, the Crown Prince expressed his commitment to join," Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Panjaitan stated at a press conference at the Emirates Palace in Abu Dhabi on Sunday night.

Panjaitan, Foreign Minister Retno Marsudi, Coordinating Minister for Economic Affairs Airlangga Hartarto, State Enterprises (BUMN) Minister Erick Thohir, and Indonesian Ambassador to the UAE Husin Bagis held a press conference after accompanying President Jokowi during a state event at the Qasr Al Watan Palace in Abu Dhabi.

The UAE’s intent to be involved in various investment projects in Indonesia, including the construction of a new capital, was conveyed at a bilateral meeting between Jokowi and the Crown Prince.

"It was mentioned that the value would be the biggest as compared to IDFC or Softbank funds and others," he said.

In response to the Crown Prince's interest, President Jokowi requested him to lead the steering council for the new capital city construction.

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