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Sun, 21 Mar 2010 | 12:00 GMT
Sun, Mar 21, 2010, 12:00 GMT
 

Malaysia, Qatar to set up joint investment fund

The Saudi Gazette
 
 
07 October 2009
DOHA - Efforts are underway by Khazanah Nasional Bhd and the Qatar Investment AuthorityQatar Investment AuthorityLoading... to establish a joint investment fund, said International Trade and Industry Minister Datuk Mustapa Mohamed Tuesday.

He said Khazanah officials were already in talks with their counterparts in Qatar and more follow-up meetings have been suggested.

"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 AuthorityQatar Investment AuthorityLoading...," he said.

In January, Tun Abdullah Ahmad Badawi, who was then Prime Minister, on a visit to Qatar, had indepth discussions on the establishment of a $1 billion investment fund by both countries, it was reported earlier.

Datuk Seri 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 percent equity in Asian Finance Bank and a 49 percent 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.

© The Saudi Gazette 2009

 
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