Ramsco's Women Empowerment Initiative Recognized Among Top BRICS Businesswomen Practices for 2025    Egypt, Elsewedy review progress on Ain Sokhna phosphate complex    Gold prices end July with modest gains    Pakistan says successfully concluded 'landmark trade deal' with US    Egypt's FM, US envoy discuss Gaza ceasefire, Iran nuclear talks    Modon Holding posts AED 2.1bn net profit in H1 2025    Egypt's Electricity Ministry says new power cable for Giza area operational    Egypt's Al-Sisi, Italian defence minister discuss Gaza, security cooperation    Egypt's FM discusses Gaza, Nile dam with US senators    Aid airdrops intensify as famine deepens in Gaza amid mounting international criticism    Health minister showcases AI's impact on healthcare at Huawei Cloud Summit    On anti-trafficking day, Egypt's PM calls fight a 'moral and humanitarian duty'    Federal Reserve maintains interest rates    Egypt strengthens healthcare partnerships to enhance maternity, multiple sclerosis, and stroke care    Egypt keeps Gaza aid flowing, total tops 533,000 tons: minister    Indian Embassy to launch cultural festival in Assiut, film fest in Cairo    Egyptian aid convoy heads toward Gaza as humanitarian crisis deepens    Culture minister launches national plan to revive film industry, modernise cinematic assets    Rafah Crossing 'never been closed for one day' from Egypt: PM    I won't trade my identity to please market: Douzi    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt's EHA, Huawei discuss enhanced digital health    Egypt, Oman discuss environmental cooperation    Egypt's EDA explores pharma cooperation with Belarus    Foreign, housing ministers discuss Egypt's role in African development push    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Qatar sets up $1 bn Indonesia fund, say govt officials
Published in Daily News Egypt on 10 - 05 - 2010

JAKARTA: Qatar Holding, the investment arm of Qatar's sovereign wealth fund, has set up a $1 billion Indonesian fund to invest in infrastructure and natural resources in Southeast Asia's biggest economy, officials said on Monday.
The new investment fund is a sign of increasing interest in Indonesia among Middle East and other international investors thanks to the country's abundant resources and desperate need for financing for infrastructure projects ranging from power plants to roads, railways, and bridges.
Qatar's existing interests in Indonesia include Qatar Telecommunication Co's 65 percent stake in Indonesia's second-biggest telecom company, PT Indosat.
Gita Wirjawan, head of Indonesia's investment coordinating board, said that the local investment vehicle, PT Qatar Holding Indonesia, was set up a few days ago.
"The main focus area will be on mineral resources and infrastructure projects," Wirjawan added.
Hilmi Gasim, an assistant to Alwi Shihab, the President Susilo Bambang Yudhoyono's special envoy for the Middle East, said that originally Qatar and Indonesia had planned to set up a jointly owned fund with Qatar holding an 85 percent stake, but that Qatar eventually opted for a wholly owned fund.
Indonesia's huge coal and other mineral reserves have attracted keen interest from India and China, which want to secure steady supplies.
But Indonesia has also been aggressively pitching to Middle Eastern investors for several big resources and infrastructure projects.
It has opened a new marketing office in Dubai, United Arab Emirates, and is slowly developing its Islamic financial markets to provide a wider array of sharia-compliant investments.
Last year, Indonesia's government attracted total investment of $7.2 billion from Middle East investors, including a $5.2 billion investment in an integrated mineral-resources project in East Kalimantan with UAE's MEC Holdings.
Qatar Holding, which just last week bought the famous London department store Harrods, is estimated to control about $70 billion in assets and has interests in many leading companies in Europe and Unites States.
It has set up an office in India and plans to set up another office in China. – Additional Reporting by Janeman Latul


Clic here to read the story from its source.