Exclusive Interview with Malaysian Ambassador

Saif Shahin | Qatar Tribune

DOHA (July 5) Qatar and Malaysia are setting up a joint fund to invest in each other?s economy as well as in other countries, Malaysian Ambassador His Excellency Dato? Ku Jaafar has told Qatar Tribune.

?Qatar has a desire to diversify its economy by investing abroad. Malaysia has the expertise. We are in talks to set up a common fund which will facilitate private and public enterprises from both sides that want to invest bilaterally or internationally,? the envoy said on Thursday.

The fund will be used for investing in a variety of sectors, including property development, oil and gas, tourism and information technology. While refusing to reveal its size, the envoy said the fund could become the launch pad for Qatari capital to spread across South East Asia and reach as far as China.

?Qatar and Malaysia can be good partners in such a venture. Malaysian project investment in Qatar is already topping QR7 billion, and it is expected to grow in the coming years. Qatari investment in Malaysia is also increasing. Qatari banks are operating in our country. The Qatar Investment Authority is buying property in Malaysia and also negotiating to participate in development projects in our southern region. This is an excellent base for us to build on,? he said.

Jaafar, who came here in August 2004 as Malaysia?s first resident ambassador to Qatar, is ending his term and leaving Doha on Tuesday. He called his stint ?immensely satisfying?.

?When I came, there was only one Malaysian company operating here. Today, there are several firms running projects in sectors as diverse as construction, oil and gas, education and information technology. Many more are set to start operations soon. Bilateral trade and investment has grown, and so has tourism. There is much to be happy about,? he said.

Tourism has in fact burgeoned, with Qatar sending nearly 10,000 visitors to Malaysia last year, one of the largest contingents from the Middle East. This year, the number is expected to touch 16,000. Jaafar said the demand was so high that Qatar Airways was planning to increase the frequency of its flights to Kuala Lumpur to twice a day.

?There are, however, areas in which we can improve our links further,? he said. ?Malaysia has an excellent educational set up, and we would like to see Qatari students at our universities. Qataris can also buy property under the Malaysia ? My Second Home programme.?

Malaysia?s new ambassador is expected to arrive here within two months.

(The author is Assistant Editor with Qatar Tribune)