More on sovereign wealth funds
Qatar’s sovereign wealth fund is to invest $850 million in Indonesia and has set up a joint venture with the local government to do so.
It is another sign of the willingness of Gulf sovereign wealth funds to invest in emerging economies, particularly in Asia. "I think within three or four years we will see a lot more investments coming into Indonesia. It is a large market with a huge potential," says Hussain Al Abdulla, a board member of Qatar Investment Authority.
The new venture will not be on equal terms though: out of the holding company’s $1 billion, just $150 million will be provided by Indonesia. There will be Indonesian and Qatari board members, however. Executives are being hired globally. "The investments could be with local or international partners in Indonesia, depending on requirements and types of investments," says Al Abdulla, who is...
