QNA

DOHA A MEETING presided over by the Emir His Highness Sheikh Hamad bin Khalifa al Thani on Wednesday finalised the investment strategy and budget of Qatar Investment Authority (QIA) for the current year after considering the investment performance report of the Qatari sovereign wealth fund.

The meeting of the Supreme Council of Economic Affairs and Investment (SCEAI), of which the Emir is President, also considered an explanatory presentation on the action plan for small and medium-sized enterprises (SMEs).

The first SCEAI meet of 2012 was attended by the Heir Apparent and Deputy Chairman of the Council His Highness Sheikh Tamim bin Hamad al Thani. The meeting was also attended by Prime Minister and Minister of Foreign Affairs and SCEAI Executive Member His Excellency Sheikh Hamad bin Jassim bin Jabor al Thani.

“The Council discussed the topics on the agenda and took the appropriate decisions on them,” Minister of Economy and Finance and SCEAI Secretary-General HE Yousef Hussain Kamal said after the meeting.

“The SCEAI considered the investment performance report for 2011 and the investment strategy for 2012 and adopted the budget of the QIA for 2012,” he said.

The Council also heard an explanatory presentations on the action plan for SMEs, which were established following the SCEAI third meeting on August, 14 2011 and the establishment of company with a capital of $1 billion to invest in small capital projects abroad, he added.

It meeting was also briefed on the dependency of Qatar Petroleum (QP) on the SCEAI and took the appropriate steps in that regard, Kamal added.