Posted on June 08, 2019

The Ministry of Commerce and Industry is participating in Qatar’s pavilion at the 23rd edition of the St. Petersburg International Economic Forum (SPIEF) 2019, which will runs from June 6 to 8 under the theme “Establishing a Sustainable Development Agenda.”

The Ministry of Commerce and Industry’s participation in Qatar’s pavilion comes within the framework of its efforts to enhance economic, trade and investment relations with Russia. The forum also provides an opportunity to highlight Qatar’s attractive investment climate and the investment opportunities that the state offers in various promising sectors, which will contribute to attracting foreign direct investments and strengthening Qatar’s competitive position in the region and beyond.

Through its participation in this year’s edition of the forum, the Ministry of Commerce and Industry highlights the characteristics of Qatar’s investment environment and provides insight into the key laws and legislations adopted by the state to stimulate domestic and foreign investments including the law on regulating the Investment of the non-Qatari Capital in Economic Activity.

The pavilion showcases the incentives and advantages offered to investors such as the exemption of foreign capital from income tax for up to ten years when it comes to specific investment projects across many sectors in addition to exemptions from customs taxes and duties when importing equipment and raw materials. The Ministry also highlights the services it provides to investors to streamline investment applications, company incorporation procedures and various transactions.

Qatar’s participation in the 23rd edition of the SPIEF precedes the designation of Qatar as an official partner of Russia in the 2020 edition of the forum, which will bring together over 600 participants from Qatar. Qatar is represented through a pavilion that brings together a number of government entities including the Ministry of Finance, the Ministry of Commerce and Industry, Qatar Chamber, Qatar Russian Business Council, Qatar Development Bank, Qatar Financial Centre, Qatar Investment Authority, the Free Zones Authority, Ooredoo, Qatar Airways, Qatar National Tourism Council, the Supreme Committee for Delivery and Legacy, Gulf Organization for Research and Development, Qatar Science and Technology Park, Qatar University, the Center for Sustainable Development at the College of Arts & Sciences, and Hamad Bin Khalifa University.

The St. Petersburg International Economic Forum, which has been organized since 1997, is a leading global platform that brings together politicians, decision-makers, economists and business leaders from around the world along with representatives of academic and media institutions and civil society organizations. The annual forum features numerous events, business forums and meetings for business representatives in addition to discussions on economic issues facing Russia, emerging markets and countries worldwide. Last year’s edition of the forum witnessed an unprecedented turnout. Some 17,000 participants from 143 countries attended the forum while more than 150 business events featuring over 1,000 speakers were held in addition to the ratification of 593 investment agreements.

source: The Peninsula