ID :
83348
Wed, 10/07/2009 - 10:45
Auther :
Shortlink :
https://oananews.org//node/83348
The shortlink copeid
MALAYSIA AND QATAR INVESTMENT AUTHORITY TO SET UP JOINT INVESTMENT FUND
FROM JEFFRI MOHD RAFIEE
DOHA, Oct 6 Bernama) -- Efforts are underway by Khazanah Nasional Bhd and
the Qatar Investment Authority to establish a joint investment fund, said
International Trade and Industry minister Mustapa Mohamed Thursday.
He disclosed that Khazanahofficials were already in talks with their
counterparts in Qatar and more follow-up meetings have been suggested. Khazanah
is the investment holding arm of the Government of Malaysia.
" I hope Khazanah will draw up several strategies and recommendation for the
further perusal with Qatar authorities.
" What's certain is Qatar is very keen to invest in Malaysia. They need
concrete proposals from Malaysia and we are confident Khazanah Nasional and
others are drawing up definite proposals for the consideration of the Qatar
Investment Authority," he said.
It was reported in January that Abdullah Ahmad Badawi, who was then Prime
Minister, on a visit to Qatar, had indepth discussions on the establishment of a
US$1 billion investment fund by both countries.
Dr Rais Yatim, who was then Foreign Minister, was reported to have said that
the fund has been agreed upon at the policy level.
The aim of the fund is to get both countries to plough capital in certain
investments, either in Malaysia or Qatar.
Investments from Qatar in Malaysia, at present, include 70 per cent equity
in Asian Finance Bank and a 49 per cent stake in Pavilion Mall in Bukit Bintang,
Kuala Lumpur.
Mustapa is leading a week-long trade and investment promotion mission to
Qatar, Egypt and Saudi Arabia. After Doha, the delegation will depart for Cairo
before making a stop-over in Jeddah and Riyadh.
In Doha, the Malaysia-Qatar Joint Trade Committee held its inaugural meeting
on Monday, focusing on efforts towards enhancing trade and economic ties.
The meeting was jointly chaired by Mustapa and Qatari Acting Minister of
Business and Trade and Minister of State for International Cooperation Dr
Khalid Bin Muhammad Al Attiyah.
" I am convinced with the interest they have shown. They are rich in gas and
petroleum resources and the chances of future investments coming our way is
bright, but we have to work on these prospects.
" For the Middle East, we need to adopt a new approach to lure investment
and we realise we have to be very aggressive," said Mustapa.
He added that the Prime Minister's role in drawing foreign investments to
Malaysians shore has borne fruit.
Last week, Najib announced that the government would form a joint venture
company with Saudi Arabia. The Saudi investment is for a planned US$2.5 billion
fund that will be set up by PetroSaudi International and a Malaysian government
body called 1Malaysia development.
" The money will flow to Malaysia," said Mustapa, adding that investors from
Saudi Arabia, Qatar, Egypt and Middle East countries must be constantly wooed.
"We should develop a personal touch with them as other countries are
constantly trying to woo them.
" And, that is what I am trying to do," he added.
-- BERNAMA
DOHA, Oct 6 Bernama) -- Efforts are underway by Khazanah Nasional Bhd and
the Qatar Investment Authority to establish a joint investment fund, said
International Trade and Industry minister Mustapa Mohamed Thursday.
He disclosed that Khazanahofficials were already in talks with their
counterparts in Qatar and more follow-up meetings have been suggested. Khazanah
is the investment holding arm of the Government of Malaysia.
" I hope Khazanah will draw up several strategies and recommendation for the
further perusal with Qatar authorities.
" What's certain is Qatar is very keen to invest in Malaysia. They need
concrete proposals from Malaysia and we are confident Khazanah Nasional and
others are drawing up definite proposals for the consideration of the Qatar
Investment Authority," he said.
It was reported in January that Abdullah Ahmad Badawi, who was then Prime
Minister, on a visit to Qatar, had indepth discussions on the establishment of a
US$1 billion investment fund by both countries.
Dr Rais Yatim, who was then Foreign Minister, was reported to have said that
the fund has been agreed upon at the policy level.
The aim of the fund is to get both countries to plough capital in certain
investments, either in Malaysia or Qatar.
Investments from Qatar in Malaysia, at present, include 70 per cent equity
in Asian Finance Bank and a 49 per cent stake in Pavilion Mall in Bukit Bintang,
Kuala Lumpur.
Mustapa is leading a week-long trade and investment promotion mission to
Qatar, Egypt and Saudi Arabia. After Doha, the delegation will depart for Cairo
before making a stop-over in Jeddah and Riyadh.
In Doha, the Malaysia-Qatar Joint Trade Committee held its inaugural meeting
on Monday, focusing on efforts towards enhancing trade and economic ties.
The meeting was jointly chaired by Mustapa and Qatari Acting Minister of
Business and Trade and Minister of State for International Cooperation Dr
Khalid Bin Muhammad Al Attiyah.
" I am convinced with the interest they have shown. They are rich in gas and
petroleum resources and the chances of future investments coming our way is
bright, but we have to work on these prospects.
" For the Middle East, we need to adopt a new approach to lure investment
and we realise we have to be very aggressive," said Mustapa.
He added that the Prime Minister's role in drawing foreign investments to
Malaysians shore has borne fruit.
Last week, Najib announced that the government would form a joint venture
company with Saudi Arabia. The Saudi investment is for a planned US$2.5 billion
fund that will be set up by PetroSaudi International and a Malaysian government
body called 1Malaysia development.
" The money will flow to Malaysia," said Mustapa, adding that investors from
Saudi Arabia, Qatar, Egypt and Middle East countries must be constantly wooed.
"We should develop a personal touch with them as other countries are
constantly trying to woo them.
" And, that is what I am trying to do," he added.
-- BERNAMA
