More GCC investors exploring Qatar’s business climate as government relaxes Covid-19 protocols, says QIBC official

The government’s decision to relax its Covid-19 protocols has played a significant role in attracting more investors from neighbouring countries in the GCC to explore the investments opportunities available in Qatar, an official of the Qatar-Indonesia Business Council (QIBC) has said.“Aside from GCC nationals and residents visiting Qatar, there has been an uptick in the number of business people from neighbouring Gulf countries who are keen to explore the investment opportunities being offered by the state.“The announcement of the gradual lifting of Covid-19 protocols, as well as the new travel policy, has increased investor confidence in Qatar’s business climate across a wide range of industries and sectors,” QIBC president Farhan al-Sayed told Gulf Times yesterday.On July 12, Qatar enforced a new travel policy exempting fully vaccinated passengers from quarantine, a development that was welcomed by residents and citizens, as well as stakeholders from the private sector.In a previous statement on the new policy, the Ministry of Public Health (MoPH) stated that “individuals are exempted from quarantine if they are fully vaccinated with an MoPH-recognised vaccine and at least 14 days have passed after receiving the second dose of a two-dose series vaccine or from the single dose in case of single-dose regime vaccine.”Al-Sayed said the travel and tourism industry, as well as stakeholders in Qatar’s retail and hospitality sectors, stand to gain from the expected tourist inflow in the coming period.He also pointed out that food and beverage (F&B) establishments in Doha and mall tenants witnessed a surge in customer footfall following the government’s announcement of Phase 3 of its Covid-19 protocols.“I expect brisk businesses within these sectors as Qatar prepares for the staging of the first edition of the FIFA Arab Cup in November and December of this year. This is a mega event that would gather more than 20 Arab countries from the Middle East and North Africa,” al-Sayed explained.“As Qatar braces for a surge in tourist inflow, both the vaccinated and unvaccinated must continue to practice proper hygiene and to wear masks, as well as to observe other health and safety protocols required by the Ministry of Public Health. We should not let our guard down even if Qatar continues to witness more recoveries and a drop in the number of infection cases,” he stressed.Aside from Qatar’s economic gains from the influx of potential investors and tourist arrivals, al-Sayed noted that energy prices “are in a strong position” and would help boost Qatar’s economy and push forward the completion of existing government projects, as well as other infrastructure projects in the pipeline.