Thursday, March 25, 2021

UAE Makes A Big Bet On Indonesia

We noted last August: "As Supply Chains Shift, Indonesia Should Get a Serious Look". And the Emirates are doing more than looking. From Deal Street Asia, March 23:

UAE to invest $10b in Indonesia's sovereign wealth fund

The United Arab Emirates will invest $10 billion in Indonesia’s new sovereign wealth fund to be spent on projects inside Southeast Asia’s biggest economy, the UAE state news agency reported on Tuesday.

This marks the biggest foreign investment commitment for the Indonesia Investment Authority (INA) and the first since its February launch.

Authorities have previously said the INA had also received commitments of up to $10 billion prior to its launch, from global companies and agencies, such as the U.S. International Development Finance Corporation and Japan Bank for International Cooperation, and some foreign pension funds.

Jakarta will seed the fund with $5 billion in cash and other assets. Unlike many other sovereign wealth funds, which manage excess oil revenues or foreign exchange reserves, the INA seeks foreign funds as co-investors to finance the country’s economic development and aid pandemic recovery....


Thorium: "Indonesia’s Nuclear Dream, Revived?"

And many more, though be forewarned a lot of our Indonesia posts are on volcanoes or China encroaching on Indonesia's fishing grounds.