Qatar’s wealth fund is set to see its annual outlays into the US double in coming years on the back of a $500 billion investment pledge.

 

“We believe in the growth and robustness of the US system,” Qatar Investment Authority Chief Executive Officer Mohammed Al Sowaidi said, according to a Bloomberg report. 

 

Al Sowaidi was speaking during a panel at the Qatar Economic Forum, powered by Bloomberg.

 

The fund will likely double — and in some years more than double — its US spend compared to the past five or six years, he said.

 

The comments come days after Al Sowaidi pledged to invest an additional $500 billion in the US over the next decade, an amount that’s nearly equal the fund’s current size.

 

The sweeping new outlays will target areas traditionally favoured by the fund — such as artificial intelligence, data centers and health care — while also aligning with US President Donald Trump’s agenda to reindustrialise the US, Al Sowaidi has previously said.

 

The government of the State of Qatar is the underwriter of the Qatar Economic Forum, Powered by Bloomberg.