Posted on June 25, 2018
 Qatar and Singapore entities

Enterprise Singapore and Qatari banks discussed collaboration in the area of financial technology (Fintech) on the sidelines of the first meeting of the implementation monitoring mechanism of the Qatar-Singapore High-Level Joint Committee, Ambassador of Singapore to Qatar HE Jai Sohan said. 

The Ambassador said Enterprise Singapore is currently putting together a delegation of companies for a mission to explore opportunities in the area of financial technology. He said there has also been interest between the two sides to explore collaboration between their central banks in regulatory frameworks. Commenting on Singapore's contribution to the self-sufficiency efforts of Qatar amidst the current situation in the region, Ambassador Sohan said Singapore is also exploring collaboration with Qatar in food security and transport connectivity. 

In a recent interview with Qatar Tribune, the Ambassador said:"Singapore is predominantly a services-based economy, but we are also a major regional hub for the oil and gas sector in Southeast Asia. Given this, most of our exports to Qatar include products such as petroleum oils and other hydrocarbon derivatives. We also export components for heavy machinery such as gas turbines which are used in the aviation and maritime sector, in addition to a small quantity of jewellery and precious metals. The value of our exports to Qatar since the blockade has been stable. Given Singapore's status as a major transshipment port, we also encourage Qatari shipping lines to use Singapore as a hub for imports into Qatar."

In the field of tourism, the Ambassador said while tourism exchanges between the two countries are good, he believes that there is still much room to grow the volume of tourism between Qatar and Singapore given that the two countries enjoy excellent air connectivity. Qatar Airways is operating three flights daily between Doha and Singapore. "The Singapore Tourism Board recently released our new tourism promotional campaign themed 'Passion Made Possible' which aims to showcase the spirit and character of Singapore to our international guests in the areas of culture, nature, cuisine and celebrations. Singapore is an interesting place for tourists. We are a small country yes, but this also makes it easy for visitors to do many things in a short space of time," he said.

"Our society is a rich tapestry of cultures, languages and religions, and this diversity is reflected in the colourful festivals and celebrations that take place throughout the year. Our traditions are also reflected in the variety and flavours of our cuisine, which reflect culinary influences from the Malay Archipelago, China and India, and around the world. Singapore is one of the most family-friendly countries in the world," he added. Similarly, he also said there is much more the two countries can do in terms of beefing up their educational and cultural exchanges. In terms of investments and ongoing projects between the two countries, he said the significant agreement signed between Singapore and Qatar serves as an important signal to both Singapore and Qatari investors, encouraging them to step up investments in their countries.

The Ambassador mentioned that Singapore's Keppel Seghers Engineering construction of the Doha North Sewage Treatment Works (DNSTW) in Umm Salal, as well as the Domestic Solid Waste Management Centre (DSWMC) in Mesaieed and the Nakilat-Keppel Offshore & Marine (NKOM), a joint venture between Qatar's Nakilat and Singapore's Keppel Offshore & Marine in RasLaffan as major Singapore projects in Qatar that are doing well. 

Ambassador Sohan further said that among other new projects underway is the Place Vendome hotel-residences-mall in Lusail, being undertaken by Singapore real estate developer SECC Group.

source: Qatar Tribune

Categories: