I am convinced that the UAE government would invest more than their earlier committed value, particularly for projects in the new capital city
Jakarta (ANTARA) - Investment Minister and Investment Coordinating Board (BKPM) Chairperson Bahlil Lahadalia confirmed that United Arab Emirates (UAE) investors had shown interest to fund several projects in the new capital city mega project in East Kalimantan.

UAE investors have expressed interest to fund projects in building construction, development of the IT system, and the green industry, the minister stated.

"Our team is currently conceiving a detailed mapping on the investment plan, and we will have a meeting with Minister Pandjaitan (Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan) and the UAE teams to inquire about the details of their desired projects this afternoon. In general, UAE investors are interested in building facilities, IT systems, and green industry development projects," Minister Lahadalia stated at a press conference in Jakarta on Thursday.

The minister vowed to furnish further details regarding the projects to receive funding from UAE investors in two or three weeks.

The minister revealed that from the UAE's US$44.6-billion investment commitment, some US$18 billion of the funding would be handled by the Indonesia Investment Authority that had devised the allotment plan for some US$8 billion out of the total funding at present.

"From the total of US$18 billion, around US$8 billion of the funds have been allotted to several projects by the investment authority, and the allocation for the rest of US$10 billion remain tentative, pending further planning," Lahadalia stated.

The BKPM head confirmed that the UAE government had engaged in intense communication with Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan regarding investment fund allocation in the new capital city project.

"We are yet to seal the deal on the final investment fund allocation, but from the total US$44.6 billion funds, around US$10 billion idle funds could be allocated to new projects, as the rest of the funding had been allotted while possibilities of new funding outside the currently available funding remain open," Lahadalia stated.

The minister is sanguine that the UAE government would offer funds surpassing the total investment value it had committed earlier.

"I am convinced that the UAE government would invest more than their earlier committed value, particularly for projects in the new capital city. I have heard that President Jokowi, Minister Luhut, and the Crown Prince have agreed on a greater investment value, but I will allow Minister Pandjaitan to reveal the final investment value committed by the country," Lahadalia revealed.

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Translator: Ade Irma Junida, Nabil Ihsan
Editor: Sri Haryati
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