Asian Markets Poised for Long-Term Favorable Growth, Says QInvest Chairman

Doha, November 16 (QNA) - Asian markets are placed good for long-term favorable growth even as the European crisis continues to create uncertainty, the chairman of Qatar's leading investment bank told a forum here Wednesday. Speaking at the third Annual Qatar Global Investment Forum (QGIF) 2011 today, QInvest Chairman HE Sheikh Jassim Bin Hamad Bin Jaber Al Thani, said, "Asian markets are positioned for long term favourable growth, they are impacted with lower growth projections in the shorter term. This uncertainty, compounded by continuing concerns over potential systemic risk in Europe, continues to generate imbalances and extreme volatility in global markets." Sheikh Jassim highlighted the current challenges the global economy is facing. He delved on the European sovereign risk as it continues to create uncertainty with markets assessing the risk of contagion as the story moves from Greece to Italy and other European countries come under scrutiny. On US prospects QInvest Chairman said, that the most recent data indicates the US market's chances of avoiding recession are improving, longer term reduced growth rates may prevail. Sheikh Jassim today welcomed over 450 leaders and decision makers from the world of industry and finance banking experts to the event organised by Institutional Investor Conferences and supported by lead sponsor Qatar Financial Center Authority (QFCA). Turkey's HE Minister of Finance Mehmet Simsek delivered a keynote address on the global economic outlook with a special focus on Turkey. A keynote speech titled 'Fragility' was delivered by Professor Nassim Taleb, the author of 'The Black Swan' and distinguished scientific advisor to Universal Investments LP. The founder and CEO of Landmark & Globalist Funds Ahmed Fattouh and Professor Nassim Taleb were the other speakers. Al Arabiya News Channel's Anchor Nadine Hani moderated the forum's panels that explored the outlook of Qatar, GCC and the major growth economies surrounding the region including Turkey and India. The panelists highlighted some of the key characteristics, sectors that would drive growth and identified the risks and challenges that may impact growth and investment, including the global financial crisis, of these economies. QInvest CEO Shahzad Shahbaz, one of the speakers on the panel discussion 'Country in Focus - Qatar', said, "Qatar has experienced significant growth in recent years. Money from oil and natural gas continues to be channelled into the economy while government policies enable the private sector to prosper in the building of a modern state." "QGIF 2011 has once again attracted some of the most prominent leaders in industry and finance across our region and internationally who have come together to share some of their thinking on investment strategies in Qatar, the region and internationally. Their perspectives on opportunities and risks will shape the way forward for many delegates who attended QGIF today," he said. The Qatar Country Focus session which included Group CEO of Barwa Real Estate and Managing Director and Board Member of Qatar Railway Company Eng. Abdulla Abdulaziz T. Al Subaie, QInvest CEO Shahzad Shahbaz and Supreme Council of Information and Communication Technology ictQATAR Secretary GeneralDr. Hessa Al Jaber discussed the way forward to 2022 and beyond, and the significant opportunities for both foreign and private sector investment. The panel also probed the key sectors of real estate and the financial sector and stressed the need to develop the asset management industry as well as the role of technology in the country's growth plans.