The Undersecretary of the Ministry of Trade and Industry HE Sultan bin Rashid Al Khater with the US Trade Mission delegation in the presence of the Senior Trade Officer at the US Embassy in Qatar and the Head of Mission acting deputy Megan Schildgen.
Doha: The Under Secretary of the Ministry of Trade and Industry, HE Sultan bin Rashid Al Khater, met with a delegation from the US Trade Mission currently visiting Qatar, in the presence of Megan Schildgen, Senior Trade Officer at the United States Embassy in Qatar and Acting Deputy Chief of Mission.
The delegation included representatives from 10 major American companies, specializing in various sectors, namely oil and gas, energy, information technology, health technologies, education, security services, engineering and consulting services.
Trade, industrial and investment relations between the two countries were discussed, as well as ways to develop them in light of the close ties between the two nations.
During the meeting, the Undersecretary of the Ministry of Trade and Industry said that Qatar was seeking to accelerate initiatives and projects aimed at strengthening its economic openness and supporting its position as an ideal destination for business and investments. Qatar’s progress in this regard includes the introduction of new legislation that stimulates foreign investors and the private sector, such as the law regulating the investment of non-Qatari capital in economic activity and the law on free zones in investment, both of which allow foreign investors up to 100 percent.
In addition, Qatar has allowed non-Qatari individuals and companies to own real estate in several vital economic and tourist areas of the country, he further pointed out, adding that the state had passed a law regulating public partnership. -private, with the aim of increasing the contribution of private sector companies in the construction, financing, operation and management of state development projects. The Undersecretary of the Ministry of Commerce and Industry called on US companies to capitalize on these legislations and encouraged them to expand their investments in the Qatari market.
The meeting also featured a presentation from the Qatar Investment Promotion Agency (IPA Qatar) which showcased the promising investment opportunities available to US companies, introduced potential investors to Qatar’s business platforms and highlighted the advantages and incentives of the local business environment for American investors wishing to establish their business in Qatar.
Qatar and the United States maintain close economic and trade relations which have had a positive impact on the volume of trade between the two countries, which reached approximately $5.4 billion in 2021.