President Sheikh Mohamed and Indonesian President Joko Widodo on Wednesday witnessed the announcement of several Memoranda of Understanding (MoUs) and agreements aimed at further developing cooperation between the UAE and Indonesia. These included: An agreement to instal solar energy systems on industrial and commercial rooftops in Indonesia; an MoU on public budget management; an MoU between the Central Bank of the UAE and the Central Bank of Indonesia regarding smart systems; an MoU on cooperation in the peaceful use of nuclear energy; an MoU between the UAE Presidential Court and the Indonesian Ministry of Maritime Affairs and Investment on the establishment of the Mohamed Bin Zayed-Joko Widodo Mangrove Research Centre in Bali, Indonesia; an MoU between the Dubai International Financial Centre and the Nusantara Capital Authority (OIKN); an MoU between Indonesia’s Ministry of State-Owned Enterprises and Eagle Hills Properties on cooperation in real estate development, tourism investment, and the management of airports and hotels; and a framework agreement on maritime patrol aircraft.
Indonesia’s ministry of state-owned enterprises also signed a preliminary agreement with UAE-based property company Eagle Hills to develop tourism infrastructure in the Southeast Asian country, it said on Wednesday.
The Memorandum of Understanding (MoU) was for a $3 billion deal covering development of hotels, airports and tourism destinations, the ministry said in a statement issued during the visit of President Joko Widodo to the UAE.
The statement did not provide a breakdown of the projects or their value, nor a timeline for the investment plan, but a separate statement from Eagle Hills said that key aspects of the agreement included infrastructure enhancement at Jakarta’s Soekarno-Hatta International Airport.
“The MoU lasts for a year with a possibility to extend it through joint agreement,” Indonesian enterprise minister Erick Thohir said in the statement.
“There is no time period set for the $3 billion investment, giving flexibility on implementation.”