We all know Qatar as the oil power of the world, but, there is more to it. Qatar is among the smallest
gulf country that refused to join the United Arab Emirates and emerged as an independent kingdom
in 1971. The desert peninsula has a population of 2.5 million and is the largest producer and exporter
of liquified natural gas. The Qatar Investment Authorities, founded in 2005 with $ 450 billion in
wealth funds, are turning towards technology companies in a growth market.
Qatar is one of the wealthiest countries in the world that is diversifying its economy. They have
accelerated technological investments and are in talks with technology-focused equity funds. QIA is
considering the purchase of direct stakes in technological firms and startups. They have led funding
rounds of Turkish artificial intelligence unicorns, bought a stake in an aerospace tech firm, and
invested in U.K. digital lender. It is also committed $1.5 billion to a James Murdoch-backed venture to
invest in Southeast Asia’s media and consumer tech opportunities.
As Qatar is water-stressed, it invested money into indoor farming and plant-based meat alternatives.
It also opened its property market for foreigners in November 2020. The Qatar Investment Authority
spent lavishly on Britain’s businesses, including luxury store Harrods. Not just the technology, Qatar
is also home to the biggest U.S. military base in the Al-Udeid airbase region, which recently
underwent million dollar expansion. It also has a close economic and military alliance with
Washington. Also, QIA has committed a $2 billion investment in Indian companies since 2020.
References
https://www.deccanherald.com/world/qatar-tiny-soft-power-giant-built-on-gas-wealth-1035733.html
https://www.reuters.com/article/us-qatar-investments-idUKKBN1O914P/
