CEO of Qatar Investment Authority: Qatar Doesn't Need to Liquidate Investment Assets

Doha, April 16 (QNA) - HE Chief Executive Officer of Qatar Investment Authority (QIA) Sheikh Abdullah bin Mohammed bin Saud Al-Thani said that the State of Qatar does not need to liquidate its investment assets to support the banking system and it has a strong economy and its financial budget is increasing year by year. In an interview with the Lusail newspaper on the sidelines of his visit to US Miami city in Florida, HE denied that the Authority liquidated any of its assets to support the Qatari banking system during the Gulf crisis, which began last June by the siege of Qatar. HE also said that the QIA completed the "deal of a lifetime" which will be announced in the coming days. QIA Chief Executive Officer added that the Authority is continuing its operations and investments around the world, pointing out that there is a major deal in Miami to be announced in the next few days and will be the 'deal of a lifetime' for the Authority. HE did not specify in which sectors or the cost of the deal. HE also denied reports that the QIA disposed its assets around the world, stressing that it is unfounded news, pointing out that there may be normal sales to engage into other investments or seize the opportunity when the return on investment reaches its peak. He also explained that the restructuring process carried out by the Investment Authority for local companies during the last two years was successful and that these companies are growing significantly and continuously because they have distinct boards of directors and adhere to the governance established by the QIA. Regarding recent news that Qatar Investment Authority has sold part of its stake in Russian company 'Rosneft', the world's energy giant, HE Sheikh Abdullah bin Mohammed bin Saud Al-Thani said that this is not true, adding "our investments in Rosneft are one of the most successful investments, which are good and excellent, and we did not sell any part of our stake, and what happened were only discussions with the Chinese side." HE Chief Executive Officer of Qatar Investment Authority underlined that the investments in the United States are stable and strong, and the Authority has implemented about 60 percent of its announced plan, which is an investment of about $35 billion in the period from 2015 to 2020. (QNA)