RIYADH: Qatar will venture into France’s tech industry as a major investment body announced its intent to anchor a financial commitment in Ardian Semiconductor.

This move marks the Qatar Investment Authority’s participation in a pioneering thematic fund designed to enhance the semiconductor industry in Europe. It highlights its role as a preferred financial partner in key technology subsectors, including supply chain developments. 

QIA’s strategic focus on this sector reflects its belief in the critical role semiconductors play in driving digital and green transformations across vital industries such as artificial intelligence, mobility, and consumer technology, according to an official release. 

This initiative is part of QIA’s broader investment strategy to engage with leading businesses at the forefront of innovation.  

Notably, QIA’s interest in the semiconductor value chain includes a recent minority stake in Japan’s Kokusai Electric Corp., a leader in semiconductor manufacturing, taken in June 2023, underscoring its ongoing commitment to significant investments in this area globally. 

Furthermore, on May 13, QIA announced its plan to significantly expand its investment partnership with Bpifrance by as much as €300 million ($323 million), reinforcing their joint commitment to stimulating economic growth and innovation in France.  

This enhancement marks a pivotal development in their collaboration, initially established through the Future French Champions joint venture. 

The first phase of this partnership, concluded in 2021, effectively channeled almost €300 million into supporting job creation, economic development, and particularly bolstering the French small and medium-sized enterprises sector.  

Building on these achievements, both entities progressed to the second phase of their collaboration in January 2023, committing an additional €300 million.  

They now plan to embark on a third phase, pledging up to another €300 million once the current funds are fully deployed.  

The renewed partnership will focus on strategic priorities such as artificial intelligence, semiconductors, quantum computing, healthcare, aerospace, and energy transition. 

These investments are intended to advance technological capabilities, enhance competitiveness across various sectors, and promote sustainable growth, reflecting both parties’ commitment to driving significant innovations and supporting France’s long-term economic objectives.

RIYADH: Economic and regional integration among the six Organization of Islamic Cooperation member countries is set to grow with a new program from the International Islamic Trade Finance Corp. 

The Trade Connect Central Asia+ Program, also known as TCCA+, was launched recently by ITFC, a member of the Islamic Development Bank Group, during the third Tashkent International Investment Forum. It is poised to enhance economic growth in Kazakhstan, Kyrgyzstan, and Tajikistan, as well as Turkmenistan, Uzbekistan, and Azerbaijan. 

The region, which boasts one of the world’s largest energy resources and significant production capacities in energy and agriculture, currently lacks the trade markets needed to harness its full potential, according to a press release.

In a statement at the launch, Hani Sonbol, CEO of ITFC, said: “We are immensely proud to launch the TCCA+ Program, which represents a significant step forward in enhancing economic cooperation and boosting trade across the Central Asia region and beyond.”  

He stated that this initiative is designed to unlock the vast economic potential of the region by facilitating increased regional trade and investment.  

“With a focus on the energy and agriculture sectors, we are committed to fostering sustainable economic growth and regional integration that benefits all member countries involved,” added Sonbol. 

Focused on boosting regional trade and expanding the export base toward higher value-added products, the TCCA+ Program is anticipated to foster inclusive and sustainable economic growth, alongside promoting regional economic integration among the six targeted countries, the release added.