USQBC's Managing Director Speaks at Sovereign Wealth Fund Conference in Washington
On October 6, Mohammed Barakat, the managing director of the US-Qatar Business Council spoke at the Third Sovereign Wealth Fund Conference at American University in Washington, DC.
During Mr. Barakat’s panel titled “The Current Environment and Recent Developments,” regarding sovereign wealth funds (SWFs), he spoke about how commodity price fluctuations have changed the strategies, management and vitality of some SWFs in the Gulf region.
“Sovereign wealth funds have allowed governments to maintain investments despite changes in oil prices and economic crises,” said Mr. Barakat.
Over the past year sovereign wealth funds have grown in importance as Middle Eastern nations have needed to diversify their investments. The precipitous fall in oil prices has resulted in many oil rich nations, especially those in the Middle East, turning to SWFs to help grow and diversify their economies. They have become a vital pillar of these economies as these nations pursue public-private partners, and other ventures to ensure economic stability and growth.
The panel was moderated by Mr. Nazem Fawwaz Al Kudsi of Frontier Partners and joining Mr. Barakat was Mr. Mohammed Saif Al Sowaidi, President of Qatar Investment Authority Advisory (USA), Mr. Geoffrey Davis, Parter at Squire Patton Boggs, and Ambassador Adam Ereli, Vice Chairman of Mercury.