British prime minister says investment decision shows Qatar’s trust in UK businesses
As part of a new agreement between the UK and Qatar, the Gulf country will invest £10 billion ($12.5 billion) in vital British sectors during the next five years.
Qatar will make investments in fintech, zero-emission vehicles, life sciences, and cyber security sectors, according to a British government statement on Tuesday.
The Strategic Investment Partnership agreement will create “high-quality jobs in new industries across the country,” the statement read.
British Prime Minister Boris Johnson said the investment decision showed Qatar’s confidence in the UK’s businesses.
“Qatar is a valued partner for the UK, supported by Sheikh Tamim bin Hamad’s leadership,” he added.
While the two countries’ bilateral trade was around $6 billion last year, Qatar’s investments in the UK reached $50 billion so far, the statement noted.
As part of the agreement, the two countries will also cooperate in different areas such as sports,trade, energy, security, defense, foreign policy, and media.