Qatar Financial Centre Hosts Singapore Delegation

Doha, April 15 (QNA) - The Qatar Financial Centre (QFC), along with a trade delegation from Singapore, discussed strategic business partnerships between Singapore and Qatar, and to share information on how QFCs platform can benefit international businesses, which includes 10 Singaporean companies. During a recent visit to the center by members of the delegation of 10 Singaporean companies, as well as the Singapore Business Federation. Managing Director, Business Development, QFC Authority, HH Sheikha Alanoud bint Hamad Al-Thani, said: "Singapore has long been a strategic economic partner of Qatar with bilateral trade between the two countries amounting to over $3.6 billion USD in 2016. In 2017 Qatar and Singapore signed four MoUs targeting joint investment projects in agriculture, construction, training and consultancy. The meeting is part of QFCs efforts to promote Qatar as a lucrative destination for companies looking to expand their operations to the Middle East and tap into Qatars multibillion dollar infrastructure programme. Over 22 percent of the firms registered under the Qatar Financial Centre in 2016 were from the Asia Pacific region. QFC firms enjoy competitive benefits, such as operating within a legal environment based on English common law, the right to trade in any currency, 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double tax treaty agreement network with 60+ countries. In addition, the Employment Standards Office of the QFC is the first Administrative Employment Dispute Resolution Centre in the MENA region operating under International Labour Organization (ILO) standards. (QNA)