Saudi Arabia Seeks Investment in Military, Defense and Armaments Sector in Indonesia

INDUSTRY.co.id - Jakarta, the Indonesian Chamber of Commerce and Industry (Kadin) welcomes delegation from Saudi Arabia to Indonesia.

"We welcome and appreciate the visit of the Saudi Arabian economic delegation to Indonesia," said Vice Chairman of Kadin of Middle East-OKI Committee Muhammad Bawazir after a dinner with Kadin Saudi Arabia at the residence of Saudi Arabian Ambassador in Jakarta, Wednesday (11/4) / 2018) night.

He hopes the visit of your Saudi Arabian economic delegation can bring the positive development as expected so far.

Although there is no target or definitive value of investment that will be agreed between the two countries, but has signed more than 10 trade agreements in almost all sectors except technology, he said.

"Indeed there is no definite value, but I am optimistic that we will develop, it can be seen from the value of trade soaring, so Kadin continues to push for additional, including in strategic industries such as airplanes or other," said Muhammad.

On the occasion, the Saudi Arabian Ambassador to Indonesia Usamah Al-Syu'aiby said that the delegation's visit was to follow up on King Salman's visit last year and to look beyond the potential sectors to invest.

Before King Salman's visit last year, the value of trade between Indonesia and Saudi Arabia was only around Rp48.3 trillion, but post trips jumped almost three times to Rp124.2 trillion, he said.

In addition to investment in the economic sector in general, he also mentioned that the military sector, defense, and weapons are also included in the consideration of Saudi Arabia investment in the country.