Author

Qatar Development Bank (QDB) announced the winners of the ‘Entrepreneurship World Cup’ national qualifiers competition, which concluded Tuesday at the 3-2-1 Qatar Olympic & Sports Museum in the presence of the most prominent names from the local entrepreneurial ecosystem. The three winning startups, Sponix Tech, Fatora.io, and Droobi, were presented with prize money of $100,000 during the event, which marks the first time the national qualifiers were held in Qatar under the organisation of QDB. This is the fourth Entrepreneurship World Cup since it was launched in 2019 as the largest entrepreneurship competition of its kind that celebrates prominent entrepreneurial ideas and innovative projects from various fields. The upcoming finals will feature participants from more than 200 countries and the attendance of the most distinguished startups from across the globe. QDB is the national organiser of the competition, in partnership with the Ministry of Commerce and Industry and the Qatar Financial Centre Regulatory Authority, and sponsored by QNB, Doha University of Science and Technology, and the Ministry of Sports and Youth. The brightest Qatari startups competed for the opportunity to qualify and represent the State of Qatar in the finals of the global competition, which will be held in the Kingdom of Saudi Arabia. Abdulrahman Hesham al-Sowaidi, acting CEO of QDB, opened the event with a speech, in which he pointed out the importance of these national competitions that help support and motivate startups to rise to the highest levels of competitiveness and professionalism. In his speech, Global Entrepreneurship Network founder and president Jonathan Ortmans thanked QDB for organising the event, emphasising his admiration for the emerging projects that took part in the competition with the aim of reaching the final rounds of the competition. Twelve participating companies presented their business ideas before a panel of judges and the audience. The pitches reflected pioneering and innovative ideas that are worth representing Qatar in various fields on a global stage, such as VR and AR technologies, sustainability, and solutions in the fields of SportTech, fintech, smart payment, and HealthTech. At the end of the presentations and judges’ deliberations, QDB recognised the participating partners, sponsors, and judges in appreciation of their outstanding efforts toward making this competition a success. Al-Sowaidi said, “We extend our congratulations to the three winners and wish them a successful journey in the global stages of the competition. We are confident in our entrepreneurs and their ambitious capabilities. “This competition achieved a great turnout in its first edition in our country, a testament to the strength of the national entrepreneurial ecosystem, which we always seek to strengthen through many initiatives and programmes in line with our strategy and our country’s national vision. Hence the importance of competitions, such as the Entrepreneurship World Cup lies in its capability to motivate aspiring entrepreneurs to come up with innovative solutions.” Heba Ali al-Tamimi, general manager Group Communications at QNB, said: “We would like to seize this opportunity to congratulate the winning teams for their success and contribution to the national development. “As the strategic partner of these National Qualifiers, we are proud to witness the qualification of these start-ups as a testament to the advancement of the entrepreneurship ecosystem in Qatar.” The winning startups from Qatar, along with the rest of the winning ventures from across the globe, will attend an intensive virtual boot camp early next year. By the end of the boot camp, the top 100 startups will move on to the global finals, which will be held in Saudi Arabia in March 2023.

South Africa has granted Qatar Airways’ request to add more frequencies, which will play a key role in Qatar’s hosting of the 2022 FIFA World Cup from November 20 to December 18. This was announced on Sunday by South African Minister of Transport Fikile Mbalula during a meeting with HE the Minister of Transport Jassim Seif Ahmed al-Sulaiti. Both officials discussed Qatar-South Africa co-operation in transportation, civil aviation, and ports, among other topics. During the meeting, Mbalula said both countries have worked together over the last few years to strengthen the footprint of Qatar Airways in the southern Africa region. This led to “progressively increased frequencies” resulting in 28 passenger flights per week and 10 flights for all cargo per week, which, according to Mbalula, “bears testimony to the strong co-operation between our two countries.” “In preparation for the 2022 FIFA World Cup and further increasing the footprint of Qatar Airways, we have received a request to increase these frequencies. I am pleased to inform you, Your Excellency, that we have taken the view to support Qatar Airways’ optimised schedule for the FIFA World Cup and grant the required frequencies to enable you to host a successful World Cup. “However, the implementation of this optimised schedule should be undertaken in a manner that supports our local airlines and contributes to the growth of the industry in the region. The long-term arrangements post the FIFA World Cup in relation to these frequencies are being considered through our internal processes. This process will be finalised through engagements with our respective officials. This request has been on the table since 2016 and I, therefore, commit that this process will be concluded by the end of October 2022,” Mbalula informed his Qatari counterpart. Mbalula also underscored the importance of forging Qatar-South Africa partnerships to spur faster recovery of the transport sector, especially in the field of aviation, which took a huge toll at the height of the Covid-19 pandemic. “Recovery of [the transport] sector, particularly aviation, requires new partnerships that not only enable faster recovery, but also give expression to the new economy premised on creating opportunities for investment, employment, and skills development. “Investments in transport infrastructure in road, rail, aviation, and maritime sectors represent the best opportunity to leapfrog the economic slump we are all struggling to recover from,” Mbalula further explained to al-Sulaiti. Mbalula also said his country “is indeed open for business,” emphasising that South Africa sees Qatar as a strategic partner in economic growth and jobs creation, “but will unlock critical investments that will give practical expression to economic recovery.” “Our economic recovery plans place emphasis on massive investments in rail, road, maritime, and aviation infrastructure. We see aviation as a catalyst that will unlock the potential of the sector as an enabler of economic activity. “The development and growth of South Africa’s aviation sector are anchored on our integrated development that will be delivered through investment in the concept of aerotropolis in our major economic hubs, amongst others. This requires seamless integration of airport infrastructure as a foundation for economic activity delivered through special economic zones and other forms of economic activity,” Mbalula stressed.

Officials of Qatar Chamber and Saudi Arabia’s Asharqia Chamber participated in the Qatar-Saudi Business Meeting held in Doha Sunday in the presence of key dignitaries from both sides. The meeting, hosted by Qatar Chamber, was co-chaired by first vice chairman Mohamed bin Towar al-Kuwari and Asharqia Chamber chairman Badr bin Suleiman al-Raziza. The participants discussed ways to enhance co-operation between Qatari and Saudi businessmen in the fields of trade and investments, as well as the investment opportunities available on both sides. They also discussed the possibility of building alliances and partnerships between companies in Qatar and their counterparts in Saudi Arabia to achieve economic and commercial integration. Addressing the meeting, al-Kuwari stressed the interest of Qatar Chamber to boost co-operation and open new partnership channels between both countries’ companies. He said the meeting would contribute to achieving further development in the two countries economic and commercial relations. Al-Kuwari said Qatar and Saudi Arabia share “close and historic relations,” which are reflected in their economic ties, especially with the common desire of the private sector in both countries to bolster co-operation and forge alliances and partnerships. He noted that Qatar-Saudi bilateral trade exchange “began to gradually return to its previous levels,” which amounted to “QR674mn” in 2021, which, according to al-Kuwari, “is still below expectations compared with pre-2017 levels.” Al-Kuwari underscored the close relations between the Qatar and Asharqia chambers and both organisations’ drive to cement relations and encourage companies from Qatar and Saudi’s Eastern Province to develop cooperation links and establish joint investments and partnerships. This also affirms that the Eastern Province represents special importance to the Qatari private sector due to its geographical position and the presence of all incentives and facilitations to develop trade exchange between both sides. Al-Kuwari underscored the importance of co-ordination between both chambers in expanding private sector co-operation, activating trade, and forging new investment opportunities. He called on Saudi businessmen to expand their investments in Qatar and benefit from incentives being offered by the government. Al-Kuwari urged Qatari businessmen to explore opportunities available in the Eastern Province and co-operate with their Saudi counterparts in joint ventures that would expand the private sector’s contribution to achieving both counties’ 2030 national vision. Al-Raziza said Qatar and Saudi Arabia enjoy extended relations and a unified vision to achieve an “inclusive renaissance” for the interest of their people. He lauded the role of the Qatar-Saudi Co-ordination Council in strengthening bilateral relations and expanding partnerships between both countries in line with the 2030 national vision, which supports joint-Gulf co-operation and creates new opportunities between the two brotherly peoples. He said Saudi Arabia is looking forward to broader partnerships between the business sectors in the two countries, especially in light of the favourable conditions that are supported by the aspirations of both nations’ leaderships and the fast-growing markets and sectors in Qatar and Saudi Arabia. Al-Raziza stressed that this contributes to creating new vistas of co-operation and partnerships, achieving economic integration, and increasing the trade exchange in the private sector. During the meeting, the Qatar Investment Authority delivered a presentation on investment opportunities available in Qatar. The Saudi delegation reviewed a number of investment elements in the Eastern Province, such as land and air border crossings in the region, which contains 1,845 factories or 22% of the total factories in Saudi Arabia. The most important industries in the province include chemical industries, textiles, paper, foodstuffs, non-metallic industries, oil, gas, coal, and minerals, among others.

The US Chamber of Commerce recently met with key players and stakeholders in the country, including Doha-based American companies, to discuss ways to further develop Qatar’s digital economy sector. Liz Clark, senior manager, Middle East Affairs, said the US Chamber’s meetings were led by senior vice president for Middle East and International Development Khush Choksy, who held discussions with the Ministry of Communications and Information Technology (MCIT). Other meetings were also held with HE the Minister of Finance Ali bin Ahmed al-Kuwari and HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani, as well as with the Qatar Free Zones Authority (QFZA), Qatar Investment Authority (QIA), and Qatar Financial Centre (QFC), among others. Clark underscored the chamber’s robust relationship with the MCIT, citing the formal launching of the US Chamber’s ICT Regulatory and Policy Landscape of Qatar white paper, which was held in June this year. The white paper was created by the US-Qatar Digital Economy Working Group to outline Qatar’s digital economy ecosystem and provide analysis and recommendations for key areas, such as cloud services, data privacy, cybersecurity, and digital transformation. Clark said the white paper aims to identify gaps and areas that may offer opportunities to improve Qatar’s digital economy sector and transform the country into a “more attractive destination for outside events.” “But one of the white paper’s main findings was that there is such a robust digital infrastructure in Qatar. And considering the amount of data being collected in relation to the World Cup, what do you do with that data and how can we capitalise on everything that’s happening with the World Cup?” Clark told Gulf Times in an exclusive interview. She said, “During our roundtable discussion with many of the major digital economy players in Qatar and the main US companies based here, the focus of the session was about ‘What comes next?’ ‘What do we do after the World Cup?’ There’s all this infrastructure that’s being put into place to accommodate such a major event.” Clark stressed that there are plenty of opportunities to capitalise on the data collected, utilising it to improve future events inside and outside Qatar, as well as other future World Cups. The roundtable also identified ways to improve the sector and what companies need to attract more investments in this sector. “We’ve seen that the digital economy sector is one of the main areas that companies are excited about. Besides oil and gas, it’s one of the fastest growing and thriving sectors in Qatar, so we see a lot of US companies wanting to enter the local market. “Microsoft is the chair of our Digital Economy Working Group. They were one of the driving forces behind the white paper, and they’re such a huge player in Qatar and the opening of their data centre is added value for the country, especially with the World Cup coming up. Looking beyond, Microsoft will be able to offer a lot to US companies and encourage them to come here and use this as a launch point for operations throughout the region,” Clark emphasised.

Acting as a catalyst to transform Qatar’s financial services industry to become globally competitive, Qatar FinTech Hub (QFTH) aspires to become a globally-recognised hub that connects likeminded hubs, organisations, and regulators worldwide, an official of Qatar Development Bank (QDB) has said. QFTH will continue to be the flagbearer of the fintech agenda in Qatar, focusing on empowering the country’s fintech ecosystem by connecting relevant stakeholders. It is well on its path to becoming a globally-recognised and leading hub for fintechs, Hilal al-Kuwari, incubation specialist, QDB, told Gulf Times in an exclusive interview. Al-Kuwari said one of QFTH’s key objectives is to transform Qatar into an advanced society capable of achieving sustainable development, “which is perfectly aligned with the Qatar National Vision 2030.” “By nurturing local talent and sourcing the best international fintechs to Qatar, we are creating a pool of companies that is contributing towards the economic, social, and human development in the region. We have companies that are even disrupting the local market with cutting-edge technology and solutions, such as cashless payments, artificial intelligence, NextGen banking, and digital identity, among others. “We have carefully identified the gaps in the Qatari market and strategically positioned each of our waves to focus on a specific challenge that needs to be solved to support the country’s development. Our Wave 1 was focused on payments, Wave 2 on emerging technologies, Wave 3 on embedded finance and techfin, and Wave 4 on Next Generation banking. Throughout each wave, we strive to attract fintechs that offer services that are not yet available in Qatar,” al-Kuwari explained. In its fourth wave, al-Kuwari said QFTH’s prestigious incubation programme is attended by five early-stage fintechs, including Yougo Payway from Qatar, FinMind and Nervegram from the US, FUNDSAIQ from the UK, and Pewarisan.com from Malaysia. On the other hand, eight mature fintechs, including ADGS and UrbanPoint from Qatar, Cadorim from Belgium, Bankograph from Singapore, Authenteq from Germany, Mihuru from India, Paycruiser from the US, in addition to Qatar-based Anchor FinTech and Zwipe from Norway, are participating in the accelerator programme, he also said. According to al-Kuwari, QFTH has achieved many milestones, having supported graduating fintechs to reach great heights since its launch. Doha-based fintech startup Karty, the winner of QFTH Hackathon, has signed a memorandum of understanding (MoU) with Doha Bank in a strategic partnership aimed at promoting, improving, and elevating financial literacy and innovation in Qatar. This marked the beginning of a collaboration between Doha Bank and Karty under the startup’s Financial Literacy Campaign as part of the fintech fast-track programme in the Central and Eastern Europe, Middle East, and Africa (CEMEA) region, in partnership with Visa. Karty, also an awardee of the Innovation Coupon (IC), a funding programme under Qatar Foundation Research, Development and Innovation (QFRDI), has fast-tracked its growth in the Qatari market since its launch in 2021, said al-Kuwari. With the support of major public and private sector players in Qatar, including the Qatar Financial Centre (QFC), Qatar Science and Technology Park (QSTP), and the Digital Incubation Centre (DIC), the startup is now extending its fintech expertise to the wider community, he said. Al-Kuwari said, “Qatar Islamic Bank is the first bank in Qatar to launch a conversational virtual assistant using AI and machine learning algorithms as part of QIB’s ongoing efforts to provide digital solutions to empower its customers and meet their ever-changing banking needs. “This was powered by Active.Ai’s, a startup from Singapore and a graduate of QFTH’s Wave 2 accelerator programme. Active.Ai is a conversational AI platform that enables institutions to communicate digitally with their consumers, understand their intent, be contextually aware, handle a variety of instructions in multiple languages, and even handle acronyms or slang in a delightful manner.” He also said, “This is in addition to TESS Payments, which has been playing an active role in the market to provide merchants with a one-stop solution to use multiple payment options, and Twayla, which has been a leading payment service provider with a number of merchants as part of their ongoing business.”    

Ezdan Real Estate Company announced on Monday the launch of the multi-purpose Al Janoub Gardens, touted as one of Ezdan’s “most important projects” to rise in the Al Wukair area this year. Hani Dabash, deputy Group CEO, told a press conference that the project boasts of residential and commercial units comprising 2,368 fully-furnished apartments of various sizes and 240 retail outlets available by the end of 2022. He said Al Janoub Gardens features many spacious parking spaces for residents and visitors or more than 4,400 external parking lots and basement floors, as well as mosques, kids play areas, and 10 swimming pools spread across the project. Dabash said Al Janoub Gardens is divided into two phases, spanning over 300,000sq m. Construction operations have exceeded 75% and the project will be offered for leasing during the last quarter of this year, he said. “The project is rendered as a wonderful urban leap for the surrounding area of Al Wukair as it provides a vein linking residential and commercial units and an integrated package of services, which would add a distinguished, high-quality real estate product to the market at competitive prices. “It aims to meet the rising demand in the realty market for residential units, which comes in alignment with Qatar’s hosting for many events, conferences, and international championships,” Dabash stressed. He said the most important feature of the project is its provision of a fully-serviced property, granting residents a feel of living a modern life with luxury and harmony surrounded by nature-like green lawns, sports pitches, outdoor and indoor gyms, swimming pools, and children’s play areas. “Such outstanding project highlights Ezdan Real Estate Company’s long expertise in the real estate sector to serve its vast audience of institutions and individuals seeking to obtain a quiet and comfortable residence, granting prosperity and happiness for all family members,” Dabash said. Al Janoub Gardens is located in a vital area along Al Wakra Expressway and Al Wukair main road opposite Al Janoub World Cup Stadium and is a few minutes away from Al Thumama Stadium, Al Wakra Hospital, and Ezdan Malls in Al Wakra and Al Wukair, Dabash explained. He noted that the surrounding area is witnessing a boom in business from massive road and infrastructure development projects that were implemented in parallel with the metro and road projects that opened to traffic, serving these regions and linking them to the rest of the country. “We consider Al Janoub Gardens a master stroke in 2022, adding a milestone achievement record to Ezdan Real Estate Company, which abounds in accomplishments and initiates a new stage in the company’s journey with the announcement of its plans to launch a series of completely modern residential compounds, pumping more than 4,000 residential units into the real estate market. “This meets the aspirations and requirements of the market during that historical stage of the State of Qatar, in light of its hosting of the largest and most prominent international sports tournaments ever,” Dabash said. He said the residential properties that will be put on the market are characterised by their qualitative differences in terms of the services they offer, “which we believe will contribute to meeting growing market needs and have an effective role in upgrading the real estate market by providing a wonderful product to those looking for quality and excellent rentals.” Regarding the new compound, Dabash said: “It is located near Al Janoub Stadium, which is one of the most important stadiums that will host key sports matches during the coming period. “As for the choice of the word ‘gardens’, it was an expression of the company’s interest in providing green areas within the scope of the project, which enhances environment preservation and serves mental comfort and happiness for all residents of the compound.” On the development plan launched by Ezdan at the end of 2021, Dabash said the company focuses on improving and developing its services continuously as the company completed the development of a large number of villages and residential compounds during the last period of 2022. The plan is scheduled to include 37 residential villages with a total number of units exceeding 15,000 units in five phases, a large number of which have already been completed, Dabash explained. These include residential villages in Al Wakra and Al Wukair and residential compounds and buildings in Doha. The renovations included a structural revamp, including floor replacement, painting walls, and performing integrated maintenance operations for buildings, in addition to replacing most of the furniture, electrical appliances, and air conditioners in the residential units. “The company had announced an integrated plan whose main objective is to reach the satisfaction of its customers and it has conducted a comprehensive re-evaluation of all properties belonging to Ezdan Real Estate Company to assess the condition of all residential units and their requirements in terms of construction developments, furniture, electrical appliances, and air conditioners, among others, and thus launched the plan that is carried out in successive stages,” Dabash said. Ezdan Holding Group owns about 32,000 real estate units for various purposes in Doha, Al Wakra, and Al Wukair. During the last period, it has offered for rent one of the phases of the Ezdan Oasis realty project, the largest of its kind in Al Wukair. Otherwise known as “the land of a million,” the project comprises residential, administrative, and commercial units, and is an integrated city in the Al Wukair area, Dabash said.    

Commercial Bank opened on Monday its second Premium Lounge at Place Vendome Mall as it continues to lead the way in providing world-class banking experience for the bank’s Premium customers in Qatar. Commercial Bank chairman Sheikh Abdullah bin Ali bin Jabor al-Thani and board members officially opened the lounge during the inauguration ceremony, which was attended by key dignitaries and the bank’s top officials.   Following the successful launch of the first CB Premium Lounge along D-Ring road, this additional facility presents a new milestone in Commercial Bank’s plan to expand the availability and accessibility of banking for its premium clients. It provides them with access to a full range of financial services in luxurious and discreet surroundings and really helps establish Commercial Bank as the number one choice for premium customers in Qatar. Located at Place Vendome Mall’s C-level, the new CB Premium Lounge is designed to welcome Sadara and Private Banking clients in an extraordinary environment, where they will experience a distinct level of service, accessing a full range of banking services, including wealth and investment management, real estate financing, secure access to stock markets, and the full range of banking services offered in the privacy of individual suites. As part of the opening celebration, Commercial Bank is offering eligible guests the chance to win a VIP shopping trip to Turkey for two people, plus the chance to win instant prizes through a grand draw for both new and existing members of Sadara and Private Banking. Commercial Bank Group CEO Joseph Abraham said, “The launch of our new luxurious CB Premium Lounge at Place Vendome Mall is a continuation of our focus on providing our Premium clients with an exclusive experience in luxury premises combining innovative products catered to their lifestyle and wealth needs combined with personalised service and offerings.” To highlight the exceptional services and unique customer experience provided in the new Premium Lounge, Shahnawaz Rashid, EGM and head of Retail Banking, said: “The new CB Premium Lounge aims to exceed our Premium client’s expectations by providing them with access to a wide range of financial services in an extremely luxurious and comfortable environment where they can discuss all their financial matters in total discretion. “All handled by specialists and relationship managers, they will enjoy access to financial advice helping them achieve their goals, accessing wealth, tailored investment and borrowing solutions, plus traditional banking services and access to safety deposit boxes.” Also, Hussein al-Abdulla, chief marketing officer and head of Premium Banking, added: “Our commitment to investing in our Premium customers starts with understanding their deepest needs. We find solutions often in an innovative way to go beyond the ordinary. “This new exclusive Premium Lounge shows our capability in providing them with world-class services in the highest levels of modernity and luxury they have come to expect. Once again, Commercial Bank leads the way in redefining the banking experience in Qatar.”  

Qatar’s energy sector and food security initiatives are among the many investment opportunities that US companies are keen to explore, according to an official of the US-Qatar Business Council (USQBC). Scott Taylor visited the country for the first time since he was appointed president of USQBC in June this year and has held meetings with the Ministry of Municipality, Qatar Free Zones Authority (QFZA), Qatar Financial Authority (QFC), Hassad Foods, and Media City Qatar, among others, during his trip. “These meetings lead into my vision, where I see USQBC, and what we should be doing. USQBC is a bespoke organisation, which has very tailored solutions and access, and is helpful to our members, especially US companies that want to have connections or may need our help to do business in Qatar and vice versa. “Where I think we need to go is one of the reasons why I'm here, and why we'll get to be here fairly often is to understand the direction of the country – where it is going in terms of defence, energy, and food security, climate change, and genomics, ICT, and so on. This country has a vision and USQBC needs to grow with it and aligned with Qatar’s focus, as well,” Taylor told Gulf Times in an exclusive interview. Citing Qatar Media City, for example, Taylor said it has “an ambitious plan,” which includes e-sports and gaming that complements Qatar’s direction post-FIFA 2022. “We have a lot of that (e-sports/gaming) in the US, so that gives me an understanding of where they’re going and where they want to be, so I can reach out to US companies in that space who may want to do business here and have a presence in Qatar. It all comes down to aligning USQBC’s efforts with this country and where it is headed,” he explained. Taylor also lauded the recent arrival of US ambassador Timmy T Davis, with whom he had discussions on US-Qatar business and commercial ties, as well as on the growing relations of both countries. “I’m excited to have him. I know he is going to be a massive resource not just for commerce and business, but also for the relationship of our two countries,” Taylor pointed out. Taylor also assured USQBC’s role in facilitating Qatari investments into the US, citing sectors like real estate and investments in equities and companies, as well. He stressed that USQBC will be bringing different business delegations representing US companies from a variety of sectors to Qatar by next year. “The USQBC will be bringing trade groups, as well as business and congressional delegations, among others, to Qatar after the World Cup. We also would be inviting Qatari companies to explore the investment climate of the different states in the US. The best is yet to come, and we will create a lot of bilateral trade to strengthen the relations of our two nations,” he added.

As an industry, financial technology (fintech), offers a significant opportunity to drive Qatar’s economic diversification, one of the four pillars of Qatar’s National Vision 2030, an official of Qatar Development Bank (QDB) has said. Regulations and support dynamics, such as access to funding, have been put in place bringing up an exciting future for this rising sector, Hilal al-Kuwari, incubation specialist, QDB, told Gulf Times in an exclusive interview. “In fact, the country is steadily becoming a regional fintech hub with a determined growth agenda,” said al-Kuwari, who explained that QFTH is founded by QDB to support the growth of the fintech industry in Qatar. According to al-Kuwari, the country is already taking “big steps” to become a global fintech hub, notably by establishing the QFTH. This has created a sound ecosystem for incubating domestic fintechs and providing an enabling environment for foreign fintechs to invest and grow in the region, he stressed. With two flagship incubator and accelerator programmes, running two waves per year, QFTH has completed three waves and its fourth is ongoing, al-Kuwari explained. “QFTH has already supported 66 fintechs worldwide out of over 2,300 applications we have received across the four rounds we have launched. So far, we have invested more than $7mn in fintechs from early-stage startups to matured companies to support accelerating their growth. “We have also mobilised partnerships with 13 global fintech hubs and have signed MoU’s with the industry’s big players, such as Microsoft, Visa, Mastercard, Vodafone, and most of the leading banks in Qatar,” al-Kuwari emphasised. Furthermore, al-Kuwari said QFTH has launched a whitepaper to analyse the factors and conditions driving fintech in Qatar and to showcase globally why and how the country is emerging as a new home for this growing industry in the Middle East and North Africa. He said the report features the results of detailed studies on various topics, such as the emerging players in the industry, key global fintech trends, drivers of Qatar’s startup attractiveness, key fintech collaborators and venture capitalists in Qatar, and other insights about the fintech ecosystem and their enablers in Qatar. Al-Kuwari noted that the whitepaper had a wide audience of more than 10,000 people and was featured in various platforms across the region. It was in line with the Qatar Central Bank’s vision and was welcomed by all the major fintech associations globally, he also said. Al-Kuwari stressed that QFTH’s incubator and accelerator programmes target entrepreneurs with innovative and cutting-edge fintech ideas, offering financial, mentorship, and training support. “QFTH has, to date, registered 25 fintechs in Qatar, out of which, 15 are Qatar-based startups. These fintechs are operating and creating jobs in the local market. The impact of QFTH’s efforts can also be seen in the achievements of QFTH alumni – from raising funds to partnering with global players and launching new services in the local and regional markets. “Moreover, we are in talks with Qatar University and others to create an internship programme for students, in partnership with QFTH fintechs with an aim to further cultivate and foster fintech talent in the country,” al-Kuwari added.  

Gulf Times’s two-part interview with Carmelo Ezpeleta, the chief executive officer of Dorna Sports, concludes with a preview of the company’s plans for Qatar. He also shares optimism about the future of youth in Qatar, especially in the world of motorsport. Ezpeleta also praised Qatar for the mega infrastructure it has built not only for the country’s hosting of the 2022 FIFA World Cup this coming November and December but also for future sporting events to be held here, as well as Qatar’s commitment to the development of athletes. According to Ezpeleta, Qatar has set such high standards aimed at elevating sportsmanship to greater levels – a feat that would help inspire the youth and future generations. Gulf Times: During the Qatar Economic Forum, Powered by Bloomberg, you mentioned plans to have riders “from many nationalities.” Is Qatar on your radar and are you optimistic that you would be able to tap young talents from this country, as well? Ezpeleta: Qatar is very much on our radar and that of the Road to MotoGP programme. The Road to MotoGP is unrivalled in motorsport – it aims to open doors and increase access to the sport across the world, wherever a rider is from and whatever their background. That includes Qatar and we have already seen Qatari riders compete in the Asia Talent Cup and take podiums, as well as move into the European Talent Cup in JuniorGP. To see this system working makes us very proud. The Road to MotoGP now starts with the FIM MiniGP World Series, in collaboration with the FIM and motorcycle federations and unions around the world. It’s the first global initiative in motorsport aimed at creating grassroots equality, and we were delighted to see the FIM MiniGP Qatar Series immediately become part of this vision. Creating a ladder where opportunity is equal for everyone, whatever the biggest challenge is for each rider, is one of our key goals. Do youth in Qatar have what it takes to become a part of MotoGP? Yes. Young people from Qatar and those from every corner of the world have what it takes. We are very proud that our grids, across MotoGP, Moto2, and Moto3, are so full of talent and riders who have shown their ability and been rewarded for it. This is so important to the sport and to our audience and fans too – all doors to MotoGP are open. On track and off, we want everyone to enjoy motorcycle racing, whether they ride or come to see the sport in the grandstands. Or both! Kindly comment on Qatar’s infrastructure and its sports-related facilities, and do you think these facilities would play a role in encouraging the youth here to aspire and pursue sports as a career? Qatar is second to none in sports-related facilities. From Lusail International Circuit which is the track used for MotoGP as well as Formula1 and the case for all other motorsports, including the Academy, but it also serves as a base for sports in general like cycling and running. The Qatar Motorsport Academy is closely engaged with Aspire, Qatar’s world-leading project for athlete development. These opportunities to grow and test new skills can’t be underestimated. The same will be true in other sports too as Qatar continues to invest. Having amazing facilities like these is only a positive, and an inspiration too. As well as physical infrastructure, the organisational and human side is also important and the QMMF (Qatar Motor and Motorcycle Federation) provides a good example of both. We can already see the results of their investments – including the time, effort, and work put into building each project. This is very important, and the combination of world-class facilities and systemic investment can only encourage and inspire the young people of Qatar. As a major sports property, we are truly grateful that Qatar has set such a high standard and taken such a big commitment to sports as a nation. The values of sport, entailing sacrifice and competition are vital for the new generations.

The US-Qatar Business Council (USQBC) hosted a webinar yesterday showcasing business opportunities in the smart technology sector between Qatar and California. Titled ‘California-Qatar Smart Technology Business Opportunities’, the event was organised in partnership with the World Trade Centre of Northern California; Consulate of the State of Qatar in Los Angeles; Office of the Commercial Attaché, Embassy of the State of Qatar in Washington, DC; California Mobility Centre (CMC); Qatar Mobility Innovations Centre (QMIC); and San Diego Chamber of Commerce. The speakers included Mansoor al-Sulaitin, Consul General of the State of Qatar in Los Angeles; Emily Desai, Deputy Director of International Affairs and Trade at the Governor of California’s Office of Business and Economic Development; Fahad al-Dosari, the State of Qatar Commercial Attaché to the US; Kevin Mather, president, World Trade Centre of Northern California (WTC-NorCal); Dr Adnan Abu-Dayya, executive director, QMIC; Mark Rawson, CEO, CMC; and Mohamed Barakat, managing director and treasurer of the board of directors, USQBC. Moderated by Mather, the virtual event discussed the latest developments and opportunities in Qatar’s sustainable economy and smart city initiatives, which included a panel discussion featuring Abu-Dayya and Rawson, who discussed the recent MoU signed between CMC and QMIC. Al-Sulaitin said, “Qatar has been working toward its smart cities vision for years and the country is quickly being recognised as a leader in digital transformation. Qatar hosted the second edition of Smart City Expo Doha 2022 where more than 70 world-renowned smart city experts from over 60 countries were in attendance, showcasing Qatar’s centrality and prominence in the field of smart technologies.” Desai said, “The State of California looks forward to strengthening the already strong commercial ties with Qatar. California’s technology companies are global leaders and we see exciting opportunities for them in the domestic Qatari market, but also to use Qatar as a foothold to expand to the entire region.” Al-Dosari said, “US companies and their technology have been critical to Qatar’s efforts to drive sustainable economic diversification and improve the quality of life for its residents. Qatar and the US share a long history of commercial partnership and US firms will find many opportunities for export and investment in the Qatari economy, especially within smart city and mobility technologies.” The MoU signed in March 2022 between CMC and QMIC allows both entities to collaborate on initiatives and activities for promoting the development and commercialisation of advanced mobility technologies and services. It also opens the door for the CMC and QMIC to explore further steps towards a definitive agreement to mutually support each other’s initiatives and to work collaboratively to meet shared goals. Abu-Dayya said, “QMIC has been very active in developing and deploying data-centric platforms and services in Qatar since 2009 when it was founded as one of the first market-focused innovation centres in the Middle East in the areas of intelligent mobility and smart cities. “Through our MoU with CMC, we hope to consolidate our expertise in further promoting the development and commercialisation of smart mobility technologies, solutions, and services.” Rawson added: “The CMC aims to advance mobility technologies, strategies, and policies for the benefit of people globally. Our collaboration with QMIC is emblematic of our drive to create exceptional opportunities and technology exchange between California and the State of Qatar.” Mather said, “California companies can succeed globally, and we look forward to more companies expanding their exports and investments in Qatar.” Barakat added: “Qatar is already a regional hub for smart solutions and digital transformation. With the country’s investment-friendly ecosystem, including TASMU, Qatar Financial Centre, Qatar Science & Technology Park, and Qatar Free Zones, among others, the country is well positioned to help American technology companies tap Qatar's domestic market and the wider region as well.”

A delegation from Tanzania’s Ministry of Natural Resources and Tourism is in Qatar to promote key sectors in the East African country that would be strategic investment opportunities for Qatari investors. The delegation, which is headed by Professor Eliamani Sedoyeka, permanent secretary, Ministry of Natural Resources and Tourism, is composed of Fatma M Khamis, principal secretary, Ministry of Tourism and Heritage Zanzibar; Hafsa H Mbamba, executive secretary, Zanzibar Commission for Tourism; Richie Wandwi, director of Tourism, Ministry of Natural Resources and Tourism; and Felix John Michael, deputy director general, Tanzania Tourist Board. Sedoyeka said the delegation’s visit to Doha aims to ensure a robust relationship between tourism and hospitality-related businesses and companies in Tanzania and Qatar. “We’ve seen how Qatar developed, especially in the past 10 years, and that only shows how aggressive the country is in terms of how it wants to strategically position itself, so in the same manner, business people from Qatar can come to Tanzania and invest in our country,” Sedoyeka told Gulf Times. He said, “The main objective is to invite the global business sector and forge partnerships with our tourism operators. One angle we’re looking at is to maximise Qatar Airways flights to and from Tanzania to give tourists a good time, while the other is in the physical infrastructure. “One of our very strategic partners is Qatar Airways, which brings people from all over the world to Tanzania. When they land in Tanzania, it would be beneficial for Qatari companies to tap those numbers; visitors can stay in Qatari-owned hotels in Tanzania, for example, and that would be a win-win situation.” Other investment opportunities in Tanzania is the country’s transport sector, as well as for MICE (meetings, incentives, conferences, and exhibitions) in Zanzibar, Dar-es-Salaam, and Arusha, where an ecosystem and partnerships between Qatar and Tanzania could be forged either business-to-business (B2B) or government-to-government (G2G), Sedoyeka said, adding that the frequency and role of Qatar Airways flights will contribute to the success of potential tour packages for visitors. Khamis also said the delegation’s main target is to take advantage of repositioning Tanzania and its destinations, such as Zanzibar during this period when Qatar is hosting the World Cup. “We understand that the whole world would be here during the tournament, which is why this is the perfect opportunity for us to further promote our country as a destination, as well as for investment opportunities. “We are hoping that this visit would help increase investor and tourist interest in Tanzania, but at the same time, we are also looking to forge long-lasting relationships with authorities from Qatar Tourism, Qatar Airways, Qatar Chamber, and other key players and stakeholders to promote tourism and investments on both sides,” she said. Tanzania also has other investment opportunities in agriculture, mining, oil and gas, sports tourism, and halal tourism, as well as activities like kite surfing, visits to archaeological sites, cultural heritage, and cuisine. Sedoyeka also invited companies in Qatar to participate in the sixth edition of the ‘Swahili international Tourism Expo’ (S!TE), which will be held in Tanzania’s commercial city of Dar-es-Salaam from October 21 to 23.

The Microsoft cloud data centre region in Qatar, which was opened yesterday during a launch event held in Doha, would be supporting the country’s economy and people, as well as efforts on sustainability, an official said on Wednesday. “We’re adding more than $18bn and more than 36,000 new jobs to the economy over the next five years,” said Microsoft country manager Lana Khalaf on the sidelines of a press conference on Wednesday. During the press conference, Khalaf provided a preview of the launching of Qatar’s first hyperscale cloud data centre region held under the auspices of the Ministry of Communications and Information Technology (MCIT), in partnership with Microsoft. Khalaf stressed that the launching of the first global data centre region in Qatar will position the country as a digital hub in the region and the world, supporting Qatar National Vision 2030 toward a sustainable, diversified economy. “This data centre has the largest number of cloud services since the history of Microsoft. It helps companies in major industries to accelerate their digital transformation and innovate from Qatar to the world. “This will be the first global data centre that will be launched in Qatar. It will connect Qatar to the largest cloud infrastructure in the world with more than 140 countries. The data centre will contribute to Qatar National Vision 2030 with three main pillars: the economy, people, and sustainability,” Khalaf explained. She added: “Also, our investment is not only on technology but in people. In collaboration with the MCIT, we previously launched the Digital Centre of Excellence, which aims to skill, re-skill, and digitally skill more than 50,000 people by 2025. “On Microsoft’s commitment to sustainability, the cloud data centre will enable anybody utilising Microsoft’s cloud services to be 93% more energy efficient and 98% more carbon efficient.” Microsoft customers across industries, including the MCIT, through its national initiatives, such as Tasmu Platform and Qatar Digital Government, as well as the Supreme Committee for Delivery & Legacy, and many others, have already embraced the Microsoft Cloud to develop digital capabilities and innovate in their industries. In 2021, MCIT partnered with a global consortium of partners led by Ooredoo to initiate the Tasmu Platform, a one-of-a-kind, ground-breaking, smart city solution. Microsoft has played a vital role as a global technology enabler throughout this collaboration. “In our continued, unwavering efforts to build a ‘smart Qatar’ that is digitally-powered and innovation-driven, we are committed to harnessing the power of integrated cloud-based technologies to offer endless potential value to the people of Qatar,” said Reem Mohamed al-Mansoori, assistant undersecretary of Digital Society Development at MCIT. The Microsoft cloud data centre region in Qatar will drive growth and scale the more than 100 Microsoft partners in the country, as well as global partners looking to establish themselves in Qatar. Microsoft partners, such as EY, Ooredoo, Vodafone, QDS, PwC, ICT, Malomatia, Intel, Mannai, Meeza, Starlink, Veeam, and more, are delivering transformative solutions across the Microsoft Cloud to drive customer success. More than 70% of Qatari startups are on the Microsoft Founders Hub. These startups have the potential to go on and become the next unicorns of their industries. Also, a minimum of 11 global partners and ISV established operations in Qatar last year. IDC’s research also sheds light on downstream revenues generated by Microsoft’s partner ecosystem. The findings reveal that for every $1 of Microsoft cloud-generated revenue, the partner ecosystem is expected to generate $7.87 by 2026, up from $6.41 by 2023. Ends    

The Ministry of Communications and Information Technology (MCIT), in partnership with Microsoft, launched yesterday Qatar’s first hyperscale cloud data centre region, bringing new opportunities for a ‘cloud-first economy’. The Microsoft cloud data centre region joins the world’s largest cloud infrastructure footprint, significantly enhancing Qatar’s competitiveness on a global and regional level in line with Qatar National Vision 2030 and increasing the country’s position as a leader in the digital era. The event, which was held under the patronage of HE the Minister of Communications and Information Technology Mohamed bin Ali al-Mannai, also launches with Microsoft Azure and Microsoft 365, giving organisations access to hundreds of scalable, highly-available, and resilient cloud services. The launch of the Microsoft cloud data centre region in Qatar was recently announced during a special celebratory event – ‘Qatar’s Digital Journey into the Future’, which was held in the presence of esteemed ministers and high-level private sector executives, as well as Microsoft’s global and regional executives. The data centre will have a significant impact on the development of the local economy and support the country’s efforts to diversify its economy, build talent, and attract foreign investment. Speaking at the opening ceremony, al-Mannai said: “We are delighted to translate our ideas and efforts in the field of digital transformation into reality on the ground. Cloud data centres are expected to accelerate innovation, create jobs, encourage skilling and capacity-building initiatives, empower partners, and drive impact on the national economy in line with the Qatar National Vision 2030. “At MCIT, we are proud of all that has been achieved so far in the field of transformation towards comprehensive digitisation, and we are honoured to realise the ambitions of the country’s wise leadership and its vision of digital transformation. We affirm that our ambitions in this field have no limits in the field of digitalisation.” Al-Mannai added: “The launch of the data centre is considered an important milestone in the process of transforming the State of Qatar into an advanced and pioneering digital centre in the Middle East and the world. This journey was inspired by Qatar National Vision 2030, which aims to establish a diversified and competitive national economy.” “These pioneering projects in the field of digital transformation, communications, and Information Technology would not have been achieved without the ambitions of the country’s wise leadership and its vision to this vital sector, believing in its crucial role in the development of other economic sectors, legislative and legal regulation of the sector, and enhance its attractiveness.” Businesses of all sizes and industries can now host their cloud workloads in Microsoft’s Qatar data centre, availing enterprise-grade reliability and performance. Customers can begin leveraging Microsoft Azure to develop advanced applications using AI, data and analytics, IoT, and hybrid capabilities with advanced digital security and more, as well as Microsoft 365, the world’s productivity cloud that delivers best-of-breed productivity apps delivered seamlessly through cloud services. With over 100 compliance offerings – the broadest set of compliance offerings and programmes of any public cloud provider – the Microsoft cloud significantly empowers customers to meet local compliance and policy requirements. This includes the National Information Assurance Certification issued by the National Cyber Security Agency, which Microsoft received earlier this year. The president of Microsoft EMEA, Ralph Haupter, said: “Across Qatar, Microsoft customers are already leveraging our trusted cloud to innovate, achieve their business goals, and do more with less. We are proud to deliver the first hyperscale cloud data centre region to the country, which will significantly amplify opportunities for even more transformation.” Microsoft country manager Lana Khalaf said, “With its longstanding history as an early adopter of technology, Qatar has completely embraced cloud solutions and revolutionised entire industries to develop a new, advanced digital economy. Today’s announcement will enable the country to take these groundbreaking innovations to the world, showcase its standing as a leader in digital transformation and cement its place as a global hub for innovation.” Ends    

The African Continental Free Trade Agreement (AfCFTA) would further boost economic and trade relations between Qatar and South Africa, as well as other countries in Africa, South African ambassador Ghulam Hoosein Asmal has said. According to Asmal, the AfCFTA is the “second largest free trade agreement in the world” and provides investors access to global markets. He said South Africa has concluded several trade agreements that support export market growth prospects. “The best example is the African Continental Free Trade Agreement, which was founded in 2018 with trade commencing in 2021. It creates a single market for goods and services to deepen economic integration in Africa. “Fifty-four of the 55 African countries have signed the AfCFTA and the combined GDP of its members is approximately $3tn to $4tn, and a population of about 1.5bn people,” Asmal explained. The ambassador pointed out that Qatari investors looking to pour investments in South Africa’s manufacturing sector, for example, “would have access to the whole African continent.” “More importantly, I believe that Qatar and South Africa, as well as the rest of Africa, can have trilateral co-operation in terms of investments and to maximise the mining sector, among other industries. The capital may come from Qatar and the resources from South Africa, and I think that is a ‘win-win’ solution. “We need to take advantage of new areas of communication and co-operation so that we could develop our economies and bring development to the ordinary people of the world,” Asmal pointed out. According to data from the Industrial Development Corporation of South Africa (IDC) and InvestSA, foreign investors seeking access to the rest of the African continent can leverage South Africa’s well-developed industrial ecosystem and diversified economy, particularly its established manufacturing sector and value chains, among other benefits. IDC and InvestSA data also noted that numerous regional investment opportunities are available in the climate-smart agriculture and agro-processing sectors. Around 60% of Africa’s arable lands is uncultivated and the continent has abundant water resources for agriculture development. In mining and minerals processing/beneficiation, investors should target key mining sectors for globally-competitive downstream manufacturing metals industries, and minerals exports, as well as to promote energy security and support climate change mitigation efforts. Other sectors for regional investment opportunities include hydrocarbons, particularly natural gas; manufacturing, digital technologies, including Information and Communications Technology (ICT); infrastructure, logistics, and energy development; and other consumer goods and services.    

The chief executive officer of Madrid-headquartered Dorna Sports, Carmelo Ezpeleta, has lauded Qatar for its bid to host the first carbon-neutral FIFA World Cup: The much-anticipated football tournament, which is expected to draw millions of fans and visitors to the country by the end of November this year. Ezpeleta was among the distinguished speakers at the 2022 edition of the Qatar Economic Forum, Powered by Bloomberg, held in Doha. In this two-part exclusive interview with Gulf Times, he elaborates further on some of the major points that he discussed during QEF 2022, such as the shift to sustainable fuels and e-bikes, as well as the success of the World Cup in Qatar. Gulf Times: During the Qatar Economic Forum, Powered by Bloomberg, you reiterated announcements made in 2021 that MotoGP will start moving to sustainable fuels in 2024. Kindly elaborate briefly about your journey towards sustainability and how this decision will have a positive impact on the sport. Ezpeleta: MotoGP has a vital role to play in the world’s push towards sustainability and our move to sustainable fuels is a cornerstone of the sport’s future. Our new era of zero-carbon fuels means we will only use fuel of 100% non-fossil origin from 2027. The first step towards this goal will come in 2024, using fuel of a minimum of 40% non-fossil origin. Billions of people rely on two-wheeled transportation and as the pinnacle of two wheels, MotoGP is the top of this pyramid. We are in the perfect position to drive progress and innovation throughout the sector, working with all our partners and stakeholders to put sustainability top of the agenda. MotoGP is a testing ground where we can help shape a more sustainable future for the whole planet, not just our sport. We can create this positive change and it will then become a tangible change for billions of people. That is true more generally as we work to spread the popularity of two wheels – which is already the most sustainable form of powered transport – and work with partners such as Michelin in their mission to revolutionise the world’s tyres. The same is true of sustainable fuels as its own initiative. Our new era is built on sustainable, drop-in fuels with no single proprietor, meaning greater accessibility and real change for people on the street. Being able to create this positive impact then creates a huge positive impact on the sport itself. It’s that rarest of races: One where everybody wins. Aside from sustainable fuels, you also mentioned plans to achieve carbon neutrality (as well as producing “100% MotoE bikes”). Congruent to these above-mentioned plans is Qatar’s announcement to host the first carbon-neutral FIFA World Cup. What is your opinion on Qatar’s aspirations to deliver this mega-event in a sustainable manner? It’s something incredibly positive. This is how real change is created – everyone; every sport, country, company, and person doing their part to maximise their positive impact. Together, all these positive actions create a domino effect in the wider world and inspire us all to keep looking for ways to improve and create positive change. How successfully do you anticipate this event will turn out considering the world-class stadiums and other related infrastructure that Qatar had built for the World Cup and for future sporting events? During our history of racing in Qatar, we have come to anticipate success and I can only imagine the same will be true of the World Cup. Our experience of Lusail is of a world-class facility, and I expect the infrastructure and facilities built for the World Cup will be no different for all the competitors and attendees. Are you anticipating that more countries, as well as other stakeholders and major players, to follow suit and gravitate towards organising net-zero sports events in the future? Yes. None of these initiatives exist in a vacuum, and I expect to see these positive changes only grow in their scope and influence. Our philosophy is one of racing together; that’s how MotoGP pushes to create positive change, and it’s true of the wider world too. Whether in direct collaboration or healthy competition, everything comes together to create this positive domino effect. And it has to begin somewhere – with pioneers and innovators taking the first steps to inspire that growth to spread.    

Aura Group has announced that it is slated to open 36 new restaurants in Qatar, thus providing more dining options for citizens and residents, as well as for the fans and visitors during the 2022 FIFA World Cup. Naveed Dowlatshahi, Aura Group CEO, made the statement during a special event held recently at Orient Pearl Restaurant along the Corniche. The event gathered and familiarised key players in the country’s hotel concierges and travel agencies sector with the new high-end dining options and to establish a beneficial collaboration in promoting the brands during and after the World Cup. The new brands will be spread across three main destinations: Lusail Boulevard, Al Maha Island, and Hamad International Airport, featuring a mix of Aura’s most successful homegrown concepts and world-famous brands, such as Nammos beach club, the Mykonos beachside restaurant; Zuma for contemporary Japanese cuisine; Em Sherif, fine dining Oriental cuisine; Billionaire Doha, the luxury dining and extravagant show concept paired with nightlife; LPM French Mediterranean and Niçoise Restaurant; Carbone, an Italian-American restaurant; Beefbar Steakhouse; and Tatel for Spanish-Mediterranean cuisine. The group is also set to open outlets of other notable concepts, such as Rossopomodoro, Streetery, Concept by Lemon Butter, Han Shi Fu, Pura Vida, Maia Lounge, Maia Café, Maia Boutique, Moka Caffe, Belhambar, and many more, in various iconic venues, including Mall of Qatar, The View Hospital, the Korean Medical Center (KMC), Qatar’s newest state-of-the-art medical facilities, and Doha Corniche. These globally-renowned restaurants will cater to the growing demand for upscale and international food outlets to satisfy the gastronomic taste of guests before, during, and after the 2022 FIFA World Cup. The internationally-admired brands will serve as motivation to attract more visitors from abroad and bring an amazing new experience to the market. Aura Group is the leading F&B and entertainment company in Qatar. Within a short period, the group has developed a diversified portfolio of both local and world-leading signature brands. Through its commitment to excellence, Aura Group has continued to deliver a world-class and prestigious experience, earning it an enviable position as a leading operator within Qatar and beyond. Dowlatshahi said: “We are excited to enrich Qatar’s dining offerings with the opening of new high-end and most sought-after restaurants carefully selected from award-winning brands from across the globe. We always strive to ensure that Qatar’s hospitality and entertainment industry continually see a deserving expansion that is corresponding with the fast-pacing development the country is witnessing in various sectors in anticipation of the 2022 FIFA World Cup, the first to be held in the Arab region. With its expansive portfolio, Aura Group is all set to satisfy the culinary and entertainment needs of football fans coming to Qatar from different parts of the world during and after the tournament.”    

Trade and economic co-operation between Qatar and Ukraine “have significantly intensified” over recent years, said Ukrainian ambassador Andrii Kuzmenko, citing data from the State Statistics Service of Ukraine. Kuzmenko said the total volume of foreign trade (goods and services) between both countries in 2021 stood at “$178.9mn,” “which is the largest figure in the history of Ukraine-Qatar diplomatic relations.” Speaking to Gulf Times yesterday, Kuzmenko said the volume of trade in goods “increased significantly” and reached “$166.71mn.” At the same time, the volume of exports to Qatar amounted to “$148.03mn,” while the volume of imports of Qatari goods stood at “$18.68mn.” “The positive balance for that period is worth $129.55mn,” the ambassador noted. Kuzmenko said bilateral trade in services between Ukraine and Qatar “is relatively low.” However, in 2021, there was a slight increase, mainly due to the renewal of transport services, which amounted to “$12.19mn.” “The export of services to Qatar amounted to $6.44mn. Imports to Ukraine amounted to $5.74mn. The positive balance for Ukraine is $704,000,” Kuzmenko pointed out. Trade between both countries “took off on a positive note” at the beginning of 2022, the ambassador emphasised. “Exports to Qatar constituted up to $4.88mn, while imports from Qatar stood at $1.39mn in January 2022. Of course, the delivery of commodities was almost fully terminated due to the blockade of the Ukrainian seaport after the war with Russia began,” he explained. Kuzmenko said: “According to results in 2021, despite the restrictive measures taken by the Qatari government and certain changes in trade policy aimed at combating the spread of the coronavirus infection, a positive trend towards bilateral trade in goods is preserved.” In 2021, Ukraine’s exports to Qatar comprised the following goods: ferrous metals (54.3%), ‘different items’ (17.6%), fats and oils (12.8%), food industry residues (4.2%), ferrous metal products (2.9%), and milk and dairy products. Ukraine’s imports from Qatar in 2021 were plastics, polymeric materials (78%), organic chemical compounds (13.9 %), and products of inorganic chemistry (7.9 %). “The establishment of the Joint Commission on Economic, Trade, and Technical Co-operation between the governments of Ukraine and Qatar brought strong impetus towards the acceleration of trade between the two states, and the deepening and intensification of business and people-to-people ties. “Both sides have agreed on the key areas of cooperation and mutual interest. The second session of the joint commission took place in August and September 2021 in Kyiv. Both sides confirmed to conduct the third session of the commission in 2023,” he said. Kuzmenko said the “most successful achievement so far” in the development of investment cooperation between Ukraine and Qatar is the agreement signed between the Ministry of Infrastructure of Ukraine, the Ukrainian Sea Ports Authority (USPA), and Qatari company QTerminals for the concession of the Ukrainian port, Olvia. The official signing ceremony took place on August 20, 2020, via video conference. Under the agreement, QTerminals will invest about $140mn to develop the port over the next five years, he noted. Kumenko added: “Qatar’s role in humanitarian relief and development is quite remarkable, and this is the right time to think about post-war reconstruction and development. “And we believe that the achieved level of bilateral co-operation in the field of trade and economy will be restored after the war, and this will demonstrate new high record levels. Along with this, Qatar is welcome to participate in the implementation of various post-war reconstruction projects to rebuild Ukraine's civilian infrastructure.”