Fri, 27 Jun 2008
Jakarta, (ANTARA News) - Eight Saudi large companies have set aside US$2 billion to develop Indonesia`s agroindustry, a Saudi executive said.

"Saudi Arabia has allocated huge funds for investment in the agroindustry. Eight Saudi companies are ready to cooperate with Indonesian partners which are serious in establishing such cooperation," Chairman of Saudi Arabia`s Global Unions Company Khalid S Al-Musa said at the Indonesia-Middle East Business Forum here on Thursday.

Indonesian companies had not much benefited from the Saudi market, he said adding the chance for Indonesia`s non-oil/gas products particularly rice to penetrate the Saudi market was wide open.

The current global food crisis had worried the Saudi Kingdom so that it decided to invest in the agroindustry sector abroad and Indonesia endowed with abundant natural resources was considered suitable for the development of food industry, he said.

"We open our market not only to rice but to palm oil and pineapple as well," he said.

According to the Indonesian president`s special envoy for the Middle East, Alwi Shihab, the Saudi king had offered sharing facilities to local companies wishing to cooperate with foreign partners in developing the agroindustry in support of the country`s food security.

Viewed from their emotional ties, Indonesia was the main choice for Saudi companies to invest in the agroindustry. Therefore, the Indonesian government must respond to the Saudi companies` wish by preparing land, he said.

"It is too early to discuss haring facilities with regard to the planned investment in the sector. What is important for Indonesia now is to prepare the land first," he said.(*)



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