Indonesia Seeks Saudi Investment in Food Security, Technology

A vendor (L) assists a customer at a roadside clothing stall in Jakarta on June 30, 2025. (Photo by BAY ISMOYO / AFP)
A vendor (L) assists a customer at a roadside clothing stall in Jakarta on June 30, 2025. (Photo by BAY ISMOYO / AFP)
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Indonesia Seeks Saudi Investment in Food Security, Technology

A vendor (L) assists a customer at a roadside clothing stall in Jakarta on June 30, 2025. (Photo by BAY ISMOYO / AFP)
A vendor (L) assists a customer at a roadside clothing stall in Jakarta on June 30, 2025. (Photo by BAY ISMOYO / AFP)

As Indonesian President Prabowo Subianto begins an official visit to Saudi Arabia on Tuesday, a senior Indonesian official confirmed that the trip reflects Jakarta’s ambition to deepen both economic and political ties with Riyadh.

Dr. Muhammad Hidayat Nur, Deputy Speaker of Indonesia’s People’s Consultative Assembly, told Asharq Al-Awsat that this presidential visit underscores the depth of the relationship between Saudi Arabia and Indonesia.

Nur said the visit is expected to explore ways to strengthen and broaden comprehensive economic cooperation, with particular emphasis on enhancing food security.

He noted that Indonesia is putting forward proposals to attract Saudi investments aimed at increasing domestic production of key agricultural commodities, including wheat, corn, and rice. He also highlighted the rising pace of tourism exchanges between the two countries.

He stressed that Indonesia remains open to new industries and emerging technologies, alongside efforts to ensure sustainable food supplies, as Jakarta actively seeks to draw Saudi investors.

According to Nur, Subianto will put forward a clear vision of expanding collaboration, viewing Saudi Arabia as a leading partner in supplying essential food products.

Nur explained that the new government’s plans focus on strengthening security conditions that protect foreign investments and facilitate their smooth, safe flow into the country. “At the same time, we are committed to removing obstacles that have hindered investment in Indonesia, particularly in agriculture.”

He emphasized that Indonesia welcomes Saudi investment across various sectors. Subianto is visiting the Kingdom carrying a package of proposals aimed at advancing bilateral relations and increasing preferred Saudi investments, especially in agriculture, food production, mining, and industrial projects, he said.

Nur also underlined Jakarta’s intention to leverage both nations’ membership in the G20 to deepen cooperation in economic, technological, and environmental fields. It is essential to strengthen Saudi-Indonesian collaboration within the G7 and G20 frameworks, he said, to address the imbalance and inequity in the global distribution of wealth and resources. This is key to creating more balanced development and fostering sustainable growth worldwide.

He concluded that Saudi-Indonesian relations are currently at their strongest and will continue to grow. There are no obstacles impeding progress, he said.

In fact, both countries are core partners who work side by side with shared visions in international organizations, especially the United Nations and the Organization of Islamic Cooperation. They stand together, particularly on the Palestinian issue.



Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)
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Saudi PIF Backs Multibillion-Dollar Projects to Boost Sustainability

A solar power project in Saudi Arabia (SPA)
A solar power project in Saudi Arabia (SPA)

Saudi Arabia’s Public Investment Fund has fully allocated the proceeds of its green bond issuance, directing $9 billion to eligible projects, in a move that highlights the sovereign wealth fund’s growing role in shaping a more sustainable future and delivering lasting positive impact worldwide.

According to a recent report issued by the Public Investment Fund, reviewed by Asharq Al-Awsat, the expected impact of the fund’s eligible green projects includes generating 427 megawatts of renewable energy, avoiding emissions equivalent to 5.1 million tons of carbon dioxide, and treating 4 million cubic meters of wastewater.

The Public Investment Fund aims to establish itself as an active participant in global debt markets, while also fostering the development of a dynamic domestic market. This would enable the fund to access short- or long-term liquidity through a diverse range of financing instruments.

Financing strategy

The fund’s capital markets program aims to further strengthen its financing strategy and execution capabilities, both at the level of the Saudi sovereign wealth fund and across its portfolio companies, while enabling deeper engagement with global and local debt markets.

The program will also support expanding the fund’s capacity to raise debt and deploy it as a source of investment financing, in line with its overall funding strategy. This approach is designed to instill greater discipline in cash flow management and enhance returns on equity for the fund and its portfolio companies.

The green bond issuance will provide the fund with access to a broader pool of investors who prioritize environmental, social, and governance considerations in their investment decisions. It will also allow investors to diversify their portfolios through green assets, a step expected to help accelerate the pace of green investment globally.

Climate change

The fund has taken concrete steps to advance governance and policy, focusing on sustainability, and is a founding member of the One Planet Sovereign Wealth Funds initiative. This international platform aims to accelerate the integration of climate change considerations into asset management decisions and investment opportunities.

As an investment vehicle, the Public Investment Fund operates through acquiring stakes in companies aligned with its mandate, including ACWA Power and Lucid.

It has also established the Saudi Investment Recycling Company, a leader in waste management and recycling, manages the National Energy Services Company, Tarshid, and supports the creation of a voluntary carbon market in the Middle East and North Africa.

These efforts aim to strengthen Saudi Arabia’s position as one of the world’s most energy-efficient countries.

The green bond issuance will finance tangible projects on the ground, helping to accelerate the green transition and advance the Kingdom’s core targets of achieving net zero emissions by 2060 and generating 50 percent of electricity consumption from renewable energy sources by 2030.

This forms a key pillar of the renewable energy program implemented by the fund, which involves developing 70 percent of renewable power generation capacity.


Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)
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Saudi E-Commerce Hits Record Monthly Sales over SAR30.7 Billion in October

A view of Riyadh, Saudi Arabia. (SPA file)
A view of Riyadh, Saudi Arabia. (SPA file)

E-commerce sales in Saudi Arabia via "mada" cards soared to an all-time monthly high in October 2025, surpassing SAR30.7 billion.

The surge in sales represents a 68% year-on-year increase, totaling about SAR12.4 billion more than the SAR18.3 billion recorded in October 2024, according to the Saudi Central Bank (SAMA) statistical bulletin on Wednesday.

E-commerce sales for the third quarter (Q3) of 2025 hit SAR88.3 billion, up 15.2% from the previous quarter, representing an increase of about SAR11.6 billion over the SAR76.6 billion recorded in Q2.

On a monthly basis, e-commerce sales in October rose 6%, gaining approximately SAR1.6 billion over September’s total of SAR29.1 billion.

From January to October, "mada" data showed e-commerce sales grew 47.3%, rising by around SAR9.9 billion over the SAR20.9 billion recorded in January.

These figures cover transactions made via "mada" cards on e-commerce websites, apps, and digital wallets, and do not include credit-card payments.


Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
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Jeddah's King Abdulaziz Airport Launches First Direct Flight to Moscow

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)
The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location. (SPA)

Jeddah's King Abdulaziz International Airport (KAIA) celebrated the launch of its first direct flynas flight to Moscow, operating three weekly flights between Jeddah and Vnukovo International Airport.

This initiative, in partnership with the Saudi Tourism Authority and the Air Connectivity Program, boosts air links between Saudi Arabia and Russia.

It marks KAIA's third direct Russian destination, following Makhachkala and Mineralnye Vody, which were inaugurated earlier this month by Azimuth Airlines.

The expansion supports Jeddah Airports Company’s goal of broadening travel options and increasing air traffic revenue, leveraging the Kingdom's strategic location.