M'SIA, QATAR TO SET UP US$1 BIL INVESTMENT FUND - RAIS

From Ahmad Kamil Tahir

DOHA, Jan 21 (Bernama) -- Malaysia and Qatar have agreed in principle to set up
a US$1 billion investment fund for mutual investment, Foreign Minister Dr Rais
Yatim said.

He said details of the fund will be finalised at a meeting between Prime
Minister 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 Wednesday, 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. (US$1=RM3.62)
-- BERNAMA