London, Tuesday, 24 May 2022
Qatar will invest £10 billion ($12.5 billion) in important British sectors over the next five years as part of a new agreement between the two countries.
According to a British government statement released on Tuesday, Qatar will invest in fintech, zero-emission vehicles, health sciences, and cyber security.
According to the announcement, the Strategic Investment Partnership deal will create "high-quality jobs in new industries across the country."
The investment decision, according to British Prime Minister Boris Johnson, demonstrates Qatar's confidence in the UK's industries.
"Sheikh Tamim bin Hamad's leadership supports Qatar as a valued partner for the UK," he continued.
While bilateral trade between the two nations was roughly $6 billion last year, Qatar's investments in the UK have totalled $50 billion, according to the statement.
The two countries will also collaborate in sectors such as sports, trade, energy, security, military, foreign policy, and media as part of the deal.
(Story by: The Decision Maker - International Relations editors)