Indonesia and Saudi Arabia Sign $27 Billion Investment Agreements
Jeddah, The Gulf Observer: Indonesia and the Kingdom of Saudi Arabia have agreed to invest approximately US$27 billion (around IDR 437 trillion) across a broad range of strategic sectors, including clean energy, petrochemicals, and aviation fuel services. The landmark investment was formalized during a bilateral meeting between Indonesian President Prabowo Subianto and Saudi Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud (MBS) at Al-Salam Palace in Jeddah on Wednesday.
In a joint statement, both leaders welcomed the signing of several agreements and memoranda of understanding (MoUs) between private sector entities, reflecting their shared ambition to forge a robust and advanced economic partnership.
“Both parties welcome the signing of a number of agreements and memoranda of understanding during this visit between private sector institutions, worth around 27 billion US dollars, in several fields, including clean energy, petrochemical industry, and aviation fuel services,” the statement read.
Strategic Health and Investment Cooperation
President Subianto and Crown Prince MBS emphasized their shared commitment to enhancing cooperation in the health sector, particularly with regard to the implementation of health requirements for Hajj and Umrah pilgrims. Both sides agreed to support increased investment in the pharmaceutical industry, vaccine development, health technology, and human resource development.
Broadening Partnerships in Key Sectors
The two countries also reiterated their intention to deepen cooperation across several strategic sectors. These include the digital economy, judicial reform, labor, culture, tourism, youth and sports, education, scientific research, industry and mining, agriculture, fisheries, and food security. Both sides acknowledged the importance of improving air connectivity to support people-to-people exchanges and economic integration.
Enhanced Defense and Security Collaboration
In the field of defense and security, both nations pledged to expand cooperation to serve mutual interests and contribute to regional and global stability. Areas of focus include joint efforts in counterterrorism, combating extremism, cybersecurity, as well as the exchange of intelligence, expertise, and training programs.
The joint statement underscored a mutual commitment to eradicating terrorism and all forms of criminal activity, including the financing of such threats, and strengthening collaborative mechanisms to address emerging security challenges.
Shared Global Vision
Indonesia and Saudi Arabia further emphasized the importance of cooperation within multilateral frameworks, such as the International Monetary Fund (IMF), World Bank, Organization of Islamic Cooperation (OIC), G20, and the Non-Aligned Movement. The leaders reaffirmed their shared dedication to addressing global challenges and promoting common interests through these international platforms.
The visit marks a significant step in elevating Indonesia–Saudi Arabia relations to new heights, with both nations aligning their strategic visions in support of economic growth, regional stability, and global cooperation.
