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Business / Qatar Business

Qatar offers great incentives to foreign investors: QBA

Published: 01 Jun 2022 - 09:24 am | Last Updated: 01 Jun 2022 - 09:32 am
The Undersecretary of the Ministry of Commerce and Industry H E Sultan bin Rashid Al Khater, QBA Member Salah Al Jaidah with other officials at Qatar’s pavilion at the Hannover Messe International Industrial Fair 2022.

The Undersecretary of the Ministry of Commerce and Industry H E Sultan bin Rashid Al Khater, QBA Member Salah Al Jaidah with other officials at Qatar’s pavilion at the Hannover Messe International Industrial Fair 2022.

The Peninsula

Doha: The Qatari Businessmen Association (QBA) is participating at the ongoing Hannover Messe International Industrial Exhibition 2022. Qatar’s delegation during the event is headed by the Undersecretary of the Ministry of Commerce and Industry H E Sultan bin Rashid Al Khater, who also inaugurated Qatar’s pavilion in the exhibition.

German Chancellor Olaf Schulz officially inaugurated the expo in the presence of the Qatari delegation and the Portuguese Prime Minister, as a strategic partner and also the guest country for the exhibition.

At Hannover Messe, the QBA is represented by Salah Al Jaidah, QBA Member.

During the expo, which celebrates its 75th anniversary this year, exhibitors have the opportunity to fully exploit the market potential of their companies and products and establish businesses across industries globally. Moreover, recent trends and new developments are discussed in many sessions in detail, especially clean energy, green hydrogen and robotics.

Al Jaidah said: “We would like to thank the Ministry of Commerce and Industry for enabling the private sector to participate in this global exhibition, especially since it represents the largest international event specialised in industry, trade and investment, organised with physical attendance since the beginning of the COVID-19 pandemic”.

He added that relations between Qatar and Germany are distinguished, as Germany is an important trading partner for Qatar, whether in terms of strong investment presence in Germany or the presence of German companies in Qatar, which contributed to preparing the infrastructure for the Qatar 2022 World Cup. Al Jaida added that the expo provides an important window for Qatari businessmen, investors and officials of major national companies to learn about the latest innovations and industrial technology.

On the sidelines of the exhibition, Al Jaida, met with Marco Delprete, Secretary of the Ministry of Industrial Development of Mexico and his accompanying delegation. During the meeting, the officials discussed ways to develop relations between Qatar and Mexico in the trade, investment and industry sectors.

Al Jaidah also highlighted that the bilateral relation between Qatar and Mexico goes beyond partnership in the energy sector to other fields such as food, health care, sports, aviation, tourism and retail trade; with many companies opening branches in Doha.

Al Jaidah added that Qatar offers successful economic policies to support the private sector, as well as incentives, legislation and promising opportunities available in the country aimed at encouraging investors, businessmen and owners of Mexican companies to invest in Qatar.

Delprete pointed out that Qatar’s hosting of the FIFA World Cup 2022 is a great opportunity for establishing new business for Mexican companies looking to expand in the region. After hosting the World Cup in 1970 and 1986, Mexico has the experience that will be useful to Qatar, and it is expected that the two countries will work closely to enhance coordination during the next World Cup. 

Trade exchange between Qatar and Mexico reached QR850m in 2021, and a number of Mexican companies are working in the country in many important economic sectors and activities.

Qatar’s pavilion at the expo extends over a total area of 821sqm, and includes 16 specialised bodies in the industrial field from the public and private sectors, including the Ministry of Commerce and Industry, the Investment Promotion Agency, Qatar Free Zones Authority, Qatar Science and Technology Park, QBA, Qatar Chamber, Qatar Development Bank, Qatar Financial Center and Qatar Technology Innovation Center.

The country’s pavilion also includes a number of private companies, such as Qatar Industrial Manufacturing Company, Doha Cables Company, Qtech Switch Gear, Snoonu, Q Terminal, Suhail Industrial Group, and SEA Shore Steel.

During the expo, the Investment Promotion Agency of Qatar held a seminar titled: “The Future Begins Now: The Channels Provided by Qatar for the Growth of Global Companies”, which highlighted the investment opportunities available in Qatar for international companies, whether they are startups, small and medium-sized companies, or mega companies.