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Qatar invests over $30 billion in Britain

January 30, 2014 at 2:57 pm

Mayor of London, Boris Johnson, estimated that total Qatari investments in the United Kingdom amount to about £20 billion ($30.6 billion) and are mainly in London. He also added in a press conference yesterday in Doha that his visit to Qatar aims to present about 18 investment areas in London that are considered a great opportunity for those wanting to invest in London.

The London Mayor’s visit to Qatar is part of a business envoy headed by him, touring the Gulf in order to attract more investments in the British capital.

The Qatar News Agency (QNA) quoted Johnson as saying that UK imports alone, separate from the other EU countries, to Qatar are over £1.3 billion (about $1 billion).

The British official also stated that the relations between his country and Qatar are currently gaining momentum, as both countries recently established joint projects. He also pointed out the “success of the investment experience in the Olympic City in London, contributed to by the Qatari Diar company.”

British Investments

Johnson clarified that Britain also has investments in Qatar through Shell Qatar amounting to about £22 billion ($33 billion). He also added that it is important to continue this investment success between the two countries and to overcome any obstacles that may hinder the flow of investments.

As for the comments made by Diar regarding the Chelsea Barracks, Johnson expects to overcome the obstacles facing the project soon and continue with it in the future.

Last month, the London newspaper, Financial Times, noted that Qatar is planning on pumping investments into the United Kingdom amounting to £10 billion ($14.94 billion). These investments will mainly be in power plants, road projects, railways, and the large Thames Tunnel project for sanitation, to be built under London.