Qatar and Indonesia have inked a memorandum of understanding (MoU) concerning developing the Indonesian tourism sector.
Under the MoU, Qatar Investment Authority (QIA), one of the world's largest sovereign funds, will allocate around $500 million for the tourism sector in the Southeast Asian nation to implement projects in 10 different sites.
Both CEO of QIA Abdulla bin Mohammed bin Saud al Thani and Luhut Binsar Pandjaitan, Coordinating Minister for Maritime Affairs of Indonesia, signed the MoU on Wednesday.
The two parties expressed their interest in developing the tourism sector in Indonesia, which would deepen the relations between Doha and Jakarta.
Several tourism sites have been chosen by the Indonesian government for projects in a bid to support the domestic tourism and boost the gross domestic product.