Khater calls on US firms to expand investment in Qatar

Tribune News Network Doha Undersecretary of the Ministry of Commerce and Industry Sultan bin Rashid Al Khater met with a US trade mission delegation curre...

Tribune News NetworkDoha Undersecretary of the Ministry of Commerce and Industry Sultan bin Rashid Al Khater met with a US trade mission delegation currently visiting Qatar, in the presence of Megan Schildgen, Acting Deputy Chief of Mission and Senior Commercial Officer at the US Embassy in Qatar.The delegation included representatives of 10 major US companies, specialising in various sectors, namely oil and gas, energy, information technology, health technology, education, security services, engineering, and consulting services.Trade, industrial, and investment relations between the two countries were discussed, as well as means of developing them in light of the close ties between the two nations.During the meeting, Khater stated that Qatar has sought to accelerate initiatives and projects aimed at enhancing its economic openness and supporting its position as an ideal destination for business and investment. Qatar’s progress in this regard includes the introduction of new legislations that stimulate foreign investors and the private sector, such as the law regulating the investment of non-Qatari capital in economic activity and the investment free zones law, both of which allow foreign investors ownership of up to 100 percent.Additionally, Qatar has allowed non-Qatari individuals and businesses real estate ownership in several vital economic and tourist areas in the country, he said adding that the State had passed a law to regulate public-private partnership, with the aim of increasing the contribution of private sector companies in building, financing, operating, and managing State development projects. He called on American companies to capitalise on said legislations and encouraged them to expand their investment in the Qatari market.The meeting also featured a presentation of the Investment Promotion Agency of Qatar (IPA Qatar) that showcased promising investment opportunities available to US companies, introduced potential investors to Qatar’s business platforms, and highlighted the local business environment’s benefits and incentives for US investors wishing to establish their businesses in Qatar.Qatar and the US foster close economic and trade relations that have positively impacted the trade volume between the two countries, which reached around $5.4 billion in 2021.