Qatar to invest 5 billion pounds in UK
Qatar announces that it will invest a total of £5 billion over the next three to five years in transport, real estate and digital technology infrastructures.
The Qatari government, through the Ministry of Finance, has announced that it will invest some 5,000 million pounds (£5,789 million euros) in the UK over the next five years. The bulk of the investment will be made in the transport sector, especially infrastructures; In the real estate market and in the digital technology.
This announcement comes just two days after the UK’s Prime Minister, Theresa May, announced March 29th as the #Brexit start, and as part of a bilateral business and investment forum both countries are being held in the cities of London and Birmingham.
The United Kingdom is the leading investment destination for Qatar: in recent years it has invested some 40 billion pounds (£46,309 million euros) in assets such as the well-known Harrod’s stores, stakes in financial complexes such as Shard and London Canary Wharf and the acquisition of The Olympic Village of the London 2012 Olympic Games.
Part of this new Qatari investment will go to the development of the high-speed train line between London, Birmingham, Manchester and Leeds, known as HS2, a type of large infrastructure project that the United Kingdom usually finances by investing Foreign.
Precisely the british position as an important recipient of foreign investment worldwide has been boosted after the Brexit, as the decline in the value of sterling has further attracted investment from abroad.
Finally, Qatar and the United Kingdom have also agreed to promote the exchange of highly qualified and student workers between the two countries.
On the eve of the start of the EU’s exit negotiations, London and Doha tighten their already strong economic ties by launching a message of strength.
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Del Canto Chambers’ Editorial Board