Qatar Will Invest $500 Million in Indonesia Tourism
Qatar based Qatar Investment Authority, or QIA, signed a memorandum of understanding with the Indonesian government for a $500 million investment in Indonesia tourism.
Under this agreement, QIA will invest the amount on 10 tourist destinations in Indonesia, also known as "10 New Balis."
The destinations include Lake Toba in North Sumatra, Wakatobi in Southeast Sulawesi and Morotai in North Maluku, are projected to make a significant contribution to Indonesia's annual gross domestic product (GDP) by 2030.
The agreement was signed by Coordinating Maritime Affairs Minister Luhut Pandjaitan and QIA's chief executive Sheikh Abdulla bin Mohammed bin Saud al-Thani.
"I am sure this partnership, along with commitments from both parties, will benefit not only our two governments but also...