Jakarta, The Indonesia Post – The Indonesia Investment Authority (INA) signed an investment framework agreement with the Abu Dhabi Growth Fund (ADG) to support investment from the United Arab Emirates (UAE) worth US$10 billion through INA.
In an official statement received in Jakarta, Saturday, the signing of the agreement was carried out by ADG Chief Executive Officer Khalifa Sultan Al Suwaidi and Chairman of the Board of Directors of INA Ridha Wirakusumah in Dubai, United Arab Emirates.
This partnership will be the foundation for ADG and INA to work together through an agile approach in various forms of high-yield financial investments, both liquid and non-liquid equity strategies.
The signed agreement aims to place capital in various financial instruments.
The UAE will become the largest anchor investor in INA after the announcement of a $10 billion injection at the direction of the UAE Crown Prince Mohammed bin Zayed al-Nahyan in March 2021.
The UAE and Indonesia have had strong political, economic and cultural ties with diplomatic relations officially starting in 1976.
These diplomatic relations have been further strengthened in recent years as trade flows have increased.
Throughout this year, a series of cooperation agreements have been made between the UAE and Indonesia in strategic sectors such as infrastructure, tourism and agriculture.
In September, the two countries also jointly drafted the Indonesia-United Arab Emirates Comprehensive Economic Partnership Agreement (IUAE-CEPA).
The IUAE-CEPA is projected to be able to improve trade relations, as well as expand economic and investment opportunities. (jek/bbs)
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