Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani, during the meeting with members of the US-Qatar Business Council, yesterday.
DOHA: Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani, met yesterday with members of the US-Qatar Business Council to review the latest developments in economic, trade and investment ties between the two countries and means of boosting them.
Held in the presence of US-Qatar Business Council Chairman Ambassador Anne Patterson and a number of board chairpersons of major US firms operating in Qatar, the Minister of Economy and Commerce reviewed during the meeting the latest state measures to stimulate and attract investments such as the law on foreign investment regulation, which was recently approved by the Cabinet and would open the way for foreign investors to own 100 percent in all sectors and support the entry of foreign investors to the Qatari market.
The meeting also touched on the positive outcomes of the first stage of Qatar’s economic roadshow, which had started in April in the United States. It also discussed preparations for the second stage of the tour, reported QNA.
The first stage saw the Ministry of Economy and Commerce organise four economic forums between Qatar and the United States in Miami, Washington DC, Charleston and Raleigh. It was organised in cooperation with Qatar Chamber, US Chamber of Commerce, Qatari Businessmen Association, US-Qatar Business Council and a number of official entities in the United States.
The economic roadshow in the four US cities featured economic forums and bilateral meetings between the two countries; bilateral meetings between Qatari businessmen and their US counterparts; exhibitions in conjunction with the economic roadshow initiative; and roundtables in real estate investment, hospitality, tourism, technology, health and medicine, banking, legal practice, public-private partnerships and infrastructure projects.
Qatar and the United States have close economic and trade relations, reflecting positively on the volume of trade exchange between them, which amounted approximately to QR21bn in 2017. At 6 percent, the United States is Qatar’s seventh trade partner. US companies that operate in Qatar and have Qatari partners amounted to 541, while the number of companies with 100 percent US ownership stood at 117.
Moreover, there are 20 US companies operating in the oil and gas industry in the State of Qatar, and more than 50 US firms are licensed under the umbrella of Qatar Financial Center.
