ABU DHABI, 9th February, 2022 (WAM) — Mohammed Saif Al-Suwaidi, Director General of the Abu Dhabi Fund for Development, received Husin Bagis, Ambassador of the Republic of Indonesia for the UAE, at the Fund’s headquarters in Abu Dhabi.
Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD, and several officials from both sides also attended the meeting.
During the meeting, the two sides discussed strengthening synergies and discussed identifying mutually beneficial opportunities for ADFD investment in Indonesia as well as potential sustainable economic development projects that align with the Fund’s strategic direction to expand its role in Southeast Asia.
The meeting took place as the UAE continues to advance strategic ‘Projects of the 50th’ initiatives that includes an immediate focus on boosting trade with eight key global markets, including Indonesia.
Al-Suwaidi praised the Indonesian government for their economic success in recent years and said, “In support of the UAE’s long-term economic development and diversification objectives, ADFD is looking at opportunities to make strategic investments in one of Southeast Asia’s largest economies. This is part of a broader strategy by the Fund to expand our relationship with partner countries across Asia that share close economic ties with the UAE. We look forward to immediately building on the success of this meeting and maintaining a fruitful collaboration with Indonesia for years to come.”
Husin Bagis noted the long history of successful cooperation between Indonesia and the UAE, and commented, “We are grateful to ADFD for facilitating this meeting to explore potential collaboration opportunities. Our two countries are connected by both shared mutual values and a history of strong economic ties that continue to grow year on year. ADFD is a high-value strategic investment partner that presents the opportunity to further enhance and expand our economic development relationship with the UAE that can provide immediate and long-term benefit to various fields in both countries.”
Bilateral trade between the UAE and Indonesia reached approximately US$2.5 billion in 2020 with the UAE exporting about US$1.5 billion worth of goods to Indonesia. In March 2021, the UAE announced a US$10 billion investment in Indonesia’s sovereign wealth fund, making the UAE the largest investor in the Indonesia Investment Authority (INA). Trade between the two countries is set to grow further over the coming years with recent private and public sector deals in strategic industries, such as energy, aviation, financial services, artificial intelligence, agriculture and defence.
ADFD’s investment activities include investing in public and private companies, government and corporate bonds along with managed portfolios. The Fund’s investment portfolio focuses on two key areas: Money and capital markets instruments such as bonds and bank deposits, and equity participation through full or partial ownership in new and existing companies. ADFD’s investment strategy is to invest in companies that play a crucial role stimulating economic growth and creating job opportunities for the partner countries in various vital sectors.