From left: The Assistant Undersecretary for Commerce at the Ministry of Commerce and Idustry, Yahya bin Saeed Al Nuaimi; President of Qatari Businessmen Association, Sheikh Faisal bin Qassim Al Thani; French Ambassador to Qatar, Franck Gellet; Chairman of
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.
The Forum, featured a number of presentations, meetings and round tables. The first day of the forum opened with a presentation to familiarize the French delegation with Qatar’s economy and business climate. The presentation included a public briefing and three panel discussions focusing on the agriculture, food industries, logistics, IT, health and pharmaceutical sectors. Representatives from QFC and the Supreme Committee for Delivery & Legacy also met with members of the French delegation.
Guillaume Pepy, Chairman of the France-Qatar Business Council, Medef International and Chairman of SNCF Executive Board has said ‘Station F’, the biggest European incubator in Paris, is looking for cooperation with Qatar Financial Centre and some other Qatari financial institutions. “Station F” is the biggest startup campus in the world, which accommodates over 1,000 digital companies.
Speaking to the media on the sidelines of Qatar-France Business and Investment Forum, here yesterday Pepy said: “No less than €2.6bn have been invested in France to have startups which much more than any European countries. We would like to share this experience with Qatari friends.” He said that digital transformation and digital business have a value for all different sectors of Qatari and French economy. There are other areas of interests like retail, banking. He said the digital space is fast changing the way doing businesses and Qatar is fast becoming part of it.
Regarding future partnerships to boost the startups between two countries, Pepy said “We are working on the ground to find the best way to help the startups which is common concerns here in Qatar and station F in France.” On Qatar Rail project, Pepy said: “We have been chosen after very long tender process to operate and maintain Doha Metro and Lusail light rail system. We are the operator and service provider of the network.”
