DOHA: HE Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce, has called on the Italian business community and investors to contribute to realise Qatar’s ambitious 2030 national vision and take advantage of the opportunities.
Sheikh Ahmed bin Jassim, who was in Italy to attend a Qatari cultural festival being held at Qatar’s pavilion in Milano EXPO 2015, was addressing a gathering of top businessmen, investors and heads of major companies in Italy.
In his speech, the Minister highlighted the encouraging investment environment in Qatar and stressed the solid bilateral relationship between Qatar and Italy. He called for taking advantage of these relations to boost economic cooperation and increase trade exchange and strengthen cooperation in important vital sectors.
Qatar pursues bold and ambitious strategy to fully achieve its national vision after 15 years from now. The Italian businessmen are invited to contribute to realising this strategy and benefit from the advantages offered by Qatar.
The Minister noted Qatar is one the fastest growing countries in the world, thanks to the investment policy which boosted the national economy . The country provides a competitive business environment supported by a legal and legislative framework that guarantees suitable climate for companies to expand their business in the state. Qatar’s focus on the non-oil sectors is aimed at its calibrated policy to ensure a sustainable economy for the country. The economic policies are focused on the promotion of foreign investment, the development of business environment, and the creation of a distinct investment climate.
Regarding Qatar’s growth story, the minister said Qatar achieved significant growth in foreign trade between 2010 and 2014, despite the decline in oil prices. The Fitch’s decision to raise Qatar’s credit ratings to “AA” reflects its strong position and its ability to meet the challenges arising from fluctuations in global energy markets.
The Minister hailed the strong economic relations between Qatar and Italy. The trade volume between the two countries amounted to $3.5bn in 2014, and Qatar’s exports to Italy reached $ 2bn, of which natural gas exports represent 90 per percent. Imports from Italy to Qatar stood at $1.5bn in 2014.
Sheikh Ahmed bin Jassim said Qatar and Italy have signed a bilateral investment agreement and another one to prevent double taxation. They also set up a joint economic committee which will meet in Doha before the end of this year. The Minister stated that a total of 15 fully owned Italian companies are operating in Qatar. This is in addition to 58 joint venture companies Italian and Qatari businessmen.
The Peninsula
