Qatar Investment Authority (QIA), the Gulf state’s aggressive sovereign wealth fund, has more than $30 billion to spend on investments this year and sees commodities as a key target, a senior executive of the fund said on Sunday.

“We like commodities, we like to invest in commodities. Since 2002, the commodity price trend keeps going up,” Hussain al-Abdulla, QIA’s executive board member told reporters on the sidelines of a conference in Doha.

“Also, because of the financial crisis, people are not investing enough in commodities. Maybe in 2016 and 2017 that might create a gap between supply and demand that might push the price even higher up.”

QIA has been the most active of the region’s sovereign wealth funds in recent years, deploying the Gulf nation’s plentiful natural gas riches in assets ranging from German sports car maker Porsche to British bank Barclays .

0 Responses to “Qatar plans to spend $30 bln in 2012”

  1. No Comments

Leave a Reply

You must login to post a comment.