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Sameh Saeid
Doha
Qatar is currently one of the biggest investors among the Arab countries in Indonesia, according to Special Envoy for the President of the Republic of Indonesia and former foreign minister Alwi Shihab.
Shihab told Qatar Tribune on the sidelines of a joint meeting between Indonesia's delegation and Qatari businessmen that the trade volume between the two countries has risen by 260 percent in the last few years to reach $1.32 billion in 2015.
The joint meeting was hosted by the Qatar Chamber of Commerce and Industries on Sunday to discuss economic cooperation between the two countries and ways of enhancing trade cooperation between Qatari and Indonesian private sector companies.
Qatar's investment in Indonesia covers many sectors including telecommunications, banks and mining, said Shihab. In the telecommunication sector, Ooredoo owns 65 percent of Indosat, which is one of the biggest telecommunication companies in Indonesia. While NEBRAS power company has invested over $750 billion in establishing a power plant, the Qatar National Bank has recently opened a branch in Indonesia with investment amounting to $1.6 million.
"However, the excellent political relationship between Qatar and Indonesia has not been reflected yet in the economic arena,"Shihab added.
He said that Qatar Investment Authority had offered Indonesia funding for four projects under the $1 billion Joint Infrastructure Fund, which is expected make its first investment by the end of this year.
The Vice Chairman of Qatar Chamber Mohammed bin Ahmed bin Towar said that Qatar Chamber encourages business owners to promote cooperation and exchange experiences with their counterparts from Indonesia, since the economy in both countries is stable and encouraging investment.
He stressed the importance of the role of Qatar and Jakarta Chambers in achieving convergence between the business owners of the two countries and to engage in effective partnerships in the interest of Qatar and Indonesia's economy.
The delegation made a presentation on the laws and regulations that were issued recently by the Government of the Republic of Indonesia, aiming to encourage foreign investors to invest in the country.
Shihab called on business owners and the Qatar Chamber to participate in the Indonesia Trade Fair, the largest annual exhibition in Indonesia to promote products made in that country.
The Trade Fair will be held on October 12 in Jakarta with over 100 exhibitors expected to represent all economic sectors in Indonesia displaying their products over 50,000 square metres.
