Mohammed Al Kuwari, Qatar’s ambassador in the US, has recently announced that Qatar seeks to invest almost 35 billion dollars in the US. The sum is going to be invested in the next 5 years.
The announcement was made public on Tweeter with a couple of hours before the Emir was scheduled to meet the UN General Assembly.
Al Kuwari mentioned that the investment is meant to strengthen the economic cooperation between Qatar and the US. As a consequence, the Qatar Investment Authority is going to open an office in New York.
The money is going to be invested in different fields, but the officials didn’t mention which ones. However, over the past few years, Qatar invested a lot of money in American planes and artillery and helped building the CityCenter DC, opened last year.
The QIA gets money from Qatar’s oil and gas selling, from hotels and other big companies, such as Volkswagen, Tiffany and Uber. Now with the Volkswagen scandal, the QIA lowered its profit with almost £3.3 billion.
In the past, Qatar also funded Russia and China, but the authorities were not transparent in the transactions, thing which made some research firms to separate them from others.
“We are talking about huge sums of money here, and the problem is we do not know the logic with which they operate,” said Sven Behrendt, director of GeoEconomica.
Opening the office on the American land will give the QIA the possibility to extend its portfolio, which represents one of QIA’s main objectives, taking into consideration the actual fluctuations in the economic field. It will also give QIA the chance to deepen partnerships not only with public organizations, but also with private ones.
Apart from the investment in some of the American fields, the QIA will continue its partnerships with Europe, Middle East and Asia.
Al-Thani, CEO of QIA, declared that this partnership represents a good way for them to expand on a long term and to grow geographically.
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