QIA's Investment Plans Continue Despite Decline in Oil Prices : QIA Chief Says

Doha , November 20 (QNA) - HE the Chief Executive Officer (CEO) of the Qatar Investment Authority (QIA) Ahmad Bin Mohamed Al-Sayed affirmed that the QIA's investment policies will not be affected by the current decline in oil prices. In a press conference held here today on the sidelines of the sixth annual meeting of the International Forum of Sovereign Wealth Funds (IFSWF) , QIA chief said that the QIA has a long-term plans to invest from 15 to 20 billion dollars in the Asian markets over the coming years, adding that the QIA has good scalability in this region in order to ensure the diversity of its Investment Portfolio.      He emphasized that the QIA has a global strategy based on the distribution of its assets in good areas, noting that the QIA seeks to diversify its investments in various sectors annually depending on the available investment opportunities. Al-Sayed said that the QIA's companies such as Qatari Diar Katara Hospitality had already investments in the Arab countries, adding that it had signed an agreement with the Chinese CITIC Group during the visit earlier this month by HH the Emir Sheikh Tamim bin Hamad Al -Thani. QIA has plans to increase the size of its investment in China in particular and Asia in general, he added. QIA chief asserted that investment opportunities are linked to good deals in line with the QIA's objectives in building long-term trade relationships. On QIA's purchase a stake in Hong Kong-listed retailer Lifestyle International, Al Sayed said that this comes within QIA's plans to diversify its investments. The objective of this transaction is a long-term one in order to reap the benefits of those investments , he added. He said the goal of the forum is to draw basic principles for the work of the IFSWF , stressing that the QIA is dealing with complete professionalism due to the investment strategy, taking into account that the purpose of the QIA's establishment which aims to invest and manage the state's reserve, saying there is no room for political impacts in QIA's works because politics and investment do not meet together. (QNA)