Doha, May 23 (QNA) - HE Chief Executive Officer of Qatar Investment Authority Mansoor Ebrahim Al Mahmoud said that global markets have undergone fluctuations, changes and high inflation rates never experienced before, noting the reluctance of some companies to invest because they encounter budget problems which could be reflected on the size of savings, as well as sovereign funds and liquidity.

In his answer to questions raised by the editor-in-chief of Bloomberg News John Micklethwait during the second session of Qatar Economic Forum under the title: "Creating a Long-Term Investment Strategy", His Excellency said the QIA invests in a wide range of sectors in light of these global situations, pointing out that it is important to identify key investment destinations, especially that Qatar has good governance and it is imperative to have an evaluation track for countries where the State of Qatar is investing, whether in Brazil, India, China or other countries.

He added that the QIA is investing in technological sectors in India and China, indicating that the QIA determines its type of investments and chooses the suitable and safe place for it, especially that it has a qualitative crisis management, consolidated relationships and partnerships with all, as well as legislation, sophisticated infrastructure, capital and young leaders who believe in the importance of supporting local economy and effectively contributing to the growth process.

He stressed the possibility of undertaking a complementary role for advanced countries and Qatar can be a potential hub for finance and business in the region like Singapore and Hong Kong.
On his vision for the region and the State of Qatar, HE Chief Executive Officer of the QIA pointed to the major successes Qatar has achieved during its hosting of the 2022 FIFA World Cup, outlining that such successes would be further consolidated to build and expand its partnerships with various institutions and entities as well as funds that play a critical role at all levels.

His Excellency stressed the criticality of confidence in banking sector because it has a role in optimizing banks' general performance, noting that whenever there is a decline in trust it will reduce performance and can lead to a collapse.

Responding to a question on the major global transition to AI and blockchain technology, HE Mansoor Ebrahim Al Mahmoud said although these technologies did not dramatically alter the status quo, however, Qatar is dealing with the evolution and has subsequently conducted many researches about them, outlining that Qatar needs legislations that regulate the operation of these technologies. Qatar has digitization and communication entrepreneurship, along with infrastructure and always focuses on strengths to attract technological investments, he added.

For her part, Global Head of sustainability and inclusive growth Dina Powell McCormick said the State of Qatar's interest in investment and economic diversification through thinking of posterity's future makes it a pioneer in governance, outlining that such a thing precipitates the importance of investing in AI and clean energy by all entities, which is of paramount importance for GCC states.

Regarding the economic situation in the United States, McCormick noted the recession in the US economy despite the assured statements given by President Joe Biden, pointing out that it is important to understand the methods of controlling of the general expenditure in the US considering the endeavors to survive.

Therefore, constructive dialogue should be considered since everyone is paying exorbitant prices for that, she said, while noting the potential and enormous wealth the GCC states enjoy, adding that the Gulf region and the Middle East are safe for investment. There are disturbances in energy market, an exigent need for capital; investment is essential to solve these problems, and the QIA focuses on this matter, she said, emphasizing that a hybrid capital must be built, especially that there are successful partnerships, as well as funding mechanisms and risk evaluation tools.

To address all changes and risks, McCormick sees that elements of innovation, investment, leadership should be put in place, emphasizing that private energy has these overall elements, which per se, are economic and industrial revolution that would achieve major gains if they were handled properly.

On the case of pessimism that prevails global markets with the ensuing knowledge crisis, Chief Executive Officer of Standard Chartered Bill Winters pointed out that banks have overcome challenges and crises they encountered after enforcing numerous laws on them, adding that everyone was able to identify weaknesses, but he emphasized the importance of exploring necessary means for long-term investment, especially that all banks are susceptible to crises from time to time and the method of solving them is a successful deal for them. He called for handling the liquidity and credit matters with full circumspection. (QNA)