Finance Qatari wealth fund targets expansion in Japan By Pramod Kumar June 6, 2024, 6:22 AM Unsplash.com/Sora Sagano QIA is looking to invest in Japan's real estate, manufacturing and semiconductor sectors Qatar Investment Authority (QIA), the country’s sovereign wealth fund, is exploring new opportunities in Japan, according to a media report. “It’s a key market for us,” Abdulla Ali Al-Kuwari told Nikkei, a financial daily in Japan. The fund’s investments in Japan have “more than doubled” after it opened an office in Singapore in 2021, he added. NewsletterGet the Best of AGBI delivered straight to your inbox every week NewsletterGet the Best of AGBI delivered straight to your inbox every week QIA has invested nearly ¥100 billion ($646 million) in Japan to date, the report said. These investments include a 5 percent stake in Kokusai Electric, a semiconductor manufacturing company, worth ¥50 billion. Although the Japan-dedicated team is expanding, Al-Kuwari did not disclose the money earmarked for investment. Semiconductors, manufacturing and real estate top the list, the report said. Gulf states have increasingly been chasing investments in AI and semiconductors, recognising the pivotal role they will play in future economies. AGBI reported in 2023 that Gulf states are expected to invest heavily in powerful semiconductor chips. Bilateral trade between Japan and the wider GCC region stood at around $80 billion in 2021, with Saudi Arabia and the UAE making up around 80 percent of this trade. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
