QBA Organizes Qatar-Malta Business Seminar

Doha, March 01 (QNA) - The Qatari Businessmen Association (QBA) organized here on Wednesday 'Qatar-Malta Business' Seminar in cooperation with the Chamber of Commerce of the Republic of Malta. The event discussed prospects of joint cooperation and mechanisms for enhancing communication between businessmen of both countries in order to enter into new partnerships aimed at promoting economic diversification in Qatar and Malta. HE Chairman of QBA Sheikh Faisal bin Qassim Al-Thani said during the opening of the Seminar, the State of Qatar has witnessed great development in all fields, especially infrastructure sector in line with Qatar National Vision (QNV) 2030 to achieve human, social and economic development while seeking to diversify the economic base. The meeting comes in the context of raising the bilateral relations to a higher level of cooperation, so as to open communication channels with businessmen in Malta and identifying investment opportunities on the ground to serve the interests of both countries, HE Sheikh Faisal explained. He expressed hope that the meeting would be fruitful and promote joint economic and trade relations, by opening up new areas which would be positively reflected on the two countries' economy. For his part, CEO of Qatar Financial Centre (QFC) Yousuf Mohamed Al Jaida made a presentation on QFC's role to facilitate the entry of foreign companies to the state and their contribution to promote the diversification of the Qatari economy. In this regard, he stressed Qatar's keenness to reach positive solutions and create successful partnerships with leading companies as well as to facilitate the entry of foreign investors to Doha thanks to its viable economic components which placed Qatar at the first rank of attractive countries for foreign investment. Qatar's strategy to diversify its economy stems from Qatar National Vision 2030 and its four main pillars, Human Development; Social Development; Economic Development and Environmental Development, Al Jaida said, noting that while most of countries were affected by the low price of oil, Qatar was among the countries that wisely managed this crisis as it saw large positive contributions of the non-hydrocarbon sector in the economy, with expectations for a higher contribution in the future. Qatar is implementing several infrastructure projects in the framework of the ongoing preparations to host the FIFA World Cup 2022, which would pave the way for foreign investors to engage in various huge investment opportunities, he went on saying. QFC is among the most active institutions in the field of attracting foreign investment in Qatar, Al Jaida concluded, noting its commitment to economic diversification and development. QFC offers a variety of incentives that attract investors, such as the accelerating economy, Qatar's strategic geographic location in the region, regulatory and legal environment along with an encouraging transparent tax system. For his part, CEO of Malta Trade Authority Anton Buttigieg stressed his country's keenness to strengthen partnership between Maltese and Qatari businessmen. The Authority has developed a strategic action plan aimed at developing foreign investment in Malta and promoting a successful and inspiring business environment that aims to promote jobs creation and boost the advancement of scientific research and technological development. The Authority plays an important and vital role in supporting the diversification of Malta's exports and enhancing its international reputation as a host of major international companies, he said, adding that the visiting Maltese businessmen seek to explore partnership and investment opportunities in various sectors like training, education, business consulting and professional services, advanced manufacturing industries, food industries and information and communication technology. For her part, CEO of Malta Enterprise Marika Tona made a presentation on the role being played by the Enterprise as an economic development agency in Malta in attracting new foreign direct investment as well as facilitating growth of existing operations. (QNA)