The investment was formalized during a bilateral meeting between Indonesian President Prabowo Subianto and Crown Prince and Prime Minister of the Kingdom of Saudi Arabia Prince Mohammed bin Salman bin Abdulaziz Al Saud, better known as MBS, at Al-Salam Palace, Jeddah, Saudi Arabia, on Wednesday.
"Both parties welcome the signing of a number of agreements and memoranda of understanding during this visit between private sector institutions, worth around 27 billion US dollars, in several fields, including clean energy, petrochemical industry, and aviation fuel services, reflecting their aspirations for an advanced economic partnership," the leaders stated in a joint statement.
Subianto and MBS expressed their shared aspirations to strengthen strategic cooperation in the health sector, particularly concerning the implementation of health requirements for Hajj and Umrah.
Both sides committed to supporting investment in the pharmaceutical, vaccine, health technology industry, and human resource development sectors.
In addition, both countries emphasized the importance of strengthening partnerships in various other strategic sectors.
The sectors include the digital economy, justice system, employment, culture, tourism, youth and sports, education and scientific research, industry and mining, agriculture, fisheries and food security, as well as improving flight connectivity.
In the defense and security sector, the leaders agreed to deepen cooperation to serve mutual interests and contribute to regional and global stability. The main focus encompasses cooperation on counterterrorism, combating extremism, cybersecurity, and the exchange of information and training.
Both sides affirmed their commitment to strengthening joint security cooperation and coordination on shared concerns, including eradicating all forms of crime, terrorism, and extremism and their financing, as well as strengthening cooperation in cybersecurity and the exchange of information, expertise, and training.
Both countries further underscored the importance of cooperation in multilateral forums, such as the International Monetary Fund (IMF), World Bank, Organization of Islamic Cooperation (OIC), G20, and the Non-Aligned Movement, to address global challenges and advocate for common interests.
Translator: Martha Herlinawati Simanjuntak
Editor: Aditya Eko Sigit Wicaksono
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