Jeddah — Indonesian President Prabowo Subianto and Saudi Prime Minister and Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud (MBS) signed a series of agreements and memoranda of understanding between businesses from both nations, with a total value of approximately $27 billion (around Rp437.8 trillion). The commitments span clean energy, industrial development, and the digital economy.

These strategic investments were formalized during an official state meeting at Al-Asam Palace in Jeddah on Wednesday (July 2).

“Both parties welcomed the signing of various agreements and MoUs by the private sector, worth around $27 billion, reflecting the aspirations for an advanced economic partnership,” read the joint statement issued by the two countries.

The investments are expected to create new jobs in Indonesia and accelerate growth in priority sectors, including clean energy, downstream industrial processing, and environmentally friendly technologies.

Saudi Arabia is one of Indonesia’s principal trading partners in the region, with bilateral trade over the past five years reaching about $31.5 billion (approximately Rp502.7 trillion). The two leaders agreed on the importance of expanding trade volumes, increasing high-level exchanges, and organizing joint business activities through the Saudi–Indonesia Business Council.

During Prabowo’s state visit, the Supreme Coordination Council between Saudi Arabia and Indonesia was also established. Both nations agreed to strengthen institutional coordination to improve the effectiveness of cross-sector collaboration. The council will serve as the main platform for monitoring the implementation of strategic partnerships going forward.

“We have just formed the Supreme Coordination Council between Saudi Arabia and Indonesia. We agreed to enhance cooperation in all areas. I am very satisfied. Alhamdulillah, it has been productive. God willing, we will see further growth in our cooperation with Saudi Arabia,” President Prabowo stated.

In addition to trade and investment, Prabowo and Crown Prince Mohammed bin Salman also discussed strategic cooperation in the energy sector, including supply chain development, clean energy transition, hydrogen technology, and energy conservation through joint training and research.

The leaders also underscored the importance of health cooperation, particularly in improving health services for Hajj and Umrah pilgrims and strengthening the pharmaceutical, vaccine, and health technology industries.

On the international stage, Indonesia and Saudi Arabia committed to bolstering coordination across global forums, including the G20, the Organization of Islamic Cooperation (OIC), the United Nations, the IMF, and the World Bank. Both leaders also reaffirmed their support for a two-state solution for Palestine and peaceful resolution of conflicts across the region.