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  • 25-05-22

    Qatar to finance USD12B in vital British divisions

    (MENAFN) As part of a new deal among the UK and Qatar, the Gulf nation is going to finance £10 billion (USD12.5 billion) in vital British divisions throughout the next five years.

    In line with a British government announcement on Tuesday, Qatar is going to make investments in fintech, zero-emission vehicles, life sciences, as well as cyber security sectors.

    The announcement stated that the Strategic Investment cooperation deal is going to produce "high-quality jobs in new industries across the country."

    British Premier Boris Johnson stated that the investment decision presented that Qatar's confidence in the UK's businesses.

    The premier also stated that "Qatar is a valued partner for the UK, supported by Sheikh Tamim bin Hamad’s leadership."

    While the two nations' mutual exchange was nearly USD6 billion in 2021, Qatar's investments in the UK amounted to USD50 billion so far, the statement mentioned.

    As part of the contract, the two nations are going to also collaborate in different sectors including sports, trade, energy, security, defense, foreign policy, in addition to media.

    MENAFN25052022000045014228ID1104271213

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