HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim Al-Thani reviewed today with presidents and directors of major American companies in Harvard Club of New York areas of cooperation and investment opportunities in the State of Qatar.
This came during a roundtable organized at the invitation of the Business Council for International Understanding, in the presence of the Chief Executive Officer of Qatar Investment Authority Ahmed Mohamed Al-Sayed.
At the outset of his speech, HE the Minister of Economy and Commerce spoke about the encouraging investment environment in Qatar, pointing out that such an environment is characterized by transparency and streamlined procedures for local and foreign investors.
He explained regulations of the practice of economic activity in the State of Qatar by foreign capital as well as the laws of the company foundation law which are integrated to make the State of Qatar an attractive economy to foreign capital, referring in this respect to the openness and the flexible and quick procedures.
The State of Qatar, while applying Qatar Vision 2030, seeks to liberate the Qatari from relying on just oil and gas as two major income sources, and is working to diversify its economic base through the use of creative economy mechanisms, the Minister said.
In this context, the Minister of Economy and Commerce pointed to the huge investment in the infrastructure development, in addition to the opening of the door wide for those interested in investing in the fields of industry, agriculture, education, health, services, consulting, information technology, hospitality, tourism and recreation, industry petroleum derivatives, (petrochemicals ), construction sector and real estate.
He told participants in the roundtable, that foreign investors could be able to participate in all economic activities in the State of Qatar by owning 49 per cent of the invested capital, and this percentage could rise to reach 100 per cent in certain areas such as agriculture, industry, health, education, tourism, development and extraction of minerals and energy, consulting, culture, sports, technical services and technology, according to the provisions of law No. 13 of 2000, adding that foreigners can own real estate in some specific locations.
HE Sheikh Ahmed bin Jassim A-Thani said investment can be made at Qatar Financial Centre and the Educational City since they are viewed as a free trade zone, stressing that national laws governing economic activity are flexible and are updated on a continuous basis to keep pace with international standards.
He stated that the rates of taxes and fees for founding companies in the State of Qatar are encouraging factors for investors because they are low, pointing out that the Qatari laws give encouraging facilities to the foreign investor.
Source : Qatar News Agency
