Posted on November 17, 2018

Minister of Commerce and Industry, H E Ali bin Ahmed Al Kuwari, said that Qatar has succeeded in continuing its balanced growth process thanks to the systematic policies pursued by the wise leadership, which have stimulated various sectors, especially the industrial sector, to increase its productivity and contribute to Qatar’s self-sufficiency in the field of food and medicine.

In a speech during the first session of the Qatari-Ukrainian Joint Committee for Economic, Commercial and Technical Cooperation held in Doha yesterday, the Minister said that the State is developing the export capabilities of specialised companies in the manufacturing sector, strengthening relations with various trading partners around the world, and creating an appropriate climate for attracting foreign direct investment. He said that Qatar is one of the most important countries in the region to invest in, thanks to its strategic position that qualified it to become a commercial hub for the world. “This allows foreign companies looking to expand their business in Qatar to benefit from a sophisticated and tax-free business environment.” He also pointed to many other investment incentives, including the State’s policy to allow foreign investors to own 100% in all sectors and economic and trade activities. 

Commenting on the legislative environment of Qatar, the Minister said that necessary measures have been recently taken to issue a law regulating non-Qatari capital investment in economic activity, which is an important step in enhancing the entry of foreign investors into the Qatari market, protecting them from the risks of side agreements, and reducing trade concealment. Minister of Commerce and Industry H E Ali bin Ahmed Al Kuwari pointed out that Hamad International Airport is one of the largest airports in the region, with a capacity of more than 50 million passengers a year, as well as services provided by Qatar Airways, which flies to more than 150 destinations worldwide, with a fleet of modern aircraft.

The Minister added that Hamad port, which is located south of Doha, also reflects the state’s efforts to accelerate the implementation of its major development projects, as it currently accounts for 27% of the volume of regional trade in the Middle East. He said that the capacity of Hamad port, which can reach 7.5 million containers annually, played an important role in linking Qatar to the largest commercial hubs through direct shipping lines, which strengthened the country’s status as a point of origin and transit for the region and the world.

He pointed out that the volume of foreign trade of Qatar witnessed a growth rate of 16 percent, in addition to an increase in the volume of exports by 18 percent, which contributed to increase the surplus trade balance of the state to about 49.9 percent in the same year. The Minister of Commerce and Industry chaired the Qatari side in the first session of the joint Qatari-Ukrainian committee, which was held in Doha for two days, and was headed by First Vice Prime Minister of Ukraine and Minister of Economic Development and Trade Stepan Kubiv.

The session was attended by representatives of a number of concerned government agencies from the Ministries of Commerce and Industry, Energy, Municipality and Environment, Public Health, Qatar Central Bank, Public Works Authority and the Civil Aviation Authority. The Minister of Commerce and Industry praised the role played by the private sector companies from both countries in supporting the economy of the State of Qatar, pointing out that the number of Ukrainian companies operating in the country with a joint Ukrainian-Qatari capital reached about 39 companies.

source: The Peninsula

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