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DOHA: The GCC Economic Forum has given its initial nod to set up a GCC investment company with headquarters in Doha after a three-day marathon meeting held to shed light on investment opportunities in Qatar.
It was disclosed by the Deputy Chairman of the Forum’s Organising Committee and General Manager of Suli Company, Abdurrahman Ahmad Behzad, at the conclusion ceremony of the Forum held here yesterday.
The event was attended by the chairmen of GCC chambers of commerce and representatives from the Federation of GCC Chambers of Commerce and Arab Businesswomen’ Council as well some foreign delegations, Qatar News Agency (QNA) reported yesterday.
The Forum has also recommended to set up some companies and launched projects related to the precious metals and foodstuff to meet the growing demand in GCC countries.
The participants made ground visits to the giant development projects in the country, including Lusail City project, Pearl Qatar, Doha Heart Mshereib Project to know the investment opportunities there.
The Development Planning Commission at the Ministry of Municipality and Urban Planning is working on several development projects including the national plan to develop the plots of lands in the country and to develop Al Khor, Al Wukair and Al Dakhira, spokesperson of the Ministry told the delegation during their visit to the Ministry.
There are more development plans like transportation network, separate lanes for motorbikes and free trade zones that will create huge investment opportunities in the country, she added.
The Ministry of Business and Trade explained to the visiting delegation that foreigners can invest directly in some sectors like tourism, sport and education. It is not true what is understood by large that there must be Qatari partners to launch the projects in the country, law allowed foreigners to invest in some sectors directly, said the Ministry.
Forum aims to attract regional and foreign investments to home by providing investments opportunities in industrial, tourism, real estate and agriculture sectors. It also creates opportunities for GCC businessmen to meet and set up partnership to launch the commercial projects.