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Posted On: 31 May 2021 12:53 pm
Updated On: 1 June 2021 10:23 am

Russia and Qatar to discuss possibility of investment cooperation at SPIEF 2021

Vrinda Abilash
Vrinda Abilash
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Economic partnership and intercultural cooperation of Russian companies in the investment dimension of Qatar will make key discussion topics on Qatari-Russian investment cooperation at St. Petersburg international economic forum. It will take place on 2-5 June 2021 in St. Petersburg.

The major investment priority of Qatar and Russia is achieving global goals on sustainable development by the implementation of open innovations policy. Development prospects of cross-country high tech, science-driven, and digital projects are to be involved in the discussion on shaping favorable investment infrastructure and creation of collaborative investment foundations between Qatar and Russia.

Sessions “Innovation and Global Health: a Wealth of Opportunity in Entrepreneurship”, “Russia-Qatar Innovation Dialogue”, “Qatari Startup Investment Event” will become the launching pad where representatives of Russia and Qatar will discuss the unique Qatari platform for international investors at the highest level. They will allow Russian enterprises to benefit from Qatar's business-friendly investment ecosystem and fulfill their plans for growth and development in the region.

The Qatar Investment Authority (QIA) is the sovereign wealth fund of the State of Qatar. QIA was founded in 2005 to invest and manage the state reserve funds. QIA is among the largest and most active sovereign wealth funds globally. QIA invests across a wide range of asset classes and regions as well as in partnership with leading institutions around the world to build a global and diversified investment portfolio with a long-term perspective that can deliver sustainable returns and contribute to the prosperity of the State of Qatar.

Among other participants there will be Qatari Diar, Katara Hospitality, and Hassad Food, hailing from various sectors: real estate, mining, financial institutions, retail. Participating entities are confident that these sectors are the most promising for economic cooperation between the states, with what in mind the heads of the foundations will personally take part in the official delegation of the guest country.

Qatar has a unique experience in creating smart cities. Combining the Qatari experience with technologies from Russia and implementing them in the cities currently under construction in Qatar is one of the possible cooperation directions of real estate. Qatari Diar Real Estate was founded in 2005 with QIA. The headquarters are located northeast of the capital Doha on the Persian Gulf coast. Qatari Diar is put in charge of upholding Qatar's growing economy and coordinating the country's real estate development priorities (creation, development, and management of real estate properties).

Mr. Abdullah bin Hamad Al-Attiyah, Chief Executive Officer, Qatari Diar: “Qatari Diar is a global leader in sustainable real estate, building landmark projects of unrivalled scope and vision. We create vibrant communities dedicated to capturing the hearts and imaginations of the people we serve. These developments are conceived from our commitment to preserving and reflecting local characters and traditions and our visions have created places with a sense of identity and purpose where people aspire to live, work and visit“.

Supporting the real estate sector, Katara Hospitality, developer, operator, and owner of hotels, will present its practices at SPIEF-2021. With 50 years of industry experience, Katara Hospitality is actively delivering on its strategic expansion plans both by investing in finest hotels in Qatar and by increasing its portfolio of iconic properties at key international markets. Katara Hospitality's portfolio has increased to 42 owned and/or run hotels, and the company is currently focused on achieving its goal of 60 hotels by 2030.

Mr. Andrew Humphries, Acting Chief Executive Officer, Katara Hospitality: “We are proud to be a part of the Qatari delegation at SPIEF 2021. As the hospitality flagship of the country, we invest in the best international hotels with the intention of restoring their glory – while also adding extra special touches that make each property memorable. . As the company expands its footprint across the world, we follow a healthy diversification strategy, aiming to create a network of business hotels and leisure resorts in key tourist destinations. This business-driven approach ensures that a balance is met across assets of short- and long-term profitability and that the company’s cash flow projections adequately support its development”.

One more promising direction of Qatari-Russian partnership is agriculture and agritech. Under the auspices of SPIEF, a number of various agreements is expected to be signed. They will bring together Qatari investors and agricultural companies with major Russian agricultural producers. Hassad Food, a fully owned subsidiary of QIA, considered as the country’s investment arm in food and agribusiness sectors. Hassad has several strategic commercial investments both internationally and locally, which supports Qatar’s food security efforts. Internationally, Hassad invested in key strategic establishments in Australia, Canada, Turkey, Oman, Saudi Arabia and Sudan, while in Qatar, Hassad owns multiple subsidiaries that directly manage the company’s key investments. Hassad also plays a major role in crisis management and in the field of research and development.

The State of Qatar will officially participate in SPIEF 2021 as a guest country. At the forum the Qatar pavilion, where the delegation representatives will present the economic potential of the Middle Eastern country to the fullest, will be set out.

Source: Press Release
Cover image source: Shutterstock