Qatar’s in­vest­ments in UK will con­tinue post-Brexit: Rus­sell

Qatar Tribune - - Front Page - MERIAM JELLITI

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.

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