Recent Legal Reforms will attract more Foreign Direct Investments to Qatar
Extracted from Gulf Times – Article by Peter Alagos
Laws and legal reforms announced by the government aimed at improving the State of Qatar’s investment climate have further bolstered Qatar’s image as an attractive destination for foreign investors.
“These reforms are opening up the Qatari market to various opportunities and are simplifying the business environment of the country for foreign investors,” Italian embassy deputy head of mission Carlotta Colli told Gulf Times on Sunday, during a press conference to announce the ‘Back 2 Business’ networking event, slated on November 6 at the JW Marriott Marquis City Center, Doha.
German Industry and Commerce Office Qatar (AHK) representative Kathrin Lemke also said the reforms announced by the government have created “a more interesting investment climate” and provide “a very good infrastructure” for foreign investors to gain easy access to the Qatari market.
“We also see these reforms as ‘very positive’… this is also one reason why we see this increase in interest among German companies that want to come and expand their businesses in Qatar,” Lemke stressed.
Italian Chamber of Commerce Qatar chairperson Palma Libotte also said the reforms are not only significant to the business community but also to the residents living in Qatar, “especially for the long term.”
“With Qatar’s fast-paced development, every occasion to gain insights on the market from professionals is relevant, and platforms such as the ‘Back 2 Business’ are appreciated for this reason,” Libotte explained. Since its inception 16 years ago, Libotte said ‘Back 2 Business’ remains as Qatar’s largest networking event, connecting high profile members of the international business community.
Colli said, “The Embassy of Italy is pleased to see that ‘Back 2 Business’ networking format has established itself over the years as a well-attended platform for connecting businessmen and help turning business ideas into partnership.
“The reforms adopted by the State of Qatar and the perspective of the World Cup are tapping a great potential for trade and investment in many sectors, including agro-food, tourism and hospitality, waste management, logistics, digitalisation, and cybersecurity. The event offers the occasion to network with local and international partners and explore these opportunities.”
Lemke added: “In the past two years, the Qatari government has undertaken enormous efforts to improve the investment climate and infrastructure for foreign investors, which also German companies can now benefit from and have an easier access to the market. Also, and as part of the national diversification strategy, new sectors are evolving and have presented new business opportunities for international companies.
“With only two and a half years away from the 2022 FIFA World Cup, now is the right time to have a footprint in the country and our office is here to support the German business community with that.”