Indonesia signs direct investment deal with Saudi Arabia to promote strategic cooperation
JAKARTA: Indonesia and Saudi Arabia have signed an agreement to promote direct investment and facilitate cross-border capital flows, as Jakarta seeks to attract more Saudi companies to its strategic sectors.
The Saudi Minister of Investment Fahad bin Abduljalil Al-Saif and his Indonesian counterpart Rosan P. Roeslani signed a memorandum of understanding earlier this week, aimed at increasing economic cooperation.
The agreement is a “strategic step toward strengthening investment cooperation between Indonesia and Saudi Arabia,” Roeslani, who was in Jeddah for the signing ceremony, said in a statement on Thursday.
“Beyond the flow of capital, investment serves as an instrument to create jobs, strengthen national industries, drive innovation, and foster economic growth that delivers real benefits for the people.”
