Qatar’s investments in UK will continue post-Brexit: Russell
LORD Mayor of the city of London William Russell has expressed confidence that Qatar will continue to invest in the UK, where it has already invested in excess of £40 billion.
“Qatar has invested more than £40bn in the UK during Brexit period. About £5 billion of it were from Qatar Investment Authority (QIA). Qatar has made it very clear that investments in the UK will continue post-Brexit, and some projects will be outside London,” Russell said at a media roundtable in Doha on Wednesday.
“We are very grateful for the support and friendship we have with Qatar. I am here in Doha to reiterate the strength of the two countries’ relationship,” Russell said.
Russell appreciated the long-term partnership between
Qatari and British financial institutions, affirming the readiness of the city of London to support Qatar while developing its financial services sector, especially as this comes within the context of Qatar as an important investment partner for the city of London and the UK.
He said London and the UK have experience in emerging areas, such as green finance, and financial technology ( Fintech).
“We had a Qatar-UK financial services forum on Wednesday. We are currently collaborating and more Fintech strategy will be published soon in the next few months, and I think it is a very important attainment for Doha to become the Fintech centre in the Gulf region. From the London perspective, we will support that as much as we can,” he said.
“Achievements are all about collaboration and sharing knowledge. And I am pleased to say that Doha is keen to be the Fintech centre of the Middle East.”
“Qatar wants to have global ‘top of the barrel’ standards. So, there is no doubt that Qatar will have very good regulations and standards when it comes to Fintech creating this hub here in Doha and we are helping in this process and many opportunities are available for both the countries to benefit from this collaboration,” he added.
Qatar has invested more than £40bn in the UK during Brexit period. About £5 billion of it were from Qatar Investment Authority (QIA). Qatar has made it very clear that investments in the UK will continue post-Brexit.”
— William Russell, Lord Mayor of the city of London
RUSSELL said, “Green finance and Islamic finance go hand-in-hand and we consider this sector as another opportunity to work closely with Qatar.”
He stressed the importance of climate change and said that working together is the key.
“Green finance was discussed during the meeting on Wednesday and Qatar is taking this very seriously and is very keen to help the region and the world to do better in the climate area,” he added.
“We are keen to strengthen the relationship with Qatar. I am the first official person to meet the prime minister and it was a very good meeting stressing the strong UK-Qatar relationship,” he said
Russell expressed his excitement over the 2022 World Cup and said that more than 30 British companies are helping with the World Cup projects.
“It is a huge achievement for the history of the state and the world will see what a wonderful country it is. I have seen some of the work that has been done here and it is very impressive. I am certain it will be a fantastic World Cup where Qatar will be on the world stage,” he said.
Russell highlighted that after the EU and the US, the largest export market for the UK is in the Gulf region,
“This is a very important region with a huge amount of trade and I am very optimistic about the city of London and the UK going forward. It is still a good time to invest in the UK and I am certain that investments will continue to come into London certainly after my discussions here in Qatar,” he noted.