Indonesian President Prabowo Subianto said Qatar is set to invest $2 billion in his country’s new sovereign wealth fund as he looks to boost economic growth.<\/p>\n

Mr. Prabowo is on a five-nation tour of the West Asia, visiting the United Arab Emirates, Turkiye, Egypt, Qatar and Jordan to boost bilateral ties with the region.<\/p>\n

He said Sunday (April 13, 2025) he had a “productive” meeting with Qatar Emir Sheikh Tamim bin Hamad Al-Thani and that the country would invest in the Danantara Indonesia fund.<\/p>\n

Danantara Indonesia was launched in February by President Prabowo Subianto who pledged to ramp up annual growth from 5% to 8%, while ordering billions of dollars in government cuts.<\/p>\n

The fund will take control of government holdings in state companies with an initial budget of $20 billion.<\/p>\n

It is the country’s second sovereign wealth fund, after the Indonesia Investment Authority, which was launched in 2021 and holds $10.5 billion in assets.<\/p>\n

Danantara announced its full board lineup last month with American billionaire Ray Dalio and former Thailand Prime Minister Thaksin Shinawatra appointed as advisors.<\/p>\n

Jakarta has planned more than 20 energy projects worth around $40 billion this year, Energy and Mineral Resources Minister Bahlil Lahadalia said in March, partly funded by Danantara.<\/p>\n