Qatar Investment Authority views Azerbaijan as potential partner

Qatar Investment Authority (QIA) considers Azerbaijan both as a competitor and as a possible future partner, QIA chief investment strategist Donald Raymond told Report.

Raymond voiced hope for the establishment of cooperation with Azerbaijan in the future.

As a rule, organizations such as sovereign wealth funds of countries are competitors, at the same time there is an area for cooperation, Raymond said.

Explaining his idea, the financier noted that competition between sovereign funds may arise for an attractive asset that many want to acquire.

He said they also hunt for talents and want to hire good specialists.

The sphere of cooperation can be the exchange of ideas and strategies, the exchange of experience.

Noting that this is his first visit to Azerbaijan, Raymond added that such forums are very useful.

He said that they talked about investing in sustainable development, the approaches to this, and the way this is built into the investment process.

The forum also discussed broader aspects of investment opportunities.

The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. The fund itself defines its goals as "to generate returns for our future stakeholders' saying it aims 'for all our investments to have a positive impact."

As of 2021, the fund's assets amounted to $450 billion. Qatar said this year that it plans to double the size of the sovereign wealth fund by consolidating state assets under one organization. Now this fund ranks ninth in the world in terms of funds.