RIYADH, 26 April 2006 — Custodian of the Two Holy Mosques King Abdullah held wide-ranging talks with Indonesian President Susilo Bambang Yudhoyono, who arrived here yesterday to seek investment and discuss bilateral and international issues of common concern. The talks continued late into the night amid reports that Indonesia hopes to raise some $8 billion in investment from Saudi Arabia and other Middle Eastern countries.
“The summit talks covered the whole gamut of bilateral, regional and international issues with special reference to trade and investment relations between Riyadh and Jakarta,” said Arif Suyoko, a spokesman of the Indonesian Embassy.
Upon arrival, the king, Crown Prince Sultan and Riyadh Governor Prince Salman received the Indonesian president at the Riyadh Airbase.
“The visit is aimed at promoting trade and investment relations besides reviewing other aspects of our relationship,” said Indonesian State Minister for State Enterprises Sugiharto, adding that offering investors Shariah and sukuk bonds in the Middle East would help raise funds for his country. Under this plan, the investors would jointly own project equipment and assets in exchange for their financing. Indonesia is seeking foreign direct investments in ports, turnpikes and other construction projects.
Despite sharing very cordial relations with Saudi Arabia and other countries in the region, Indonesia has not been able to attract many investments from the Middle East. Saudi Arabia and Jordan together invested only $2.4 million in Indonesia last year.
