Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani has said that Qatar is currently preparing to issue a law on partnership between the private and public sectors which aims to contribute to facilitating setting up new projects in the health, education and other sectors.
Speaking at the Qatari-Singaporean Business Forum organised yesterday by the Ministry of Economy and Commerce, in coordination with Singapore Ministry of Trade and Industry and in line with the visit of Emir H H Sheikh Tamim bin Hamad Al Thani to the Republic of Singapore, the minister further pointed out that non-Qatari investors can invest up to 100% in several sectors. The Minister pointed out that foreign capital invested is exempted from income tax for a period not exceeding ten years from the date of project invested start-up and in certain projects.
In this context, the Minister stressed the State’s keenness not to impose taxes on the import of large machinery and spare parts and raw materials, and not to impose restrictions on capital and transfer of profits abroad, in addition to allowing the transfer of ownership of the company free of charge.
The Minister said that currently work is underway to develop Sport Business Park which will be dedicated to sports companies that will contribute to organising the 2022 FIFA World Cup.
Meanwhile, addressing the Qatari-Sigaporean Business Forum, Chairman Qatar Chamber Sheikh Khalifa bin Jassim Al Thani said that Qatar is receiving all commodities and imports directly without the need to pass across siege countries through which 80 percent of Qatari imports were passing into Qatari market.
