Indonesia and Qatar establish $1bn venture to target investments in Indonesia

06 December 2007

Jakarta and Qatar Investment Authority have established a $1bn joint venture to target investments in Indonesia. The Indonesian government will own 15 per cent of the venture and QIA will own 85 per cent. The aim of the venture is to seek investment opportunities in Indonesia across a broad range of sectors, mainly including natural resources and infrastructure as well as other industrial and financial projects.

The agreement was signed by Hussain al-Abdullah, Board Member Executive of the Qatar Investment Authority, and a representative of the Indonesian Finance Ministry, at a ceremony in Jakarta on 6 December, which was also attended by Muhammad Jusuf Kalla, Vice President of the Government of Indonesia.

Al-Abdullah said: “We are delighted to have concluded this agreement today. Our partnership with the Government of Indonesia allows us together to invest for the long term in Indonesia’s attractive economy. This joint venture represents a natural extension of our strategy to increasingly focus investments in Asia, and as such is an important milestone.”

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