Malaysia and Qatar have agreed in principle to set up a US$1 billion investment fund for mutual investment, Foreign Minister Datuk Seri Dr Rais Yatim said.

He said details of the fund will be finalised at a meeting between Prime Minister Datuk Seri Abdullah Ahmad Badawi and his Qatari counterpart Sheikh Hamad bin Jasim bin Jabir Al-Thani.

Among matters to be fine-tuned are the type of projects and where the projects are to be implemented, he told Malaysian journalists covering Abdullah’s two-day visit to Qatar.

Dr Rais said the fund would be shared on a 50:50 basis between Malaysia and Qatar.

He said Abdullah has also been informed on the success of another Malaysian company, Sime Darby Bhd, which has clinched a big contract in Qatar to build an oil platform costing RM1 billion.

“This showed Malaysia is now accepted as an investment partner in Qatar following the success of several Malaysian companies implementing many mega projects in Qatar,” he said.

Among the companies are Gamuda Bhd which built the RM2.6 billion Doha International Airport and several other infrastructure projects by Muhibbah Engineering (M) Bhd, Eversendai Corporation Group, IJM Corporation Bhd and UEM Group.

On the investment forum to be held tomorrow, Dr Rais said Abdullah will deliver a keynote address that will highlight various incentives to woo Qatari investors to Malaysia including to invest in the agriculture and aquaculture.

International Trade and Industry Minister Tan Sri Muhyiddin Yassin and Second Finance Minister Tan Sri Nor Mohamed Yakcop are in the prime minister’s delegation.


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