Qatar’s National Vision 2030 relies upon a robust and trusted legal system, says K&L Gates’ Doha Senior Partner

Significant reforms have been made to Qatar’s foreign investment laws in recent years, which include allowing foreign investors to participate in most sectors of the local economy and increasing foreign ownership limits in listed companies. Last year, the government further expanded the list of locations where foreign investors are permitted to invest in real estate. These changes are important steps in the right direction towards meeting Qatar’s National Vision 2030 of economic growth and social development, said Amjad Hussain, Senior Partner for Doha office at K&L Gates.

In an interview with The Peninsula, Hussain went on to reiterate that at a time when Qatar’s focus is on the upcoming FIFA World Cup 2022, the country’s legal sector has also been working hard, alongside other professional services providers, to help create a world-class legal infrastructure here.

“However, post-World Cup, Qatar’s economy will re-shape to focus on delivering upon Qatar’s National Vision 2030. This vision is ambitious and relies upon a robust globally recognised and trusted legal system. This is the foundation stone for global investor confidence,” he said.

Hussain added: “We see that Qatar will continue to look at ways to further enhance its legal landscape and promote equal and fair access to justice for all. This will require the ongoing growth and development of the domestic legal market with a strong and well-functioning judiciary supported by quality global and local law firms working together collaboratively.

“We see that digitalisation will have a positive impact on the legal sector as it will help reduce some of the bottlenecks that exist, especially in terms of dispute resolution and encouraging FDI in Qatar. The digitalisation transformation will also help create more touchpoints between clients and their legal advisors. Lawyers will be more accessible over different means and service delivery will take new forms as clients begin to get more comfortable with new solutions,” said Hussain.

He added that K&L Gates, which is celebrating its 10th year of successful operations in the Qatari market this year, has witnessed a number of extraordinary changes in the legal sector as well as the wider economy over the past decade. As one of the largest international law firms in Qatar, the Firm has also played a part in the development of the legal market here, added Hussain.

He said: “Qatar’s legal market has seen significant growth over the past decade. The number of local and international firms has increased rapidly and there is now a strong cluster of service providers who can meet the local and international needs of Qatari clients. It is also great to see the maturing of the legal market in Qatar with the development of boutique offerings and an understanding of the different value propositions that exist.

“The Qatari economy has most definitely benefitted from the availability domestically of deep legal knowledge and expertise. Government entities, family offices, financial institutions and corporates have all taken advantage of the presence of some of the world’s leading legal firms and practitioners in Qatar. Our Firm’s vision has been to provide a full-service legal offering to our clients in Qatar so that they can, from their own home country, access the best legal advice for their business needs from across our 45 global offices. We are a single global firm and this is a core part of our strength, and we have developed one of the most seamless global operations of any law firm,” Hussain added.

Speaking further about the high-profile cases handled by the Firm over the past several years, Hussain said: “Over the last decade, we have had the privilege of advising a diverse range of clients in Qatar. These have included government entities, Q-companies (which have government ownership), financial institutions (both conventional and Islamic), listed entities, family conglomerates as well as international investors looking to do business in Qatar. We have advised domestic clients on local, regional and international transactions and disputes and have played a key role in dealing with complex business and regulatory hurdles.

“We are a full-service law firm in all our offices. Qatar is no exception. Here we have advised clients on a vast array of interesting and high-value projects. This has included advising State-related entities on disputes in and outside of Qatar, with leading Partner Matthew Walker heading our Qatar disputes practice with assistance from our “Associate to Watch” Burak Eryigit,” he added.

Hussain noted that K&L Gates also advises on foreign investment by Qatari clients into high-profile projects globally, has written over 35 laws/regulations, prepared suites of template documents that have been rolled out by major State entities, provides advice on complex financing transactions (Islamic and conventional) and deals with cross-border mergers and acquisitions (M&As) and joint ventures.

He said: “We have a hugely talented and longstanding team of legal advisors based full-time in Qatar. This includes a number of partners, counsels, associates and paralegals with more than 60 years of cumulative local legal knowledge. Our team comprises lawyers with experience from more than eight jurisdictions across the world.

“Our journey in Qatar has been truly remarkable, characterised by deep collaboration, consistent growth and unpredicted success for us and our valued clients. We have been fortunate and honoured to have played a key role in some of the landmark transactions in Qatar. We have also been privileged to be appointed as trusted advisors to many of the leading institutions and businesses here in Qatar for over a decade now. We are truly grateful to our clients and friends in Qatar for their ongoing trust and support,” Hussain added.

To date, Qatar’s new investment laws have already resulted in an increased interest from foreign investors, Hussain said.

“We see significant interest from foreign investors to enter the local market as a result of these changes and we work with entrants from all sectors, including technology, transportation, hospitality, defence and retail. K&L Gates is ready to help both local and international clients maximise their commercial pursuits in Qatar and can provide an “around the clock, 24/7” seamless service to enable our clients to execute their commercial objectives. Qatar also stands in the centre of the world discussion around the Net Zero debate as its LNG provides an important transition from heavy polluting hydrocarbons (such as oil) and renewable energy,” he added.

According to Hussain, Qatar’s public private partnership (PPP) market is currently undergoing a transition from PPP projects in power and water into various other areas, including education and transportation PPPs. And the Firm being one of the few legal firms in Qatar with a specialist PPP team, has a crucial role to play.

“We have established a PPP presence on the ground in Qatar to ensure the effective delivery of infrastructure projects with an appropriate allocation of risks between the private sector and the public sector. As evidenced by the promotion of Paweł Piotrowski to Partner and the expansion of the team with the hire of Hena Sial (a specialist PPP lawyer), we are committed to projects, firstly, in Qatar and secondly, at a regional level. We welcome the Qatar Law No. 12/2020, On Regulating the Partnership Between Public and Private Sectors and see our role as offering commercial and specialist legal advice on the basis of our collective local and international experience across various sectors, including transportation and education,” said Hussain.

He added that the Firm has advised on Qatar Schools PPP Package 1, which is continuing to have a direct impact on the delivery of Package 2 and Package 3. The Firm also advises stakeholders other than the government, such as lenders and construction companies.

“This is a testament to our full appreciation of the PPP model and the market. For example, we are currently advising the lenders on Package 2 of the Qatar School PPP Development Programme. We understand not only the model but also the driver behind public sector project delivery: timely and on-budget delivery, in order to achieve the best value for money for the State of Qatar,” he said.

On the growing M&A activity in Qatar, Hussain said: “We have seen a steady increase in M&A activity in Qatar over the last few years and have been involved in several leading transactions. We recently advised Masraf Al Rayan on successfully concluding a merger with Al Khaliji Commercial Bank. The merger is valued at QR8.2bn ($2.2bn) and will create a bank with combined assets of over QR171.5bn ($47bn). This will make Masraf Al Rayan one of the largest Shariah-compliant banks in the Middle East and the second-largest bank in Qatar.

“Our regional Transactions team is led by me and locally includes Senior Associates Jaime Oon and Roberto Lusardi. Roberto also brings valuable TMT sector and data protection expertise to Doha transactions. Jaime leads our employment practice in Qatar. Our deals team also comprises one of the leading banking and finance teams in town. This includes Counsel Simon Chan, who has significant experience of working on all manner of conventional and Islamic banking transactions for local and international lenders and borrowers,” he added.

Hussain also highlighted that the COVID-19 pandemic has accelerated the growth of M&A activity in certain sectors and the Firm has seen an uptick in legal demand based on this.

He added: “There has been a huge level of interest in logistics, warehousing and local supply chain management. This has been spurred by the failure of global just-in-time supplies. We have also seen an increase in the digital and technology sectors. Technological solutions have also cast a greater focus on data protection and cyber security sectors. As global economies re-open we are seeing greater scope for cross border transactions; especially across the region following the lifting of the blockade of Qatar”.

Finally, with the environmental, social, and corporate governance (ESG) agenda increasingly becoming an important issue locally, regionally, and globally, Hussain shed light on how the Firm can help its clients navigate through these complex issues.

He said: “Environmental, social, and corporate governance (ESG) factors affect companies of every size and across all geographies. No longer a secondary consideration, it has become imperative that businesses and their investors take a proactive approach to their role as global citizens, not only out of ethical considerations but also because it is in their financial interests. Companies focusing on ESG are improving their longevity, financial standing, and relationships with internal and external stakeholders, which carries enormous value in today’s market.

“This is driving investors and executives alike to reorient their focus on ESG. In a global environment that increases its emphasis by the day, our integrated ESG approach is designed to help our clients navigate these ever-evolving ESG standards. Our lawyers across the globe have decades of experience in key ESG areas, including asset management, corporate governance, and sustainability, and offer a full range of services that can be tailored to any need or size. ESG is critical in today’s corporate environment across the world. K&L Gates not only helps clients understand but embrace the growing ESG imperative,” he added.

Qatar remains at the forefront of K&L Gates’ priorities, said Hussain. “Qatar has always been a proud jewel in our Firm’s crown. Our global management continues to provide full support and backing for the expansion of our local team. As other firms reduce headcount and exit Qatar, K&L Gates has continued to grow its local practice. Indeed, as a sign of our commitment and confidence, we will be welcoming two new colleagues over the next two months. As we enter our 10th year in Qatar, we look to the future with huge levels of optimism and will continue to ensure we closely align our legal offering to meet the needs of the local economy and our valued clients,” added Hussain.

(Amjad Hussain is the Senior Partner in the Doha office of K&L Gates. He can be contacted at: [email protected])