28/09/2017 07:11 AST

Qatar stands to gain from its participation in an upcoming economic forum hosted by Indonesia, which is opening investment opportunities to 19 countries in the Middle East, a Qatari businessman has said.

“This is a good opportunity for Qatar because the government is looking for ways to strengthen its food security programme and to create industries abroad that would export products back to Qatar,” Qatari businessman Farhan al-Sayed told Gulf Times yesterday. Al-Sayed was referring to the upcoming ‘Indonesia Middle East Annual Gathering on Economy (Image) 2017’ slated on October 8-10 in Bandung, Indonesia under the auspices of the Government of West Java Province and Indonesia’s Ministry of Foreign Affairs.

The event will gather Middle East countries including Qatar, Kuwait, Yemen, Iraq, Egypt, Tunisia, Saudi Arabia, Morocco, the UAE, Sudan, Oman, Mauritania, Bahrain, Syria, Lebanon, Jordan, Palestine, Algeria, and Libya.

“The Indonesian embassy is working very hard to promote stronger bilateral and cultural relations with Qatar, as well as in the areas of commerce and industry, and opening up lands to Qatar and its Middle East neighbours to be part of Indonesia’s industry growth,” al-Sayed continued, citing the efforts of Indonesian ambassador Mohamed Basri Sidehabi. In its Asia Business Outlook Survey 2017, The Economist listed Indonesia among the “top three destinations for attracting investors in Asia,” while the United Nations Conference on Trade and Development (UNCTAD) included the country in the “top five prospective investment destination in the world in June 2017.”

Similarly, the IMF World Economic Outlook, Database April 2017 said “Indonesia enjoys large investments relative to peers within the region,” while the Japan Bank for International Cooperation (JBIC), in its Outlook for Japanese Foreign Direct Investment (28th annual survey), said “Indonesia is the most preferred place for business investment among Asean countries (December 2016).”

Al-Sayed said Qatar can participate in potential investment opportunities in Indonesia in the fields of geothermal and aviation such as the West Java International Airport (BIJB) and its supporting facilities like power plant, gas backbone pipeline, gas pipeline network in BIJB and aerocity.

There are also investment opportunities in the Metropolitan Cirebon Raya Clean Water Supply System and the Legok Nangka Solid Waste Treatment and Disposal project, al-Sayed said. “Indonesia’s confidence in Middle East countries, including Qatar is very high, which is why they are inviting 19 countries from this region, and this will create a competitive investment atmosphere for these participating nations.

“Qatar can easily involve itself in these projects whether in supply systems or infrastructure because the country already has extensive experience in these areas considering the ongoing projects being implemented,” he said.

Gulf Times

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