Indonesia, UAE sign $23bn worth of business deals

Indonesia’s President Joko Widodo talks to Abu Dhabi’s Crown Prince Sheikh Mohammed bin Zayed during a meeting at the presidential palace in Bogor, Indonesia, July 24, 2019. (Reuters)
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Updated 13 January 2020

Indonesia, UAE sign $23bn worth of business deals

  • President Joko Widodo witnessed the signing of the deals with Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed during an official visit to Abu Dhabi
  • Widodo, who began his second term in office in October, is keen for an increase in foreign investment to help create jobs and boost growth

JAKARTA: Indonesia signed 11 business deals with the United Arab Emirates worth a combined 314.9 trillion rupiah ($23 billion) covering investment in energy and other sectors, President Joko Widodo said on Monday.
Widodo witnessed the signing of the deals with Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed over the weekend during an official visit to Abu Dhabi, the Indonesian president said in a tweet.
Widodo, who began his second term in office in October, is keen for an increase in foreign investment to help create jobs and boost growth in Southeast Asia’s biggest economy, where economic growth has hovered at around 5% for several years.
In the petrochemical and gas sectors, Abu Dhabi National Oil Company (ADNOC) signed deals with Indonesian companies PT Pertamina and PT Chandra Asri Petrochemicals , UAE state news agency WAM reported.
It said they included an agreement for ADNOC to supply 528,000 tons of liquid petroleum gas (LPG) to Pertamina by the end of 2020.
Pertamina and ADNOC signed a memorandum of understanding to explore the potential development of a petrochemicals complex in Balongan, West Java, ADNOC said in a statement on Monday.
The agreements with the Indonesian firms “will potentially help ADNOC to secure in-market presence in one of Southeast Asia’s fastest-growing economies,” Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said in the statement.
Widodo said five agreements were also signed between the governments. They covered education, health, agriculture and counter-terrorism, according to Foreign Minister Retno Marsudi.
Widodo and the crown prince also discussed a plan to establish a sovereign wealth fund, said Indonesia’s Coordinating Minister for Maritime and Investment Affairs, Luhut Pandjaitan.
Japan’s Softbank and the US International Development Finance Corp. (IDFC) were also interested in taking part in the fund, a statement from Pandjaitan said.
The UAE would be able to use the fund to invest in the development of Indonesia’s proposed new capital in East Kalimantan province on Borneo island.
It is also interested in investing in a property development in Aceh province on the island of Sumatra, Pandjaitan said.


Japan’s ANA Holdings says buying 20 more Boeing 787 Dreamliners

Updated 25 February 2020

Japan’s ANA Holdings says buying 20 more Boeing 787 Dreamliners

  • The price tag for the purchases was not disclosed
  • Planes expected to go into service between financial years 2022 and 2025

TOKYO: Japan’s ANA Holdings said Tuesday it will buy 20 new Boeing 787-10 and 787-9 aircraft, with the planes expected to go into service between 2022 and 2025.
The order will be made up of 11 787-10 aircraft, which will serve domestic routes, and nine 787-9 planes for international destinations.
The price tag was not disclosed.
All Nippon Airways has been gradually replacing its Boeing 777s with 787s, citing better fuel efficiency and a reduction in noise emissions.
Once all 20 of the newly ordered planes go into service, ANA will operate some 103 787s, the firm said.
“Boeing’s 787s have served ANA with distinction, and we are proud to expand our fleet by adding more of these technologically advanced aircraft,” said Yutaka Ito, executive vice president of ANA and ANA Holdings, in a statement.
“These planes represent a significant step forward for ANA as we work to make our entire fleet more eco-friendly and to reduce noise output,” Ito added.