Economy

Qatar to invest $12.5B in UK's key sectors

British prime minister says investment decision shows Qatar's trust in UK businesses

Gokhan Ergocun   | 24.05.2022
Qatar to invest $12.5B in UK's key sectors

ISTANBUL

As part of a new agreement between the UK and Qatar, the Gulf country will invest £10 billion ($12.5 billion) in vital British sectors during the next five years.

Qatar will make investments in fintech, zero-emission vehicles, life sciences, and cyber security sectors, according to a British government statement on Tuesday.

The Strategic Investment Partnership agreement will create "high-quality jobs in new industries across the country," the statement read.

British Prime Minister Boris Johnson said the investment decision showed Qatar's confidence in the UK's businesses.

"Qatar is a valued partner for the UK, supported by Sheikh Tamim bin Hamad’s leadership," he added.

While the two countries' bilateral trade was around $6 billion last year, Qatar's investments in the UK reached $50 billion so far, the statement noted.

As part of the agreement, the two countries will also cooperate in different areas such as sports, trade, energy, security, defense, foreign policy, and media.

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.
Related topics
Bu haberi paylaşın