Jokowi, MBZ discuss financial hub for Indonesian archipelago

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Jakarta(ANTARA) –
Indonesian President Joko Widodo (Jokowi) and United Arab Emirates President Mohammed bin Zayed Al Nahyan (MBZ) discussed cooperation in developing a financial hub in Nusantara, Indonesia’s new capital.

Indonesian Foreign Minister Retno Marsudi conveyed the news at a press conference after accompanying Jokowi to a meeting in Abu Dhabi, United Arab Emirates on Wednesday.

She said the financial centre plan was included in the memorandum of understanding (MoU) signed between Indonesia’s Minister of Public Works and Public Housing and the Dubai International Financial Centre (DIFC).

“After the signing of the MoU, there will be a visit by a technical delegation to start discussing the preparations for cooperation,” Marsudi said.

She pointed out that the second topic discussed by the leaders of the two countries was cooperation in developing the nickel raw materials industry.

Indonesia has abundant nickel reserves and has formed a nickel downstream ecosystem, especially in the battery and electric vehicle (EV) sectors.

“President Jokowi invited the UAE to invest in the electric vehicle industry from upstream to downstream,” Marsudi said.

In addition to the private meeting, the two leaders held bilateral meetings and witnessed the announcement of eight outcomes of the agreement:

a memorandum of understanding between Indonesia’s Ministry of State-Owned Enterprises and UAE real estate developer Eagle Hills on tourism and air transport;

The Nusa Tenggara Capital Authority (OIKN) and the Dubai International Financial Centre Authority signed a memorandum of understanding on the establishment of a financial centre in Nusa Tenggara;

a memorandum of understanding between Indonesia’s National Research and Innovation Agency (BRIN) and the Emirates Nuclear Energy Corporation (ENEC) on nuclear energy;

Memorandum of Understanding between Bank Indonesia (BI) and the UAE Central Bank (UAECB) on payment systems;

Memorandum of Understanding between the Ministry of Finance of Indonesia and the UAE on Public Financial Management;

Framework agreement between PT Dirgantara Indonesia and PAL Aerospace for the transfer of maritime patrol aircraft and anti-submarine warfare technology;

PLN Icon+ signed a memorandum of understanding with the UAE’s state-owned renewable energy company to conduct joint assessments and commercial and industrial studies of rooftop solar installations in Indonesia;

Indonesia’s Coordinating Ministry for Maritime Affairs and Investment has signed a memorandum of understanding with the UAE’s Mohamed bin Zayed Species Conservation Foundation to establish the Sheikh Mohamed bin Zayed and Joko Widodo International Mangrove Research Center in Bali.