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Qatar to open up more sectors for 100% foreign ownership

Qatar to open up more sectors for 100% foreign ownership

Qatar is set to further expand its investment ecosystem allowing foreign investors for 100 percent ownership in more sectors.

Opening Qatar-France Business and Investment Forum here yesterday, Yahya bin Saeed Al Nuaimi, Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce and Industry said the country is working towards the issuance of a new investment law that would represent an important step in the journey to attract foreign investors.

The Forum which was organized by the French Embassy in Doha, in partnership with the Ministry of Commerce and Industry, the Qatar Businessmen Association and Qatar Financial Centre (QFC), kicked off yesterday.

Yahya bin Saeed Al Nuaimi and Franck Gellet, France’s Ambassador to Qatar, jointly inaugurated the forum, which brought together a large number of Qatari and French businessmen.

The forum aims at enhancing economic, trade and investment cooperation between Qatar and France and building communication channels between representatives of the Qatari and French private sectors to establish joint investment projects that serve the interests of both countries.

In his opening speech, Al Nuaimi highlighted the strength of Qatari-French relations, noting that this forum marks a new milestone in the promotion of bilateral ties that gained momentum in recent years particularly on the trade and investment levels. He noted that French companies operating in Qatar play an important role in supporting the national economy by contributing to the development of numerous projects. Today, 294 companies, including 228 firms jointly owned by Qatari and French citizens, and 66 companies fully owned by French citizens, are currently operating in Qatar.

He noted that France represents an attractive destination for Qatari investments, reflecting Qatar’s keenness to channel part of its revenues into investments in the economies of its strategic partners, which offer promising investment opportunities.

He said the government has succeeded in maintaining balanced growth thanks to the integrated policies adopted by Qatar’s wise leadership, which have stimulated various sectors. Qatar has sought to bolster the export capabilities of manufacturing companies and to strengthen their relations with key trading partners around the world.