The forum is part of an ongoing economic roadshow in different parts of the US, aimed at promoting and expanding trade and economic relations between the two nations.
Citing the City Center DC project in Washington, Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani told the forum that the project was the first Qatari investment in the US real estate sector. “The Qatar Investment Authority is interested in increasing Qatari investments in the years ahead. Further, there are many private investments for Qatari investors here. There are many Qatari investments in hospitality in Miami,” Sheikh Khalifa said in his speech.
“With regard to mutual investments, Qatari investments in the US are worth billions of dollars, deployed in technology, media, entertainment, energy, and real estate, among others,” Sheikh Khalifa continued in his speech, a copy of which was sent to Gulf Times yesterday.
In 2015, QIA had pledged to invest $35bn in sectors such as energy, technology, and real estate over five years, as well as an additional $10bn for infrastructure projects in the US, according to HE the Finance Minister Ali Sherif al-Emadi.
“Beyond any doubt, Qatar-US relations have seen great development in all co-operation aspects. Both the nations strove to foster economic ties and remove all obstacles for establishing mutual and joint investments. They are very keen to provide more incentives and concessions to attract investors and strengthen business relations for the advantage of both the countries’ economies,” Sheikh Khalifa pointed out.
According to the Qatar Chamber chairman, more than 400 American companies are operating in Qatar, 112 of which are American-owned, while 290 companies are with Qatari partners. The total capital of these companies is worth about $2.5bn, he noted.
“Qatar and the US private sector have devoted substantial resources to further support the ongoing robust economic relations. The US is one of Qatar’s largest trade partners with a trade volume of $6bn last year. Qatar’s imports from the US include vehicles, electrical appliances, steel and iron, while Qatar’s exports include petroleum oils and fertilisers,” he said.
Despite the ongoing economic blockade imposed on Qatar since June 2017, Sheikh Khalifa invited US companies to enter the Qatari market, citing laws allowing full ownership for foreign investors in specific sectors, including income tax exemptions and customs exemption for importing raw material and equipment.
Other policies also helped increase competitiveness of the national economy and in attracting more investments to Qatar, he stressed. Sheikh Khalifa said 15,000 companies were established after the siege, 5,000 of which are branches of existing companies.
“The ongoing siege imposed on Qatar since last year has significantly motivated the private sector to enhance its contribution in productive projects in numerous economic sectors, which helped to reduce reliance on imports.
“In the wake of the siege, the government has adopted a multitude of policies and procedures. It has sought to issue new laws and introduce key amendments to several existing legislation in order to attract and promote local and foreign investments,” he said.
