Qatar to invest a further £5bn in the UK economy

Just days before the prime minister Theresa May triggers the formal start of the UK's Brexit negotiations, Qatar has pledged £5bn of investment in the UK’s economy over the next three to five years.

Speaking at the Qatar-UK Business and Investment Forum this week before more than 400 officials and business executives, Qatari finance minister Ali Sharif al-Emadi said: “Currently the UK is our first investment destination and it is the largest investment destination for Qatari investors, both public and private.” With Qatar already having “more than £35bn to £40bn of investments” in the UK, al-Emadi announced that Qatar would be committing an additional £5bn “in the next three to five years”.

The pound’s recent depreciation has changed investment plans, broadening the geographic focus of investments to beyond London, with Qatari prime minister, Sheikh Abdullah bin Nasser bin Khalifa al-Thani stressing the broad geographic focus and long-term view being taken on future Qatari investments.

The chief executive of Qatar Investment Authority (QIA), Sheikh Abdullah bin Mohammed bin Saud al-Thani, who also spoke at theQatar-UK Business and Investment Forum, told Reuters that there were still significant opportunities for investment in the UK amidst Brexit and beyond. 

Specifying the focus of investments, Sheikh Abdullah said: Our aim now in the future is really to focus on infrastructure, and we will be focusing also on healthcare and IT.”

The Financial Times has reported that the main focus of these new investments will be assets valued at over £200m within the space of infrastructure, energy, technology as well as property. With approximately $335bn worth of assets in total managed by the Qatari sovereign wealth fund and Qatar’s status as one of the largest investors in London, it was made clear at the event in London this week that Qatar believes in the long-term viability of the British economy.

International Trade Secretary Liam Fox also spoke at the event in London and said that the UK would also double the export finance available to better support future trade with Qatar.