Qatar Investment Authority to invest $500m in Indonesia tourism

A tourist drinks a bottle of beer during sunset at Seminyak beach, near Kuta, on the resort island of Bali, in this photo dated March 3, 2015. Reuters.

Qatar Investment Authority (QIA) has signed a memorandum of understanding (MoU) with the Indonesian government to invest up to $500 million in the Southeast Asian country’s tourism sector, according to local media reports.

Under the MoU, QIA will invest the capital in a series of ongoing projects within Indonesia’s top 10 priority destinations, more famously known as the “10 New Balis”.

These destinations, which include Lake Toba in North Sumatra, Wakatobi in Southeast Sulawesi and Morotai in North Maluku, have been identified to help make tourism the largest contributor to Indonesian GDP by 2030.

The MoU also allows QIA to invite other co-investors to join the project.

The MoU was signed by Indonesia’s Coordinating Minister for Maritime Affairs, Luhut Binsar Pandjaitan, and QIA chief executive, HE Sheikh Abdulla bin Mohamed bin Saud al-Thani.

“I am sure this partnership, along with commitments from both parties, will benefit not only our two governments but also Indonesians living close to these destinations. I hope QIA will begin to implement its investment plans in Indonesia soon,” Pandjaitan said.

Al-Thani said the investment presents “an exciting opportunity for QIA to grow our strong portfolio of tourism-related investments around the world”.

Qatar Investment Authority was founded in 2005 to strengthen the country’s economy by diversifying into new asset classes. It has previously expressed interest in investing in the Mandalika Special Economic Zone in Lombok, West Nusa Tenggara.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.