Qatar Investment Authority (QIA), the country's sovereign wealth fund, has planned to set up a training academy to sharpen Qatari youth's financial and business skills, according to a report.

The academy will also aim to meet the growing demand for qualified business and finance professionals in Qatar which is witnessing economic boom, sad the Peninsula report.

The authority is completing the procedures for the academy, Ahmad bin Mohamed Al Sayed, chief executive officer, was quoted as saying, at the opening ceremony of the sixth International Forum of Sovereign Wealth Funds (SWF).

Meanwhile, QIA was one of the founders of the International Working Group that drafted the Generally Accepted Principles and Practices, also known as Santiago Principles, adopted by Qatar and SWF members at the International Monetary Fund headquarters in 2008, he said.

As an investment body, QIA aims to create financial value in its projects to make profit for all concerned sides and contribute to pushing forward economic development in markets and countries it invests in, the report added.