JAKARTA: Indonesian investments in Dubai reached AED188 million (US$51 million) in 2023, accounting for about 87% of total Indonesian investments into the emirate over the past five years.

During a visit by a Dubai Chamber delegation to the Indonesian capital, Jakarta, Mohammad Ali bin Rashed Lootah, President and CEO of Dubai Chambers, stated to the Emirates News Agency (WAM) that Indonesian investments have reached US$58.7 million over five years (2019-2023). He emphasised the Chamber’s focus on supporting the expansion of private sector companies in promising global markets and attracting various types of companies to Dubai.

Lootah highlighted the ideal investment opportunities in Indonesia, particularly in the automotive, real estate, and agriculture sectors, especially in the export of tropical fruits. He noted that 15 new Indonesian companies joined the Chamber’s membership during the first quarter of this year, bringing the total number of active Indonesian companies registered with the Chamber and
operating in the Emirate of Dubai to 114 by the end of March 2024.

Lootah pointed out that the number of Indonesian companies in Dubai has grown from 29 in 2014 to 114 active companies by the end of the first quarter, representing a 293% increase during this period. He affirmed that the Chamber’s diverse efforts and initiatives will undoubtedly contribute to increasing the number of Indonesian companies operating in Dubai in the coming period.

Source: Emirates News Agency