By Mohammad Shoeb
DOHA: Local private companies and big family-owned businesses are planning to make huge investments in various sectors of the US economy, said the Chairman of Qatari Businessmen’s Association (QBA).
“The investments by Qatar’s private sector in the US are growing bigger and bigger by every day. And now more Qatari companies and individuals are looking forward to invest in the world’s largest economy,” Sheikh Faisal bin Qassim Al Thani told reporters on the sidelines of an event organised by the QBA in collaboration with AmCham Qatar on the occasion of ‘Discovering America Week 2016’.
Sheikh Faisal, who is also the Chairman of Aamal Company, added: “I have personally bought five luxury hotels in the US, and have established partnerships with several American businessmen. Together we are exploring more opportunities of investments, especially in the US tourism sector.”
He said that Qatar’s private sector companies have become competent and qualified enough to compete with their international rivals in overseas markets, including the US which have a lot of opportunities for investment.
In his welcome address, the QBA Chairman invited American companies to join hands with local businesses to enhance investments in Qatar as well as in the US.
The US Ambassador to Qatar, Dana Shell Smith, attended the event. Also present were Robert A Hager, Chairman, AmCham Qatar; Alberto Verme, Chairman, Institutional Client Group, Citi; Reyan El Zein from FCS; Steve Miller, Regional Director at the US Department of Commerce; Mohammed Althaf, Executive Director, Lulu Group among many other distinguished guests.
Robert of Am Cham Qatar also highlighted the investment opportunities in the US economy. “Now is the great time to invest in the US, at a time when there is so much turmoil in the world, including in the big economic regions like the Eurozone, China and other markets,” added Robert. “The US is very resilient to such turmoil in terms of growth, and offering variety of investment opportunities in a wide rage of promising sectors such as technology, energy, real estate, hospitality and in many other businesses that Qatar know well.”
He noted that the diversified investments from the Qatari side is very encouraging. He said that the Qatar government is paving the way which is closely followed by the private sector.
“Some of the recent investments by Qatari companies in the US include the City Centre project in Washington DC. It is being heralded by everyone in Washington as a great revitalisation project in the area of the city that needed help,” said Robert.
The City Centre is a mix-used commercial property located in the inner-city neighbourhood, which spread over 10 acres of land. Qatari Diar, a Doha-based a real estate investment company, has invested over $650m. The facility is consisting of 674 residential units, a 370-room Conard Hilton Hotel and scores of luxury retail brands and restaurants.
The combined value of Qatar-US bilateral trade in goods in 2015 stood at $5.54bn.
And currently there are over 130 American companies working in different sectors of the Qatari economy, including several giants from oil and gas, construction, aviation, education and other sectors such as ExxonMobil, AECOM, Boeing, Lockheed Martin and others.
The Peninsula
