Emir orders study into operations of state-backed investment firms

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DOHA: The Amir, His Highness Sheikh Tamim bin Hamad Al Thani has given directives to conduct a study and prepare a report on investment companies owned by certain governmental and semi-governmental agencies financed or co-financed by the State, in terms of the nature of their work and activities.

The Emir, who is the chairman of the Supreme Council for Economic Affairs and Investment, chaired the second meeting of the Council for 2015 at the Emir Diwan on Wednesday and ordered to study the situation of these companies, stressing the need to take into account that they should not engage in competitive activities with the private sector.

The meeting was attended by the Vice Emir and Deputy Chairman of the Council, His Highness Sheikh Abdullah bin Hamad Al Thani and the Prime Minister, Minister of Interior and Executive Member of the Council, HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani.

Finance Minister, HE Ali Sherif Al Emadi, who is also the Secretary General of the Council, said in a statement to Qatar News Agency that the Council discussed the topics on its agenda, in particular a update on the Council’s follow-up on previous resolutions and procedures and was briefed on the latest energy and investment developments.

The agenda of the meeting included a presentation on the Qatar National Vision 2030 (QNV 2030) and the most important challenges and a presentation on the investment strategy of the Qatar Investment Authority.

The Emir also gave guidelines to work on the implementation of the strategy according to the QNV 2030 plans.

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