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. Qatar have also taken steps in investing substantial amount in Britain for about ?35 billion and an additional ?5 billion investment plans for UK’s IT sector, energy resources and of course its different infrastructure for the next five years.
It is also a fact that the QIA also known as Qatar Investment Authority owns approximately 20% in one of the major international airports in London and they are a major stockholder in British Airways. In addition, Qataris doesn’t need to pay significantly high amount for gas compared to a bottled water however even if their economy is booming they tend to be prudent with the nation’s wealth. There was a study conducted which reveals that business professionals in Qatar tend to use cheaper or free services rather than spending their money on a much greater services. For instance, instead of spending their money on pricey software they go for online free letterhead maker.
Aside from the fact that the country has high investments in London, it was also revealed that the country is the major supplier of the LNG needs in almost all parts of UK, LNG refers to 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. Since Qatar is lies in the South Pars Field, this is another factor that contributes to its booming economy, the said place is known as one of the sources of natural gas. Indeed there is a great oil output in the country on a yearly basis but still people put significant emphasis on conservative approaches to provide sustainability in the coming years.
As mentioned earlier Qatar has been making investments in UK this year and for the next five years, the investment is approximately ?1 billion however the growth seems minimal compared to the past years which is quite alarming. With that being said, the QIA intends to invest in US, the expected amount for the investment is 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.