Chamber highlights investment opportunities in Qatar to Serbia, Bulgaria and Greece delegations

Qatar Chamber held a meeting in Doha yesterday with representatives of the Greece-Qatar Business Council and a group of journalists and bloggers from Serbia, Bulgaria, and Greece. The Chamber highlighted the features of the Qatari economy and the country’s investment climate, as well as its role in revitalising the private sector and maximising its contributions to Qatar’s economic development.The meeting reviewed efforts exerted by the private sector to overcome the consequences of the blockade imposed on the State of Qatar for more than two years, and it also highlighted the most important aspects of development under the Qatar National Vision 2030.Qatar Chamber second vice-chairman Rashid bin Hamad al-Athba underlined the importance of relations between the Qatari private sector and its counterparts in Balkan countries, pointing out that the trade exchange between Qatar and Serbia, Bulgaria, and Greece “is still below expectations and inconsistent with the great potential available in both sides.”He said the total value of trade between Qatar and Greece, Serbia, and Bulgaria amounted to about QR417mn last year (QR84mn, Bulgaria), (QR26mn, Serbia), and (QR307mn, Greece).Al-Athba stressed that Qatar has created “one of the most attractive investment climates in the world” by developing a stable legislative environment and issuing new laws that protect and encourage domestic and foreign investments.He added that the Qatari economy, “one of the fastest growing and dynamic economies in the world,” witnessed strong performance in the past two years, “driven by the wise policies adopted by the State” to stimulate various sectors, even as Qatar’s GDP stood at $225bn in 2018.Citing international forecasts, al-Athba said the country’s economy will grow by 2.7% in 2019 and 3% in 2020, partly because of foreign direct investment. “Expectations suggest the country’s economy will grow by 3.4% by 2021, driven by higher growth in the services sector,” he said.On Qatar’s investment climate, al-Athba said Qatar has developed modern legislation governing the business environment, including the law on non-Qatari capital investment in economic activity, which allows foreign investors to own up to 100% in all sectors. He noted that Qatar’s free zones attract more foreign investments, while the single window facilitates the procedures of establishing companies and businesses.Greece-Qatar Business Council chairman Panagiotis Mihalos lauded the development of the Qatari economy, as well as its business environment, which attracts foreign investments and the record growth achieved by the State in the past two years, especially in achieving self-sufficiency in certain goods and products.Mihalos described Qatar as “a fast and attractive market” for international businesses, adding that many companies from Balkan countries hope to enter the Qatari market and open branches here.He said the delegation seeks to learn about the progress achieved by Qatar in all fields, and to open new channels of communication that contribute to the promotion of trade and economic co-operation between Qatar and Balkan countries, in addition to developing the relationship of the Qatari private sector with its counterparts.