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IFSWF to establish its Secretariat Office in London
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government
The International Forum of Sovereign Wealth Funds has announced its decision to establish its secretariat office in the city of London.
Moving from its current premises in Washington DC, the decision is a demonstration that the City of London is a leading global financial and professional services centre, and an ideal environment for international organisations dealing with global stakeholders such as Sovereign Governments. In selecting London as its base, the IFSWF took into account factors including ease of access, ease of doing business, the quality of the legal and regulatory environment and deep pool of skilled labour.
UK Chancellor of the Exchequer Mr George Osborne said:
I am determined to secure the UK’s position as a world class business and financial centre. That’s why it’s great news that our bid to bring the International Forum of Sovereign Wealth Funds to London has been a success. This is yet another vote of confidence in our long term economic plan.
Commenting on the decision Her Majesty’s Ambassador to Qatar, Nicholas Hopton said:
The decision to base the IFSWF in London is testimony to the UK, and of course to London’s, long standing reputation as an open and vibrant economy. The UK has consistently welcomed sovereign wealth investment, encouraging the removal of barriers at international level to the free flows of investment funding. Indeed, sovereign wealth has always been an integral part of the UK’s commercial relationship with Qatar and I see the decision to locate the IFSWF Secretariat in London as a way to develop these ties further. The UK Government welcomes Qatari investment across a range of sectors - just as British business plays such an important role in Qatar as it prepares for delivery of the 2022 World Cup and its 2030 National Vision. This is part of a wider bilateral partnership that has been growing from strength to strength over the years.