Saudi Arabia and Indonesia deepen investment ties to unlock growth across strategic sectors

As Gulf investors expand their footprint across Asia, Saudi Arabia and Indonesia are accelerating efforts to channel capital into high-growth sectors, aligning their long-term economic transformation agendas and creating new opportunities for private-sector partnerships.

The two countries have signed a memorandum of understanding to promote direct investment and facilitate cross-border capital flows. The agreement was signed in Jeddah by Saudi Investment Minister Fahad bin Abduljalil Al-Saif and Indonesia’s Investment and Downstreaming Minister Rosan P. Roeslani.

The MoU will support the exchange of investment and industry data, identify business opportunities, facilitate private-sector consultations, and encourage joint promotional activities, knowledge-sharing and expert exchanges. It also strengthens institutional coordination between Saudi and Indonesian investment authorities.

The agreement is a “strategic step toward strengthening investment cooperation between Indonesia and Saudi Arabia,” Roeslani said.

“Beyond the flow of capital, investment serves as an instrument to create jobs, strengthen national industries, drive innovation, and foster economic growth that delivers real benefits for the people.”

Roeslani said the partnership complements Saudi Arabia’s Vision 2030 agenda and Indonesia’s efforts to accelerate industrialization, downstream industries, infrastructure development, and economic transformation.

“Saudi Arabia is implementing its Vision 2030 agenda, while Indonesia continues to accelerate efforts in industrialization, downstreaming, infrastructure development, and economic transformation. This shared development trajectory opens up immense opportunities for collaboration between our two countries,” he said.

The agreement builds on growing investment ties between the two countries. In July, Saudi utility developer ACWA Power signed an agreement with Indonesia’s sovereign wealth fund, Danantara Indonesia, to explore investments of up to $10 billion across renewable energy, combined-cycle gas turbines, green hydrogen, and water desalination projects.

According to Roeslani, Indonesia is seeking to attract investment that supports value creation, knowledge transfer, and the development of the domestic industry.

“We also want to strengthen collaboration in strategic sectors, from downstreaming (industry), manufacturing, infrastructure, renewable energy, logistics, property and digital technology,” he said.

“We want to see more Saudi companies investing in Indonesia, and more Indonesian companies exploring business opportunities in Saudi Arabia.”