Coordinating Economic Minister Airlangga Hartarto (Photo: thejakartapost.com)

Jakarta – Indonesia and Qatar have committed to promoting their bilateral economic ties, in which Qatar agreed to invest more than 500 million USD in Indonesia’s “10 New Balis” tourism project.

Indonesian Coordinating Economic Minister Airlangga Hartarto had a meeting with Qatari Finance Minister Ali bin Ahmed Al Kuwari over the deal on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland.

The two sides had a positive and productive discussion about the bilateral relations, and affirmed the commitment of their countries to strengthen economic ties.

They also discussed Qatar’s ongoing support in exploiting Indonesia’s economic potential, including the Qatar Investment Authority initiative to invest more than 500 million USD in the “10 New Balis” national tourism project.

The priority development project is part of the tourism investment campaign that the Indonesian government has been promoting since 2018 with an aim to develop 10 new tourism hubs with global reputations, like Bali.

Qatar’s investment in the project is expected to contribute to Indonesia’s long-term economic growth and development and have a transformative impact on local communities.

Trade between Indonesia and Qatar has increased in the past few years to reach 687 million USD in 2020.

Airlangga said that even though the country was severely hit by the COVID-19 pandemic, Indonesia had bounced back and recorded 5.1 percent growth in the first quarter of 2022.