Indonesia, Qatar Enhance Investment Cooperation

LONDON, March 24 (Antara) - Indonesia's House of Representatives (DPR) has intensified cooperation with Qatar in the economy sector, particularly in the investment and labor fields, and has invited Qatari parliamentarians to visit Indonesia to commemorate 40 years of bilateral relations. The cooperation agenda was discussed by the Indonesian delegation led by Vice Chairman of the House of Representatives Agus Hermanto during a meeting with Deputy Chairman of the Qatari Parliament Isa Bin Rabeah Al Kuwari, according to a statement from Boy Dharmawan, a spokesman of the Indonesian Embassy in Doha, received by Antara here, Thursday. Dharmawan stated that strong diplomatic relations between Indonesia and Qatar, which were established in 1976, have yielded several benefits for both countries. He lauded Qatari investments in Indonesia in the areas of telecommunication, banking, mining, agriculture, power generation, and hotel industry. A Qatari state enterprise Nebras Power had purchased Paiton Energy's shares worth US$1.3 billion at the end of December and will also build a power plant in Belawan, North Sumatra, valued at $750 million. Meanwhile, Al Kuwari noted that the Indonesian delegation's visit to the Qatari Parliament demonstrates the strong relationship between the two countries. Hermanto reiterated Indonesia's commitment to creating a favorable investment climate in order to become an investment destination for Qatar. "Indonesia has in place a law on investment guarantees that protects all parties, both foreign and domestic investors," Hermanto remarked. Indonesia Ambassador to Qatar Muhammad Basri Sidehabi stated that the Embassy in Doha is exploring Sheikh Fahad bin Hamad bin Khalifa Al-Thani's investment plan to build a mall in Aceh. The embassy also facilitates Qatari investors in the hospitality and agriculture sectors to realize Qatar's food security vision by 2030. The Indonesian government is discussing various investment projects worth $1 billion along with the Qatar Investment Authority.