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FINANCIAL NEWS
Qatar, Malaysia establish USD2b investment fund
07 Dec 2011
(MENAFN) Malaysia’s prime minister, Najib Razak, said that his country along with Qatar established a USD2 billion joint investment fund to target business opportunities in the two countries and neighboring nations, reported The National.
Razak added that each country would invest USD1 billion in the fund, adding that the move would enhance bilateral relations between the two Muslim countries.
On the other hand, in May of 2010, Qatar Investment Authority (QIA) and 1Malaysia Development Berhad, a government-owned strategic development company inked an agreement, under which QIA planned to invest USD5 billion.
It is worth noting that according to Malaysian government statistics, trade between the two countries grew notably from USD80 million in 2000 to USD1 billion in 2011.
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