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Economics & Development | Global Arab Network
Qatar Investing $ 123.57 Billion Next 10 Years
Global Arab Network - - Adnan Kassar
Monday, 18 October 2010 11:34
The_Pearl_Qatar
Qatar (Doha) - Qatar government will invest $ 123.57 Billion (/ 450 / billion riyals) for local projects during the next ten years, said Minister of Economy and Finance Yousef Hussain Kamal.

Speaking to the daily Arabic newspaper "Alwatan" on Monday, Kamal said that Qatar will invest billions of riyals at home in infrastructure projects, oil, gas and petrochemicals. However, That dos not mean that Qatar will stop investment abroad, he added. He said that the investments of Qatar variety of internally and externally.

Investment out side Qatar is important, he said, for the country, it will reduce dependence on oil and gas as a major supplier of income and to avoid to stay at the mercy of price fluctuations in the future.

Qatar is the only country that benefited from the global financial crisis, as it was the only one that was upgraded by international Credit agencies during the crisis, said HE Minister of Economy and Finance. He added that Qatar does not invest in any project until ascertaining the feasibility of such investments and their returns through consultation with international experience.

As Chairman of the Board of Directors of the Qatar Financial Centre, Kamal said that next year Qatar Financial Centre will issue have one office to issue the licenses to all companies, whether local or foreign and that the central bank will have the authority to grant such licenses.

Asked about the role of the Qatar Financial Centre, he said it will be responsible for marketing to encourage international companies to enter the Qatari market.
(QNA)

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