Maltese Economy Minister Meets Qatari Businessmen

Doha, March 20 (QNA) - Malta's Minister of Economy, investment and small Business Dr. Christian Cardona and a delegation of Maltese businessmen met here today with representatives of the Qatari private sector to discuss means of encouraging businessmen from both sides to explore investment opportunities and increase trade exchanges between the two countries. In remarks he gave on the occasion, Dr. Cardona reviewed the economic climate in his country, referring to its openness and flexibility that rendered it an attractive economy to foreign investments. He called on Qatari investors and businessmen to benefit from the significant position of Malta in the heart of the Mediterranean Sea and from the country's membership of the European Union saying the tourist and economic development in the country constituted a basic factor for attracting global investments and an ideal tourist attraction. For his part, Deputy Chairman of Qatar Chamber of Commerce and Industry Mohamed bin Twar Al Kuwari welcomed the Maltese delegation, asserting that Qatari businessmen were keen to explore investment opportunities in Malta, adding that the private sector in the two countries should help in enhancing trade relations which are gaining the support of the leaderships in the two friendly countries. In a speech he gave at the meeting, Al Kuwari said Qatar is seeing great development in all fields including the re-building of the infrastructure which will benefit the Qatari people, adding that the country has adopted new policies, laws and strategies that would help investors to establish companies in Qatar. He referred to the stable investment climate in the State of Qatar which made Qatar attract a successful global investment, thanks to the big facilities provided for foreign companies to encourage them enter the Qatari market calling for benefiting from such privileges. Al Kuwari referred to a statement by Qatar Central Bank Governor HE Sheikh Abdullah bin Saud al Thani in which he said Qatar will sign contracts worth USD 50 billion for projects in the areas of transportation, energy and infrastructure this year. Addressing the Qatar Projects Conference on Tuesday, he said the awarding of these contracts reflects the strength and rapid growth of Qatar's economy, and the development vision as outlined in Qatar's National Vision 2030. QCCI Deputy Chairman said priorities of the State of Qatar have changed over the past few years, explaining that the country is focusing on the expansion of areas other than the oil and gas sectors including the launch of big projects to achieve Qatar National Vision 2030, in addition to the infrastructural projects related to the country's hosting of the World Cup 2022. He explained that those projects include the expansion of the road network including the building of Luwsail, Doha and Dukhan highways with a total cost of USD 20 billion, in addition to the USD 6.86 billion new Doha Port, south of Wakra and near Messaieed as well as the expansion of three football playing grounds and the building of 9 new others with environment friendly specifications. The new projects which includes playing grounds, railways, flyovers, intersections, water and electricity, hotels and urban development, will provide big opportunities for construction and engineering companies that have world class experience. The meeting also featured detailed presentations by Maltese companies on many investment opportunities related to infrastructural and logistic projects as well as discussions on the different means of cooperation's and prospects of mutual cooperation with Qatar with regard to such projects. It also covered aspects of cooperation in economic, tourism and other projects that would help enhance economic development in the two countries particularly in the fields of communications, financial services, construction, engineering services, prefabricated buildings, engineering design and consulting.(QNA)