Saudi Arabia Interested in Investing in the New Capital of Indonesia

Arsia News, Jakarta. On the sidelines of the G20 Meeting, on February 23, 2020 Indonesian Minister of Finance Sri Mulyani held a bilateral meeting with the Minister of Finance of Saudi Arabia .H.E. Mohammed Al – Jadaan in Riyadh, Saudi Arabia, discussed investment related matters

In uploading his personal account on Instagram Srimulyani talked about bilateral cooperation between Indonesia and Saudi Arabia that is already underway, namely in the tourism sector. “At present, Indonesian tourists in the Umrah pilgrimage scheme are the largest in Saudi and given the limited Hajj quota”.

Regarding the survey of the perception of the Indonesian people regarding the benefits of cooperation between countries, Saudi Arabia is one of the countries considered to provide positive benefits through cooperation. This must be used to strengthen investment and trade relations in addition to social relations – people to people. he continued in writing on Instagram

On that occasion Saudi Arabia’s finance minister was interested in the development of the capital of New Indonesia and the concept of the Sovereign Wealth Fund (SWF) which is currently being formed by Indonesia to provide financing for the construction of new capitals and other infrastructure developments. So with this latest concept, Saudi Arabia can invest its funds through the Sovereign Wealth Fund (SWF) for the construction of a new capital city

Sri Mulyani explained that the Sovereign Wealth Fund (SWF) would be formed as an investment fund pooling body for direct investment management aimed at giving a greater impact to the Indonesian economy through domestic investment. The Minister of Finance of Saudi Arabia welcomed the proposal positively

At the end of his writing “The Minister of Finance of Saudi Arabia agreed on the potential sectors that could be developed”.