US Investment – Qatar’s New Venture Plans to Maintain Country’s Wealth
Many people are quite aware of the fact that Qatar is considered as one of the wealthiest countries in the world with a significantly high levels of natural gas reserves. At this point, Qatar is one of the major suppliers of natural gas all over the globe with over 15 billion barrel of oil reserves it is expected for them to supply similar amount of natural gas for the next 23 years. But of course, the latter is just one aspect that makes the economy of Qatar promising, many might not be aware about it but the country actually have huge investments in Great Britain for about ?35 billion and it is expected to invest another ?5 billion in UK’s energy resources, IT sector, and establishments for the coming years.
The bond that Qatar and UK has is quite deep since the QIA or widely known as Qatar Investment Authority owns an approximate of 20% in one of London’s international airports while the Qatar Airways is a major stockholder in British Airways since 2016. In addition, Qataris doesn’t need to pay significantly high amount for gas compared to a bottled water however even if their economy is booming they tend to be prudent with the nation’s wealth. There was a study conducted which reveals that business professionals in Qatar tend to use cheaper or free services rather than spending their money on a much greater services. A good example of this is the use of an online free letterhead maker instead of purchasing an expensive online application.
Moreover, Qatar is also the major supplier for the liquid natural gas needed by UK. The UK’s fuel imports comprises of natural gas that covers 30% of it, this in turns is a good thing for Qatar’s economy. The geographical location of Qatar is one of the reasons why it continues to progress since the place where the country lies is known as a natural gas field. Indeed there is a great oil output in the country on a yearly basis but still people put significant emphasis on conservative approaches to provide sustainability in the coming years.
As mentioned earlier Qatar has been making investments in UK this year and for the next five years, the investment is approximately ?1 billion however the growth seems minimal compared to the past years which is quite alarming. This is the main reason why the QIA plans to seek other countries where they can invest and make significant returns and apparently they go for US as their next target, they plan to go for an investment that is approximately worth $35 billion.
It is imperative that Qatar take into consideration new ways that will keep their country’s status high even if the country is considered as one the wealthiest countries all over the globe these days since many people are leaning towards renewable source of energy.