As the fifth edition of Qatar Economic Forum (QEF 2025) opened in Doha on Tuesday, the unmistakable imprint of US President Donald Trump’s recent whirlwind tour of the Gulf loomed large—not just over policy discussions, but in the very corridors of regional investment strategy and global alignment.

Just days after White House claimed that Trump has secured over $2 trillion in investment pledges from Gulf economies, QEF 2025 became the platform where financial leaders, policymakers, and entrepreneurs tried to parse what it all means—and whether the Gulf is tilting more decisively toward Washington in an era marked by increasing East-West fragmentation.

US President Donald Trump meets Qatari emir in Doha

US President Donald Trump is in Qatar for the second leg of his Gulf tour. He has secured historic deals worth at least 1.2 trillion dollars with Doha. Earlier, Trump met with Syrian President Ahmed Alsharaa in Riyadh, saying that Washington is on a path to normalising relations with Damascus. The meeting was also attended by Saudi Crown Prince Mohammed bin Salman and, via video link, Turkish President Recep Tayyip Erdogan. Trump will now head to the United Arab Emirates. Rahul Radhakrishnan reports.

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At the heart of the conversation was Qatar’s gifting of a $400 million Boeing 747-8 aircraft – dubbed “palace in the sky” – to replace the ageing Air Force One—a move that has prompted outrage among Democrats in Washington, and applause from Trump himself.

While Qatar's Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani defended the move as “a normal thing that happens between allies,” Senate Democratic leader Chuck Schumer swiftly introduced legislation to ban the use of foreign aircraft as the presidential jet, warning of ‘influence-buying’ by foreign powers.

But Doha appears unfazed.

"We need to overcome this stereotype,” Prime Minister Al Thani said at the forum’s opening plenary. “I don’t know why people consider it as bribery or Qatar trying to buy influence. This is a routine transaction between nations.”

Qatar's sovereign wealth fund is not just talking diplomacy—it is doubling down on dollars. Qatar Investment Authority (QIA) CEO Mohammed Al Sowaidi announced a massive new commitment: an additional $500 billion in US-bound investment over the next decade, with a focus on AI, health care, and data centers.

“We believe in the growth and robustness of the US system,” Al Sowaidi declared.

These announcements were not made in a vacuum. Just last week, during Trump’s Gulf tour, Boeing clinched a record-breaking deal with Qatar Airways for 160 new wide-body jets, plus options for 50 more.

For a forum founded on dialogue, the subtext was loud and transactional.

Global South, entrepreneurs call for deeper cooperation

Yet the American headlines only partially captured the spirit at QEF’s opening day, where voices from the Global South, entrepreneurs, and innovators urged for a more balanced, cooperative global order—one that leverages the potential of emerging markets instead of binding them to rival blocs.

Thomas Hopper, Chairman of Berlin-based Die Jungen Unternehmer (meaning The Young Entrepreneurs ), brought a grounded European perspective. “Germany has seen three years of economic degrowth,” he told TRT World.

“But what brings me back to QEF is the opportunity it provides to build something new through cooperation, not competition. This region, particularly Qatar, is emerging as a catalyst for global entrepreneurship,” said the German entrepreneur.

Hopper’s sentiment was echoed by Fahad Garba Aliyu, Managing Partner at Nigeria’s Ignite Capital, who emphasised the importance of a “South-South” axis of growth.

“Africa has the youngest population and fastest-growing economies. The Gulf has capital and proximity. We’re here to explore how we can collaborate,” Aliyu said. “As the West retrenches, it’s time the Global South rises to its full potential.”

Between AI innovation and geopolitical realities

While global politics cast a heavy shadow, the event also showcased local innovation and digital transformation.

Susanna Ingalls, co-founder and Chief Brand Officer at Urban Point, a Doha-based platform, believes forums like QEF help smaller businesses stay connected to shifting macro trends.

“We’re undergoing an AI transformation ourselves,” said the American entrepreneur who has made Doha her home for the past decade. “It’s thrilling but scary. The progress we see every month is phenomenal. And I think Doha—with its international character—is perfectly positioned as a global hub for innovation.”

Asked to describe the global economy in one word, Ingalls replied: “Interconnected.”

“Even Trump’s recent presence here,” she added, “signals the importance of global engagement. I don’t agree with all of his policies, but as a businessman, he knows the value of peace and stability. And that has a ripple effect on economic priorities.”

US-China rivalry looms as a quiet undercurrent

Despite Trump’s high-profile engagements, another reality tugged at the edges of conversations: the enduring contest between Washington and Beijing for global influence.

Abdulaziz Said Humaid Al Risi, Deputy President at Oman’s Royal Academy of Management, underscored this delicate balancing act.

“The tensions between the US and China are essentially about both nations trying to secure advantages in global trade and geopolitics,” he told TRT World. “For us in the Gulf, this presents both challenges and opportunities. Countries like Oman must maintain strong and balanced relationships with both China and the United States,” he added.

“These two economies are shaping the global economic landscape, and it’s important that we don’t miss any opportunity that may arise from engagement with either side,” he said, explaining how the forum reaffirms that the Gulf is thinking strategically.

Al Risi also pointed to broader regional tensions, including the recent escalation between India and Pakistan and the ongoing Israeli war on Gaza, warning that such uncertainties threaten “economic stability across the region and the world.”

QEF’s first day may be remembered for headlines about Trump’s gifted jet and the backlash it provoked. But beneath the surface, the forum is offering a deeper, more nuanced message: The Gulf—and Doha in particular—is seeking to anchor itself as a pivot between competing powers, as a nexus for talent, capital, and ideas in an increasingly bifurcated world.

For Gulf leaders and their counterparts across the Global South, the question is less about choosing sides and more about staying indispensable to both. That may just be Doha’s greatest diplomatic and economic asset.