UAE Considers Investing in Indonesia Geothermal, Infrastructure

Submitbookmarker - The United Arab Emirates is considering investing in Indonesia's geothermal, infrastructure, agriculture and tourism sectors, its Minister of Foreign Affairs said Tuesday.

“Indonesia is one of the countries with the largest geothermal resources, we are interested in it and will invest in this sector,“ Sheik Abdullah bin Zayed Al Nahyan told reporters in Jakarta.

Bin Zayed Al Nahyan didn't provide further details. Indonesia is trying to attract investors from the Middle East, whose investment in Southeast Asia's largest economy remains relatively small.

Among Middle Eastern investors who have entered Indonesia are Saudi Telecom Co. (7010.SA), which owns a 51% stake in cellular operator PT Natrindo Selular and MEC Holding, which plans to invest up to $5 billion in coal and supporting infrastructure projects in Kalimantan.