By Mohammad Shoeb
DOHA: The US is very enthusiastic about Qatar’s proposed $35bn investment plan in the world’s largest economy and it is expecting even more than the amount committed by Qatar, says the US Ambassador to Qatar, Dana Shell Smith.
Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar, opened an office in New York last year to have better access to new and existing investment partners. The move illustrates the confidence Qatar holds for the US and the wider Americas.
“We were very excited when Qatar Investment Authority (QIA) opened their office in New York in September last year,” Shell Smith told The Peninsula on the sidelines of an event organised by Qatar Airways on the occasion of the ongoing ‘Discover America Week’.
“They are committed to investing $35bn over the next five years in the US, and I wouldn’t be surprised if saw that number go even higher because the US economy represents one of the best opportunities in the world now for making money on investments,” she added.
“We are very proud that our economy has rebounded and investors from around the world are flocking to invest in the various sectors of the US economy, including real estate and infrastructure.”
Present at the event were Ehab Abdel Fattah Amin, Senior VicePresident Commercial-Qatar, Qatar Airways and Abdul Salam Abu Issa, Deputy COO and Board Member, Salam International Investment.
She said that the US Embassy in Qatar together with the local organisations are hosting dozens of activities to highlight the growing business opportunities and bilateral trade ties, and also the richness of cultural and educational relationships between the two countries.
The US envoy noted that the average person may not realise the depth of bilateral relations and how much both the countries are doing together in different areas of mutual interests, including trade, investment, business, education, IT, politics and diplomacy.
“Take the example of cooperation in the field of education. The six US universities present in Qatar facilitates exchange of a lot of students”, she added. “In addition, there are film makers, architects, engineers, consultants and many more contributing to the development of the Qatari economy that speak volumes about how big, broad and wonderful the relationship is.”
The combined value of Qatar-US bilateral trade in goods in 2015 stood at $5.54bn (about QR20.17bn), witnessing a sharp fall of nearly 20 percent compared to $6.92bn (about QR25.20bn), the highest ever registered in 2014.
Commenting on the decline in bilateral trade, the envoy said: “The numbers may go up and down, but we are having more and better partners in Qatar every day. Through the ‘Discover America Week’ we are trying to highlight the increase in overall trade and the US brands in Qatar.”
She also noted that all the American companies who are here to participate in Qatar National Vision 2030 are hoping to build the “best World Cup this world is ever going to see in 2022”.
The senior US diplomat also said that if one really wants to see the growth of trade and economic ties, one needs to just enter a mall to see American products, get into a car (referring to the growing number of cars on Qatar roads manufactured by American automobile giants such as General Motors, Ford and others), or take a taxi (Uber) and take a flight on Boeing made aircraft.
“Large number of companies are coming to help build this amazing society the Qatari leadership has envisioned, and Americans are definitely part of this crowd,” she said.
The Peninsula
