Could Qatar’s investments ($42.5 billions) in London rise?

 

Prime Minister says that he is confident economic cooperation between Qatar and the UK can continue to grow. Qatar remains well positioned to weather the economic challenges it faces and will hopefully “add significantly” to the £30 billion ($42.5 billion) it has already invested in the UK, David Cameron, the outgoing British Prime Minister has said. Cameron told the global publishing, research and consultancy firm Oxford Business Group (OBG) that he was confident economic cooperation between Qatar and the UK could continue to grow.

“The fall in global energy prices will – as elsewhere – have an impact on Qatar’s economy; however, Qatar is well placed to respond,” he said. “If we can continue to be competitive, flexible and proactive, maintaining our position as Qatar’s leading European trading partner, then we can achieve an increased volume of bilateral annual trade beyond £5 billion.”

Cameron highlighted the benefits that both countries had gained from a healthy trading relationship. British firms, he said, were playing a part in Qatar’s 2022 FIFA World Cup and National Vision 2030 initiatives, rolling out projects in healthcare, education and financial services, among others.

One of the QATAR's investments in London (The Shard (centre), western Europe's tallest skyscraper)
One of the QATAR’s investments in London (The Shard (centre), western Europe’s tallest skyscraper)

Qatar’s £30 billion investment in the UK, meanwhile, had produced a raft of projects which range from contributing to a liquefied natural gas terminal in Wales to real estate and retail initiatives, he added. “Two of the most iconic London buildings, Harrods in Knightsbridge and the Shard in the City, are both owned by Qatar,” he noted.

Cameron also highlighted the “shared interest” that the UK and Qatar had in security. “Qatar’s security cannot be separated from the UK’s,” he said. “The security of both the UK and Qatar is linked to regional security and stability.”

Sources: QGN, Arabian Business, Qatar Agencies News, Reuters, BBC.