Keeping Qatar’s High Status By Means Of New Investment Plans
It is a prevailing fact already that Qatar is one the wealthiest countries with huge reserves of natural gas in the world. At this point, Qatar is one of the major suppliers of natural gas all over the globe with over 15 billion barrel of oil reserves it is expected for them to supply similar amount of natural gas for the next 23 years. But of course, the latter is just one aspect that makes the economy of Qatar promising, many might not be aware about it but the country actually have huge investments in Great Britain for about ?35 billion and it is expected to invest another ?5 billion in UK’s energy resources, IT sector, and establishments for the coming years.
The bond that Qatar and UK has is quite deep since the QIA or widely known as Qatar Investment Authority owns an approximate of 20% in one of London’s international airports while the Qatar Airways is a major stockholder in British Airways since 2016. Another good thing is that Qataris pay cheaper amount for their gas compared to bottled water however despite its country’s wealth they tend to be frugal. There was a survey conducted which reveals that most Qatar-based business owners go for cheaper or free services even if they can afford those expensive ones. For instance, instead of spending their money on pricey software they go for online free letterhead maker.
It is also a must that you are aware of the fact that Qatar is the primary supplier of LNG in almost all parts of UK, the term LNG stands for liquid natural gas. This creates a significant impact in Qatar’s economy since more the 1/4 of UK’s fuel imports are in a form of natural gas. The location of Qatar became its strengths as well, since the place is said to be known as a natural gas field. Even if there is a good source of oil output in country still many people are using conservative strategies in order to provide sustainability in the coming years.
Qatar has been providing an investment for approximately ?1 billion to UK each year, starting this year and for the next five years however the returns have actually slowed down compared to the past years which is quite disturbing. This is the main reason why the QIA plans to seek other countries where they can invest and make significant returns and apparently they go for US as their next target, they plan to go for an investment that is approximately worth $35 billion.
Even if Qatar is seen as one of the wealthiest countries in the world, the country needs employ feasible steps that will keep their country’s wealth and status high more importantly that people are drastically shifting to renewable energy sources.