UAE reaffirms investment in the new capital city through INA

The United Arab Emirates (UAE) reaffirmed on Thursday that it would invest in Indonesia’s new capital city project through an existing US$10 billion funding commitment to the Indonesia Investment Authority (INA). UAE Ambassador to Indonesia Abdulla Salem Obaid Al Dhaheri said that a portion of the funds would be directed toward the new capital project, while the remainder would go to other projects in strategic sectors such as infrastructure, food security, logistics, E-learning, digital infrastructure, and vaccines.

“The UAE is committed to investing in developing a new capital city in Kalimantan, also encouraging other parties to also invest in this project, which is planned as a city built using green and environmentally friendly technology,” Al Dhaheri told The Jakarta Post.

Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan claimed on March 15 that the UAE was willing to invest at least $20 billion through the INA. The UAE Embassy neither confirmed nor denied Luhut’s claim. Al Dhaheri added that the UAE was willing to advise and assist in the planning of the new capital and in building key components such as data centers. “The government and private investors from the UAE will be keen to evaluate potential investments in the new capital in energy and infrastructure in collaboration with INA and the new capital authority,” he said.

March 25, 2022, The Jakarta Post