World Economy

Qatar Will Invest $35b in US Over 5 Years

Qatar Will Invest $35b in US Over 5 YearsQatar Will Invest $35b in US Over 5 Years

Qatar plans to invest $35 billion over the next five years in the United States, as the energy-rich country diversifies its global stakes, its sovereign wealth fund said Monday.

The Qatar Investment Authority revealed its US investment plans in a statement announcing the opening of an office in New York, AFP reported.

The office "will enable QIA to develop and expand its global investment portfolio, with the State of Qatar having committed to investing $35 billion in the United States over the next five years," it said. QIA said it also "remains committed to its investments in Europe, Asia and the Middle East," while the New York office "facilitates access to significant investment opportunities."