Qatar's investment strategy in the Maghreb
Qatar is now the richest country in the world thanks to its natural gas reserves and is a global investor. Its investment drive in the Maghreb led by the Emir Sheikh Hamad Ibn Khalifa Al Thani has recently accelerated and he is taking an active part in Maghrebian affairs.
Source : https://www.marocafrik.com/english/Qatar-s-investm...
Aware that hydrocarbon reserves are not eternal, the Qatari authorities is taking advantage of financial comfort provided by the export of oil and natural gas (80% of external revenue and 60% of revenues of the emirate) to diversify its economy. As well as an internal investment plan launched in 2008 called Vision 2030 Qatar has been diversifying its investments worldwide taking advantage of strategic opportunities.
The invasion of Kuwait in 1990 left a lasting impression on Gulf countries and with the situation with Iran's nuclear programme bearing alarming similarities to Saddam's Iraq with nuclear inspectors from the Automic Energy Authority being denied access to a nuclear site in Iran and the inspectors quitting the country there is a sense of deja vu. Naval manouvers in the Gulf are a sign of increasing tension. Qatar's strategic investments however are part of a long term plan to diversify away from hydrocarbons into other sectors.
Jeune Afrique revues Qatar's investment policy in the Maghreb in its latest issue. Secular Tunisians and international observers including The Economist which NAU reviewed in January expressed concerns about Qatars closeness to Islamic parties in Tunisia and Libya but Sheikh Hamad Ibn Khalifa Al Thani's presence at Tunisia's Revolution Day celebrations on 14 January was a significant sign of Qatar's will to be involved in Tunisia's democratic transition and to give it strong support.
Qatar has agreed to acquire for 380 million euros of treasury bills and to fund a series of projects in energy, environment, water, real estate, humanitarian and social issues and it was accompanied with a significant contribution to Tunisia's Martyr's Fund for families of the dead and injured. The Emir said "Your martyrs and your wounded are also ours. " He was signalling badly needed long term support for Tunisia's deeply indebted democratic effort. Qatar had already laid some groundwork for investment in Tunisia in early 2011, it acquired 75% stake in the telephone operator Tunisiana .
Qatar's relations were clouded by its miitary and financial support for the Libyan NTC when Algeria had not yet recognised it.The Emir showed great diplomatic skill in inviting President Abdelaziz Bouteflika to Doha for an energy conference and mediating during a meeting with Libyan NTC President Mustafa Abdel Jalil. Whilst relations between Libya and Algeria are still difficult-the latest incident being 43 Gaddafi era misiles being discovered buried in Algeria near In Amenas, Qatar's investment strategy has moved forward in Algeria despite both countries being competitors in the natural gas sector supplying Europe.
The Qatari Minister of Energy went to Algeria to sign a memorandum of cooperation described as "important." This involved the creation of investment companies in the mining, energy, petrochemicals, agriculture and transport.
Already in 2007 Qatar Telecom's acquisition of 80% of Wataniya Telecom Algeria which became Nedjma,showed a will to invest in Algeria and last month Qatar Industries announced an investment of $ 411 million for a steel complex in Jijel, Algeria. In Mauritania, Qatar Steel is a partner of the Guelb el-Aouj mining project since 2007.
It is in Morocco that perhaps the most significant meeting between the rulers of Qatar and Morocco took place on 21 November 2011 celebrated with a long handshake. The Emir was joined by high level investment leaders from the UAE and Kuwait who have invested in Morocco's tourism industry for sometime. Morocco has a developing private sector and entreprenuers and is far ahead of its Maghrebian neighbours in this respect. Qatar shares the wish to encourage SMES to boost its economy and its share in thriving markets.Morocco's market and investment reforms have helped to put it ahead in private sector development.
Qatar and Morocco are looking to increase their trade and the meeting signalled the creation of a tourism investment fund Wessal Capital, to manage $2.5 billion in investment funds for developing tourism projects in Morocco.At a time of declining tourism arrivals from Europe, its main market Morocco welcomed this strong support. It signalled a far greater involvement in the Maghreb of Gulf countries which are not burdened by Eurozone debt problems. The Middle East and the Maghreb are drawing closer together in a pragmatic relationship where the Maghreb can provide the investment diversification that Qatar and the Gulf States need to help sustain their future generations when the oil and gas runs out.
Qatar has also arranged for the establishment of two islamic banks in the Kingdom via Qatar Internationa Islamic Bank and Qatar National Bank which is planning to take a share of the capital of Morocco's Attiariwafabank. In the real estate sector Qatar will fund the construction of two amusement parks in Casablanca and Marrakech.
A country which has just over 1.7 million inhabitants is reaching out to the world. The revolution in Libya saw Qatar supporting a Nato no fly zone with its own fighter aircraft. In Syria Qatar has led the Arab League efforts to resolve the conflict in Syria. The Emir is enacting a dynamic policy of engagement which includes strategic global investments. How this activism will affect Qatar's relations in North Africa has yet to be seen but a new power is stirring backed by the Al Jazeera satellite channel which has proved to be a remarkable media power.
The invasion of Kuwait in 1990 left a lasting impression on Gulf countries and with the situation with Iran's nuclear programme bearing alarming similarities to Saddam's Iraq with nuclear inspectors from the Automic Energy Authority being denied access to a nuclear site in Iran and the inspectors quitting the country there is a sense of deja vu. Naval manouvers in the Gulf are a sign of increasing tension. Qatar's strategic investments however are part of a long term plan to diversify away from hydrocarbons into other sectors.
Jeune Afrique revues Qatar's investment policy in the Maghreb in its latest issue. Secular Tunisians and international observers including The Economist which NAU reviewed in January expressed concerns about Qatars closeness to Islamic parties in Tunisia and Libya but Sheikh Hamad Ibn Khalifa Al Thani's presence at Tunisia's Revolution Day celebrations on 14 January was a significant sign of Qatar's will to be involved in Tunisia's democratic transition and to give it strong support.
Qatar has agreed to acquire for 380 million euros of treasury bills and to fund a series of projects in energy, environment, water, real estate, humanitarian and social issues and it was accompanied with a significant contribution to Tunisia's Martyr's Fund for families of the dead and injured. The Emir said "Your martyrs and your wounded are also ours. " He was signalling badly needed long term support for Tunisia's deeply indebted democratic effort. Qatar had already laid some groundwork for investment in Tunisia in early 2011, it acquired 75% stake in the telephone operator Tunisiana .
Qatar's relations were clouded by its miitary and financial support for the Libyan NTC when Algeria had not yet recognised it.The Emir showed great diplomatic skill in inviting President Abdelaziz Bouteflika to Doha for an energy conference and mediating during a meeting with Libyan NTC President Mustafa Abdel Jalil. Whilst relations between Libya and Algeria are still difficult-the latest incident being 43 Gaddafi era misiles being discovered buried in Algeria near In Amenas, Qatar's investment strategy has moved forward in Algeria despite both countries being competitors in the natural gas sector supplying Europe.
The Qatari Minister of Energy went to Algeria to sign a memorandum of cooperation described as "important." This involved the creation of investment companies in the mining, energy, petrochemicals, agriculture and transport.
Already in 2007 Qatar Telecom's acquisition of 80% of Wataniya Telecom Algeria which became Nedjma,showed a will to invest in Algeria and last month Qatar Industries announced an investment of $ 411 million for a steel complex in Jijel, Algeria. In Mauritania, Qatar Steel is a partner of the Guelb el-Aouj mining project since 2007.
It is in Morocco that perhaps the most significant meeting between the rulers of Qatar and Morocco took place on 21 November 2011 celebrated with a long handshake. The Emir was joined by high level investment leaders from the UAE and Kuwait who have invested in Morocco's tourism industry for sometime. Morocco has a developing private sector and entreprenuers and is far ahead of its Maghrebian neighbours in this respect. Qatar shares the wish to encourage SMES to boost its economy and its share in thriving markets.Morocco's market and investment reforms have helped to put it ahead in private sector development.
Qatar and Morocco are looking to increase their trade and the meeting signalled the creation of a tourism investment fund Wessal Capital, to manage $2.5 billion in investment funds for developing tourism projects in Morocco.At a time of declining tourism arrivals from Europe, its main market Morocco welcomed this strong support. It signalled a far greater involvement in the Maghreb of Gulf countries which are not burdened by Eurozone debt problems. The Middle East and the Maghreb are drawing closer together in a pragmatic relationship where the Maghreb can provide the investment diversification that Qatar and the Gulf States need to help sustain their future generations when the oil and gas runs out.
Qatar has also arranged for the establishment of two islamic banks in the Kingdom via Qatar Internationa Islamic Bank and Qatar National Bank which is planning to take a share of the capital of Morocco's Attiariwafabank. In the real estate sector Qatar will fund the construction of two amusement parks in Casablanca and Marrakech.
A country which has just over 1.7 million inhabitants is reaching out to the world. The revolution in Libya saw Qatar supporting a Nato no fly zone with its own fighter aircraft. In Syria Qatar has led the Arab League efforts to resolve the conflict in Syria. The Emir is enacting a dynamic policy of engagement which includes strategic global investments. How this activism will affect Qatar's relations in North Africa has yet to be seen but a new power is stirring backed by the Al Jazeera satellite channel which has proved to be a remarkable media power.
Source : https://www.marocafrik.com/english/Qatar-s-investm...