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.
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.