Jakarta, Aug. 6 -- Indonesia and Saudi Arabia have signed a Memorandum of Understanding (MoU) on Cooperation and Promotion of Direct Investment to elevate bilateral economic relations and facilitate cross-border capital flows.

The agreement was signed on Tuesday (August 4) by Indonesian Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) Rosan Roeslani and Saudi Arabian Minister of Investment Fahad bin Abduljalil Al-Saif.

According to Minister Rosan, Indonesia and Saudi Arabia share a close relationship built on mutual trust, respect and long-standing people-to-people ties.

This partnership is now expanding into various strategic investment cooperation to generate concrete economic benefits for bot...