Monday, 27 March 2017

Qatar announces £5bn UK investment



One of the largest investors in the UK has committed £5bn of new money to invest in transport, property and digital technology.

 
The Middle Eastern state of Qatar said that it was optimistic about the future of the British economy.


It made it clear that the UK leaving the European Union had little bearing on their decision.


Qatar has already invested £40bn in the UK - it owns Harrods and a 95% stake in the Shard in London.


It also has a stake in Canary Wharf in the capital's Docklands, as well as an interest in the Milford Haven liquefied natural gas terminal in South Wales.
It also bought the Olympic Village following the London 2012 Olympics.


"Currently the UK is our first investment destination and it is the largest investment destination for Qatari investors, both public and private," Ali Shareef al Emadi, the country's finance minister, told the BBC.


"We have more than £35bn to £40bn of investments already in the UK. 


"We're announcing an additional £5bn of investment in the next three to five years.


"Mainly this investment will focus on infrastructure sectors, technology, energy and real estate."


The government relies on foreign investment to support infrastructure projects such as the new high speed rail link between London, Birmingham and Manchester - HS2.


Although no final decisions have been taken on the Qatari investments, Mr Al Emadi did not rule out putting money into HS2.


"We will look at those deals; we will look at electricity, roads, bridges, railways," he said.


The announcement of the Qatari investment is likely to be welcomed by Number 10.


It comes two days before the triggering of Article 50, the official process for leaving the European Union.


Theresa May has made it clear she believes the British economy remains a positive place to invest and the Qatari announcement follows UK-focused investment decisions by Sir James Dyson, Google and Nissan.




BBC      News.