Doha, (Business News Report)|| The Qatar Investment Authority (QIA) has announced its intention to double its investments in the coming days in Southeast Asia.
The QIA said it would inject $1.5 billion into the Bodhi Tree project in Southeast Asia.
James Murdoch, founder and CEO of American startup Luba Systems, and Uday Shankar, former CEO of Disney’s Indian subsidiary Star India, announced the new project.
The well-known duo is looking to double their investments in Southeast Asia and India. The Qatari fund will support the project, which aims to invest in media and consumer product technology in Southeast Asia, with a focus on India.
James, the son of media mogul Rupert Murdoch, left the family-run media activities (21st Century Fox) after selling most of its entertainment activities to Walt Disney in 2019.
The new project, Bodhi Tree, aims to invest in media, education, and healthcare companies. It aims at improving the lives of millions of consumers across the region.
The founders of the project said, in a statement, that the goal of these investments is to “positively impact millions of consumers across the region.”
Mansour Al-Mahmoud, CEO of the Qatar Investment Authority, said that the authority “is proud to play a major role in transforming the Bodhi tree into a reality.” “The authority seeks to invest in technology and media space, and India is a major market for us,” he added.
Al-Mahmoud added in a statement that “The Qatar Investment Authority looks forward to supporting Bodhi Tree while moving forward with its future growth plans,” according to Bloomberg.
The QIA was established in 2005 as a sovereign wealth fund specialized in domestic and foreign investment, and the management of oil and natural gas surpluses.
The fund ranks ninth among the largest sovereign wealth funds in the world, according to data from the SWF Institute, specialized in monitoring the movement of these funds.
QIA works to support the development of the competitiveness of the Qatari economy, facilitate economic diversification, and develop local skills. It aspires to be among the first institutional investors, and to be the best partner for the choices of investors and financiers.
Qatar has worked for years to invest its sovereign wealth in accordance with a strategy that achieves diversification of revenue sources and a smart geographical distribution that enhances its relations with the outside world and strengthens its political role.
During those years, many countries in Europe and Asia benefited from Qatari investment flows during different periods.
