The Republic of Indonesia’s Ministry of State-Owned Enterprises (SOEs) has recently formed a significant partnership with UAE’s Eagle Hills to enhance the tourism and infrastructure industries in Indonesia. Minister of SOEs Erick Thohir and Mohammed Alabbar, Founder and Chairman of Eagle Hills Properties and Founder of Emaar Properties, signed the Memorandum of Understanding (MoU) yesterday.
The memorandum of understanding (MoU) details proposals for investments totaling $3 billion in Indonesia’s tourism ecosystem and infrastructure. Important elements of the partnership encompass:
- Extensive investment in tourism sites, real estate projects, and aviation facilities
- Establishment of fresh tourism ecosystems
- Improvement of airport infrastructure and capabilities, with a focus on Soekarno-Hatta International Airport in Jakarta
- Renovation of government-owned hotels to meet global standards
- Exchange of expertise through collaborative research, seminars, and educational initiatives.
This partnership represents a major achievement in Indonesia’s endeavors to draw in foreign investments and knowledge to enhance its tourism sector, potentially transforming the nation’s tourism scene in the near future. It forms a key component of the Ministry of SOEs’ wider initiative to enhance cooperation between Indonesian SOEs and international corporations for the advancement of productivity and positive outcomes in Indonesia.
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