Latest news with #GoldenIndonesiaVision2045
Leaders
03-07-2025
- Business
- Leaders
Saudi Arabia, Indonesia Foster Ties with $27bn Investment Deals
Saudi Arabia and Indonesia have further deepened their ties by signing several deals and memoranda of understanding (MoUs) during the visit of the Indonesian President, Prabowo Subianto, to the Kingdom, according to the Saudi Press Agency (SPA). The visit witnessed the signing of numerous deals and MoUs between the private sector institutions in both countries, amounting to nearly $27 billion across multiple fields, including clean energy, petrochemical industries, and aviation fuel services. Saudi-Indonesian Ties On Wednesday, the Saudi Crown Prince and Prime Minister, Mohammed bin Salman, received Subianto at Al-Salam Palace in Jeddah, where they reviewed bilateral relations and explored ways to strengthen them across various fields. Moreover, Crown Prince Mohammed bin Salman and President Subianto co-chaired the first Saudi-Indonesian Supreme Coordination Council meeting, during which they endorsed the Council's governance and a number of recommendations to enhance joint cooperation in areas of common interest. Bilateral Trade In terms of economy, trade and investment, both sides underscored the strength of their economic ties. They agreed on fostering bilateral cooperation, particularly in priority sectors, supporting partnerships between the private sectors in both countries, and leveraging the opportunities provided by Saudi Vision 2030 and Golden Indonesia Vision 2045 to enhance cooperation across various fields. Furthermore, they hailed bilateral trade, which amounted to approximately $31.5 billion over the past five years, making Saudi Arabia the top trading partner for Indonesia in the region. They also welcomed the positive outcomes of the negotiations for a Free Trade Agreement between the Gulf Cooperation Council (GCC) countries and Indonesia, which took place in September 2024 and February 2025. Strategic Partnerships Both sides stressed the need for enhancing investment cooperation and intensifying efforts to enable strategic partnerships in priority sectors, most notably energy, financial services, mining, manufacturing, logistics, tourism, manufacturing, agriculture, and green technologies. In terms of energy, the Indonesian side praised Saudi Arabia's crucial efforts in enhancing the reliability and stability of global oil markets, as well as its positive role balancing global energy markets. The two sides agreed to boost cooperation in the supply of crude oil and its derivatives, improve supply chains and their sustainability in the energy field, and strengthen cooperation in the fields of electricity, renewables and mineral resources. Bolstering Cooperation The two sides also underscored the importance of bolstering cooperation in the fields of digital economy and innovation, judiciary and justice, labor and human resources, culture, tourism, sports, education and scientific research, industry and mining, agriculture, fisheries, and food security, in addition to enhancing air connectivity between the two countries. Moreover, Saudi Arabia and Indonesia agreed on strengthening and developing their defense cooperation, in a manner that serves their common interests and contributes to achieving regional and global security and stability. Short link : Post Views: 25
Filipino Times
03-07-2025
- Business
- Filipino Times
Saudi Arabia, Indonesia sign $27 billion in deals
Saudi Arabia and Indonesia signed a series of major agreements worth around $27 billion during the state visit of Indonesian President Prabowo Subianto to the Kingdom, according to a joint statement issued by the Saudi Press Agency. The agreements cover key sectors including clean energy, petrochemicals, and aviation fuel services, underscoring the two countries' intent to deepen economic cooperation. President Prabowo was welcomed by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, at Al-Salam Palace in Jeddah, where both leaders oversaw the signing of the agreements. The deals were signed between leading companies and institutions from both countries and are aligned with the goals of Saudi Vision 2030 and Indonesia's Golden Indonesia Vision 2045. Both sides stressed the importance of expanding trade and investment ties, and agreed to develop mechanisms that facilitate the smooth flow of investments and reduce regulatory hurdles. Trade between the two nations has totaled approximately $31.5 billion over the past five years, making Saudi Arabia Indonesia's largest trading partner in the Middle East. The two countries reiterated their commitment to increasing two-way trade, improving investment frameworks, and supporting business-to-business partnerships. They also lauded the ongoing negotiations for a Free Trade Agreement between the Gulf Cooperation Council (GCC) and Indonesia, with hopes of finalizing the deal soon.
Bangkok Post
02-07-2025
- Business
- Bangkok Post
Bangkok Bank targets investment options in Indonesia
Bangkok Bank (BBL) sees significant business opportunities in Indonesia over the next two decades and says it is committed to supporting Thai businesses expanding into the country. Indonesia is one of the fastest-growing economies in the world, driven by government strategies, a large and youthful population of 284 million, and abundant natural resources. With these strong fundamentals, Indonesia's economy is expected to experience sustained growth over the next 20 years, said BBL president Chartsiri Sophonpanich during his visit to the bank's Indonesian branch, Permata Bank, last week. Under the Golden Indonesia Vision 2045, the country's GDP is projected to become the fourth-largest in the world. Indonesia has the 16th-largest economy with a GDP of US$1.54 trillion, and is the No.2 investment destination in Southeast Asia, attracting total foreign direct investment inflows of $105 billion. According to Permata Bank, in which BBL holds an 89.12% stake, Indonesia's GDP is projected to grow by 4.7% this year, down slightly from 5% in 2024. However, government agencies expect growth to rebound to 6.5% in 2026. Over the past decade, Indonesia's average annual GDP growth has been around 5%. He said Indonesia's recent entry into the BRICS group enhances its appeal as an investment destination, especially for businesses seeking to mitigate geopolitical risks amid global economic uncertainties. BRICS comprises 11 countries: Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia and Iran. "With Indonesia's positive growth outlook over the next 20 years, the country presents significant opportunities for Thai businesses to expand their operations and investments. BBL is well-positioned to support local enterprises in their outbound expansion, leveraging the bank's 57 years of experience in the regional market," said Mr Chartsiri. The bank already supports major Thai corporations investing in Indonesia in energy, trading, retail and manufacturing. BBL plans to support more Thai small and medium-sized enterprises eager to expand into the Indonesian market. As Thailand's largest lender and the seventh-largest bank in Southeast Asia by total assets, BBL is equipped to support both outbound and inbound investments across the region, he said. In the first half of 2024, Thai investment in Indonesia reached $225 million. Between 2017 and 2022, Thai investors contributed $1.52 billion across more than 1,400 projects in Indonesia. Indonesia remains a strategic trading partner for Thailand, with Thai exports valued at $10.3 billion in 2024. Thailand was Indonesia's fourth-largest export market, with exports to Thailand totalling $7.22 billion. Despite sluggish Thai economic growth, Mr Chartsiri said international banking will remain a driver of the bank's expansion, helping to strengthen its position as a leading regional bank.
Bangkok Post
01-07-2025
- Business
- Bangkok Post
BBL targets investment options in Indonesia
Bangkok Bank (BBL) sees significant business opportunities in Indonesia over the next two decades and says it is committed to supporting Thai businesses expanding into the country. Indonesia is one of the fastest-growing economies in the world, driven by government strategies, a large and youthful population of 284 million, and abundant natural resources. With these strong fundamentals, Indonesia's economy is expected to experience sustained growth over the next 20 years, said BBL president Chartsiri Sophonpanich during his visit to the bank's Indonesian branch, Permata Bank, last week. Under the Golden Indonesia Vision 2045, the country's GDP is projected to become the fourth-largest in the world. Indonesia has the 16th-largest economy with a GDP of US$1.54 trillion, and is the No.2 investment destination in Southeast Asia, attracting total foreign direct investment inflows of $105 billion. According to Permata Bank, in which BBL holds an 89.12% stake, Indonesia's GDP is projected to grow by 4.7% this year, down slightly from 5% in 2024. However, government agencies expect growth to rebound to 6.5% in 2026. Over the past decade, Indonesia's average annual GDP growth has been around 5%. He said Indonesia's recent entry into the BRICS group enhances its appeal as an investment destination, especially for businesses seeking to mitigate geopolitical risks amid global economic uncertainties. BRICS comprises 11 countries: Brazil, Russia, India, China, South Africa, Saudi Arabia, Egypt, United Arab Emirates, Ethiopia, Indonesia and Iran. "With Indonesia's positive growth outlook over the next 20 years, the country presents significant opportunities for Thai businesses to expand their operations and investments. BBL is well-positioned to support local enterprises in their outbound expansion, leveraging the bank's 57 years of experience in the regional market," said Mr Chartsiri. The bank already supports major Thai corporations investing in Indonesia in energy, trading, retail and manufacturing. BBL plans to support more Thai small and medium-sized enterprises eager to expand into the Indonesian market. As Thailand's largest lender and the seventh-largest bank in Southeast Asia by total assets, BBL is equipped to support both outbound and inbound investments across the region, he said. In the first half of 2024, Thai investment in Indonesia reached $225 million. Between 2017 and 2022, Thai investors contributed $1.52 billion across more than 1,400 projects in Indonesia. Indonesia remains a strategic trading partner for Thailand, with Thai exports valued at $10.3 billion in 2024. Thailand was Indonesia's fourth-largest export market, with exports to Thailand totalling $7.22 billion. Despite sluggish Thai economic growth, Mr Chartsiri said international banking will remain a driver of the bank's expansion, helping to strengthen its position as a leading regional bank.
