IPA Qatar signs 3 investment agreements at SPIEF 2021

Tribune News Network Doha Investment Promotion Agency Qatar (IPA Qatar) has signed three Memoranda of Understanding (MoUs) with Russian entities on the sid...

Tribune News NetworkDohaInvestment Promotion Agency Qatar (IPA Qatar) has signed three Memoranda of Understanding (MoUs) with Russian entities on the sidelines of the 24th edition of the St. Petersburg International Economic Forum (SPIEF). The MoUs bolster the Russian investments across different sectors, including agriculture-technology (Agri-Tech), transportation and hospitality, cybersecurity, and IT.In line with its core mandate to attract foreign investments into Qatar and showcase the State as an exceptional investment destination, the new partnerships set forth the framework of cooperation between IPA Qatar and the three Russian partners, including BI.ZONE, one of the most innovative Russian cybersecurity companies; Accord Pitch Doha (APD), a Russian transportation and hospitality service provider; and Wadi Water, an innovative Agri-tech company. The MoUs will further strengthen the diversification of the Qatari-Russian ties and accelerate the growth of Russian investments in the country.Supporting investors to advance their ambitions and pursue a unique business journey in Qatar, IPA Qatar will facilitate the operations of Bi.ZONE to set-up an infrastructure on the premises of Meeza, as well as hiring and training local specialists over the next 5 years. Additionally, the Russian company will establish a regional centre for cybersecurity excellence to serve Qatar and the GCC region. Similarly, IPA Qatar supports APD to implement its investment plan, which entails the provision of transportation, accommodation and consulting services related to global sporting events, including FIFA Arab Cup 2021™, and FIFA World Cup Qatar 2022™. Equally significant, the IPA Qatar’s MoU with Wadi Water will enable the company to provide innovative technologies to the agriculture industry in Qatar in order to produce high quality products while reducing water waste.Sheikh Ali Alwaleed Al-Thani, Chief Executive Officer, IPA Qatar, said: “We are delighted to foster key partnerships with Russian investors, such as BI.ZONE, APD and Wadi Water, and embark on collaborations that create more business avenues for investors in Qatar’s thriving market. Additionally, the three MoUs complement our efforts in smoothing the way for investors’ journeys to business success in Qatar, while transforming and diversifying one of the world’s most prosperous economies.”Dmitry Samartsev, CEO, BI.ZONE, highlighted: “Cybersecurity is one of the key priorities for digital development in the Middle East. I believe that our collaboration with IPAQ will open up great opportunities for us to explore the needs of Qatar state and provide services to strengthen cyber resilience of the whole region.”Stepan Lianozov, Managing Partner, APD, said: “The upcoming FIFA World Cup will showcase Qatar to international tourists and businesses. APD is the key player in global sports events. We aim to transfer the knowledge (particularly from 2018 FIFA World Cup in Russia) and invest in educating and training local teams and suppliers, developing the local infrastructure, and procure services for our international clients from local sources. During the last three years, Accord Pitch Doha already engaged in close cooperation with several local partners. We believe in the efficiency of our investment and plan to continue working in Qatar after 2022.”Andrey Martirosov, CIO and Co-Founder, WadiWater, stated: “The goal is to create an innovative direction in AgriTech in Qatar using water from the air. Prior to the creation of this project, WadiWater had been distributing and testing atmospheric water generators in Qatar for several years and was looking for areas for applying this technology with maximum benefits for both the environment and the people of Qatar. An important event in the activity was the meeting with the IPA, which directed the company’s vision to the agriculture and farming industry.”