ASEAN

Saudi Arabia keen to join INA Sovereign Wealth Fund

THE development of the new Indonesian capital, Nusantara, has received a form of commitment from Saudi Arabia, said coordinating minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan.

He said this after meeting with the Crown Prince of Saudi Arabia, Prince Mohammed Salman, reported the Antara news agency.

Luhut recently posted on social media that in his visit to Riyadh last week, Prince Mohammed affirmed to him of Saudi Arabia's interest in joining the Indonesia Investment Authority's (INA) Sovereign Wealth Fund.

"I became more optimistic when I heard that he wanted Saudi Arabia to contribute to the development of Nusantara capital city, and more importantly, Saudi Arabia will join the INA," he said.

Over the weekend Luhut said he has formed a team that will leave for Riyadh next week to follow up on the commitment and plan for a delegation from Saudi Arabia to visit Indonesia before the month of Ramadan.

He said in his visit from March 1 to March 2, Prince Mohammed was gracious and warm, and had even hosted dinner at the Royal Palace with other senior cabinet members of Saudi Arabia.

"Another mystery of life for me because according to the Indonesian Ambassador, Prince Mohammed very rarely receives guests from overseas, except guests from neighbouring Gulf countries," he wrote.

Prince Mohammed had also given a "kiswah" or a piece of Kaaba cloth and a Kaaba key replica during the visit, Luhut added.

"Trust must be placed before everything. Our background of religion, race, and ethnicity is not an issue, as long as we have the same interest that prioritises the humanity and welfare of all nations to make the world a better place for our grandchildren in the future," he said.

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