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Indonesia's Minister of Maritime Affairs said that the government is considering investment proposals from the Abu Dhabi Investment Authority (ADIA) worth at least $1 billion, reported Reuters.
Luhut Pandjaitan, Indonesia Minister of Maritime Affairs, said that the proposals offer two scenarios for Abu Dhabi’s sovereign wealth fund to invest in Southeast Asia's largest economy.
The first scenario could see the fund directly investing around $1 billion in property projects including in tourism areas and another option is for Jakarta to set up a new Indonesia Sovereign Wealth Fund (SWF), which will become a pool for funds from various foreign governments and the UAE could contribute up to $10 billion in stages for infrastructure financing or other investments.
UAE officials are expected to visit Indonesia next month to meet with the finance ministry and Sarana Multi Infrastruktur (PT SMI) to discuss the scheme, regulations and laws needed to support the formation of the SWF,” said Pandjaitan.
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