Indonesian President Prabowo Subianto says Qatar is expected to invest US$2 billion in Danantara, the Southeast Asian nation’s new sovereign wealth fund, according to AFP.
Prabowo, who launched Danantara in February, says he had a “productive meeting” with Qatar’s Emir Sheikh Taman Hamad Al-Thani on his recent visit to five Middle Eastern nations, the news agency reports on April 16.
Apart from Qatar, he also visited the United Arab Emirates, Turkey, Egypt and Jordan during the tour which ended on April 14.
Danantara is expected to function like Singapore state investment firm Temasek Holdings, which holds strategic stakes in many top local companies. The wealth fund is expected to manage more than $900 billion of state assets.
Spokespersons from the Indonesian president’s office did not immediately respond to questions from Asia Asset Management.