Qatar is becoming a regional hub for technological innovation and the country has created special economic zones to attract foreign capital, particularly in logistics, FinTech, and advanced manufacturing, said HE the Undersecretary at the Ministry of Commerce and Industry, Sultan bin Rashid al-Khater.
These distinct commercial areas provided significant fiscal and regulatory incentives, in addition to infrastructure support, al-Khater noted.
He was chairing the Economic and Commercial Cooperation Session organised within the fourth annual Qatar-US Strategic Dialogue, in Washington DC.
Qatar, he said was pursuing economic diversification to gradually reduce its dependence on hydrocarbon industries, and move toward a knowledge-based economy.
The country will continue to expand and modernise its world-class transportation and communications infrastructures to bolster trade and logistics.
Al-Khater indicated that Qatar hosted about 120 wholly-owned US companies, and some 640 US- Qatar joint ventures.
He said Qatar has taken “unprecedented” measures to limit the virus’s (Covid-19) impact, both socially and economically, including economic stimulus packages.
Qatar National Vision (QNV 2030) emphasises the importance of women's participation in strengthening and building the future of Qatar, al-Khater affirmed.
"In this regard Qatar today had the highest rate of female economic participation in the Arab world and that many Qatari women occupied leading and executive roles in both the public and private sectors."
During his speech at the session, al-Khater stressed that the meeting represented the "longstanding ties" between the two nations and "reaffirmed their mutual commitment to strengthening the economic and commercial cooperation between Qatar and the United States of America."
On the Qatari side, representatives of a number of government agencies and relevant bodies participated in the session including the Ministry of Commerce and Industry, the Ministry of Finance, the Investment Promotion Agency, the Qatar Investment Authority, the Qatar Central Bank, the Qatar Development Bank, and the US-Qatar Business Council.
Al-Khater also reiterated “Qatar's commitment to fairness, transparency, high standards, and the rule of law in international trade and investment, which in turn, would instill a more open global trading system.”
The Economic and Commercial Cooperation Session featured several discussion panels on Qatari investments in the United States; investment opportunities in Qatar and the US, ways to deepen capital markets and accelerate Fintech; and women's economic participation.
Ends
HE the Undersecretary at the Ministry of Commerce and Industry, Sultan bin Rashid al-Khater chairing the Economic and Commercial Cooperation Session organised within the fourth annual Qatar-US Strategic Dialogue, in Washington DC.