An interesting development, and I hope both parties will benefit from this agreement and will enhance the relationship between the two great nations. Let us see how this MOU and framework agreement will be materialized during the implementation.
NST -Business Times : Published: 2010/05/14
THE Qatar Investment Authority (QIA) has proposed to invest US$5 billion or about RM16 billion in Malaysia. A memorandum of understanding (MoU) between the QIA and 1Malaysia Development Bhd (1MDB) was signed today. The MOU provides a framework for facilitating investment cooperation between the two entities to explore, evaluate and implement investment opportunities in Malaysia.
"It will include investing in the energy sector and a strategic real estate development in the Klang Valley," said the QIA and 1MDB is a joint statement here.
The signing, held at the Prime Minister’s office in Putrajaya, was witnessed by Prime Minister Datuk Seri Najib Tun Razak and his Qatari counterpart, Sheikh Hamad Jassim.
The statement also said a Joint Committee would be established between the QIA and 1MDB, to assess the viability and other commercial aspects of the various investment opportunities, to be considered.
Founded in 2005, the QIA is tasked to strengthen the country’s economy by diversifying into new asset classes.
Its growing portfolio of long term strategic investments, helps complement the state’s wealth in natural resources.
Meanwhile, 1MDB is a strategic development company, wholly-owned by the government.
It drives strategic initiatives for long term sustainable economic development, by forging partnerships and promoting the inflow of foreign direct investments (FDIs).
BERNAMA
The statement also said a Joint Committee would be established between the QIA and 1MDB, to assess the viability and other commercial aspects of the various investment opportunities, to be considered.
Founded in 2005, the QIA is tasked to strengthen the country’s economy by diversifying into new asset classes.
Its growing portfolio of long term strategic investments, helps complement the state’s wealth in natural resources.
Meanwhile, 1MDB is a strategic development company, wholly-owned by the government.
It drives strategic initiatives for long term sustainable economic development, by forging partnerships and promoting the inflow of foreign direct investments (FDIs).
BERNAMA
Read more: Qatar to invest US$5b in Malaysia
DISCLAIMER: Notice :Opinions, stories , thoughts expressed are blogger's own and do not necessarily represent the views of the institution or the organizations by which the blogger is employed or any specific person who so ever, either dead or alive.
No comments:
Post a Comment