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Mon 22 Mar 2010 06:45 PM

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Qatar's sovereign fund may invest $30bn in 2010

Gulf state ready to invest as long as there are 'good returns' - Prime Minister.

Qatar's sovereign fund may invest $30bn in 2010
GOOD RETURN: Qatars Prime Minister said that Qatar was ready to match the $30bn invested in 2009 this year, as long as there was a good return for both sides. (Getty Images)

Qatar Investment Authority, the country’s sovereign wealth fund, invested $30 billion last year and may match that in 2010, Qatar’s prime minister said.

Speaking at a press conference in Doha on Monday with Bulgaria's Prime Minister Boiko Borissov to announce a cooperation agreement between the two countries, Sheikh Hamad Bin Jasim Bin Jaber Al Thani said: “We are thinking to invest the same amount this year."

He added: “Qatar is ready to invest as long as there is a good return for both sides."

Qatar and Bulgaria agreed to establish a joint company to invest in energy, infrastructure and agriculture projects, and signed accords on energy cooperation and taxation.

Qatar, the world’s biggest producer of liquefied natural gas, invests both domestically and abroad to diversify its economy.

Qatar Investment Authority, with stakes in companies including Volkswagen AG, Barclays Plc and J Sainsbury Plc, has about $75 billion worth of investments outside the country, Rachel Ziemba, a senior analyst at RGE Monitor in New York, said in January.

Qatar, with the world’s third largest gas reserves, expects its economy to grow 16 percent this year, from 9 percent in 2009, as three of the world’s largest gas liquefaction plants come on line, raising its annual production capacity to 77 million tons.

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