Foreign investors are expected to invest over $1.5bn into Qatar Stock Exchange listed companies this year, according to QSE Chief Executive Officer, Rashid bin Ali Al Mansoori. The inflows of funds will be driven by companies plan to increase the percentage of non-Qatari ownership. Speaking during an online conference, he announced QSE’s plans to launch Environmental, Social, and Governance (ESG) Index by October this year, which will promote the culture of investing in environment friendly companies.
“Foreign investors are very active in our market. They are responsible sometimes for 30-40 percent of daily turnover. We are expecting a minimum of $1.5bn from passive investors and from active investors a lot more than that,” said Rashid bin Ali Al Mansoori, replying to a query about his expectations of foreign funds inflows after easing of rules regarding Foreign Ownership Limit (FOL).
In April, the Cabinet had approved a draft law allowing foreign investors to own up to 100 percent in Qatari shareholding companies listed on the Qatar Stock Exchange.
Doha Bank hosted yesterday a virtual conference titled ‘Qatar Economic Development and Opportunities’. Doha Bank CEO Dr. R. Seetharaman gave an overview of global and local economy and introduced guest speakers. The Speakers at the event included Yousuf Mohamed Al Jaida, CEO, QFC; Sheikh Dr. Mohammed bin Hamad Al Thani, Director of Public Health at the Ministry of Public Health, and Khalid Abdulla Al Mana, Executive Director of Business Finance, QDB.
Speaking at the online conference, Rashid bin Ali Al Mansoori said “We are expecting more companies to increase their FOL and we hope this happening in the next couple of months, they need AGM for that.”
He said now investors are sensitive about the environment and they like to invest in companies that are functioning environment friendly-way.
“Now investors ask before investing whether a company is environment-friendly or not. By October we will launch our own ESG index,” he added.
More small and medium enterprises (SMEs) are expected to list on the Venture Market (QEVM) dedicated to small companies. “We are expecting listing of another SME. It is already in the final stage. We are waiting for the regulators to approve so that we can go ahead and we expect it to list in by June or July,” he said.
It will become the second company to list on QEVM after Al Faleh Educational Holding Company, whose shares started trading on QEVM from April this year.
