Italian Ambassador Guido de Sanctis (right) congratulates Al-Faisal Holding vice-chairman Sheikh Mohamed bin Faisal al-Thani as honorary president of the Italian Chamber of Commerce in Qatar. Looking on is the chamber’s chairperson, Palma Libotte. PICTURE: Shaji Kayamkulam

By Peter Alagos/Business Reporter


Al-Faisal Holding vice-chairman Sheikh Mohamed bin Faisal al-Thani said he aims to boost bilateral trade volume between Qatar and Italy as honorary president of the Italian Chamber of Commerce in Qatar.
Speaking to the media at the offices of the Qatari Businessmen Association (QBA) here, Sheikh Mohamed said he will be exploring business opportunities both here and in Italy, specifically in the tourism sector.
“I’m trying to enhance Qatar and Italy’s trade relationship by initially hosting business meetings and trade delegations in order for these companies to meet each other. And I am optimistic that we have a bright future in store for both the countries,” Sheikh Mohamed told Gulf Times. He added, “Italy has always been an important trade partner to Qatar as bilateral trade between our two countries has reached €2.5bn and we imported almost €1bn worth of Italian goods in 2014. These significant figures show that products made in Italy are well-appreciated in Qatar.”
He also described Al-Faisal Holding as a well-diversified company with international investments in the tourism field. Only recently, its international hospitality subsidiary, Al Rayan Tourism and Investment (Artic), has acquired the five-star Boscolo Aleph Hotel in Rome, Italy.
Sheikh Mohamed said Artic’s luxury hotel acquisition is the latest premium property in its portfolio across Europe, the Middle East, Africa, and North America, in line with the company’s expansion strategy focused on high quality assets.
“As vice-chairman of Al-Faisal Holding, we have long appreciated the Italian market’s potential, especially in the tourism and hospitality fields. And I am glad to announce that our prime investment in the Italian market was the acquisition of Boscolo Aleph Hotel and we have the appetite for further investments in the same sector,” he explained.
This was reiterated by Italian Chamber of Commerce in Qatar chairperson Palma Libotte, who stressed that “one of Sheikh Mohamed’s strengths is his being the vice-chairman of a well-diversified company such as Al-Faisal Holding.”
“Aside from diversified investment strategies, Sheikh Mohamed has a wide range of information that will be useful for us to fit the SMEs (Small and Medium-sized Enterprises) that are targeting the Qatari market,” Libotte said. She noted that the challenge for Italian firms and other international companies looking to do business in Qatar is market information, which the chamber helps to provide. “This is why we are sure that we have a precious ally on our board who will give us the right information to fit in these companies and enable us to help them target the right projects,” Libotte stressed.
According to Libotte, while Qatar is a small country there are many opportunities in several defined sectors.
“Our goal at the chamber is to be a reliable hub for Qatari businesses for useful information on Italian firm, products, and contacts. This is our way of contributing in the majestic development that Qatar is experiencing,” she added.
Libotte said the chamber will be launching the Italian-Qatari businessmen dinner at the residence of Italian Ambassador Guido de Sanctis on February 9. Also included in the chamber’s activities for the year are Qatari trade delegations to Italy and the Back2Business (B2B) event in association with nine other international business associations and the QBA.


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