The Qatar Investment Authority has spent two decades deploying Qatari wealth at home and abroad, and now its domestic holdings have a vehicle of their own.

Qatar has placed 45 state-owned companies under a new platform, Doha Investment, as it seeks to accelerate its next phase of economic growth. Wholly owned by the QIA, the platform will run the sovereign wealth fund’s domestic portfolio under its own mandate and board, with artificial intelligence, advanced technology, manufacturing and healthcare among its priorities.

Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani announced the plans on Sunday at a special edition of the Qatar Economic Forum in New York. “Through this platform, we aim to expand the role of the private sector in driving Qatar’s economic growth,” he said, adding that it would also deepen capital markets and bring in new international capital and expertise.

The companies operate across more than 80 markets and include Qatar Airways, QNB, Ooredoo, Qatari Diar, Katara Hospitality and Hassad Food. Together they span finance, transport and logistics, telecoms and technology, real estate, hospitality, food and agriculture. Aside from those familiar national names, other companies the platform will target include those operating in advanced technology, manufacturing, supply chains and healthcare.

Qai, Qatar’s national AI platform, set up to support the deployment of AI across businesses and wider society, is also included in the portfolio.

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Sheikh Faisal bin Thani Al Thani, the minister of commerce and industry, will serve as managing director and vice-chairman. He described the step as a consolidation rather than a new creation, one under consideration for more than a decade. “Strong economies are built company by company,” he said. “Doha Investment will be an active, long-term partner to the businesses in its portfolio, working alongside management teams to unlock new sources of value and support their growth and competitiveness in the region and internationally”.

The platform forms part of Qatar’s Third National Development Strategy, which aims to make the private sector a primary driver of a more sustainable and diversified economy. The QIA manages about $580 billion in assets, according to Global SWF.