Business

Wednesday, April 24, 2024 | Daily Newspaper published by GPPC Doha, Qatar.

Business

Officials of both chambers during a meeting held in Doha on Wednesday.

Qatar, Jordan record QR746mn trade volume in 2023

Qatar-Jordan trade volume stood at QR746mn in 2023, according to Qatar Chamber second vice-chairman Rashid bin Hamad al-Athba.Al-Athba made the statement during a meeting with Jordan and Amman Chambers of Industry chairman Fathi al-Jaghbir and his accompanying delegation.Qatar Chamber board members Abdulrahman al-Ansari and Shaheen al-Mohannadi, as well as several Qatari businessmen and manufacturers, also attended the meeting.During the meeting, both sides discussed means to enhance co-operation between both entities, the investment climate, and opportunities available in both counties.It also explored co-operation between companies from both sides in food processing, agriculture and livestock, plastic and rubber industries, timber and furniture, clothing, construction, chemicals, paper and carton, and packaging.Al-Athba lauded the developed relations between both countries across all sectors and levels, stressing their common desire to develop these further.He noted that Qatar is one of the largest investors in Jordan's various sectors, such as real estate, tourism, banking, healthcare, energy, and oil derivatives.Al-Athba also said many Jordanian companies are operating in Qatar, whether in full capital or with Qatari partners, in sectors like trading, contracting, construction, interior design, maintenance, events, real estate brokerage, services, education, carpentry, and prefabricated kitchens, among others.According to al-Athba, it is important to constantly enhance the co-operation of the private sector of both countries, noting that this will contribute to developing the bilateral trade exchange, which reached QR746mn last year compared to QR660mn in 2020, an increase of 13%.He also emphasised the importance of activating a business council and intensifying mutual visits between business delegations from both sides.Al-Athba encouraged Jordanian companies to take advantage of the investment climate in Qatar and the incentives offered to foreign investors.He also highlighted that Qatar attaches great importance to the industrial sector, saying it offers a host of incentives, such as the allocation of lands, the exemption of customs duties on imported machinery, equipment and raw materials, and the exemption of income tax for a duration of up to 10 years, as well as the provision of electricity at reasonable prices.“Qatar owns a world-class infrastructure, leading economic legislation, and a variety of incentives and opportunities in almost all sectors, especially in free and logistic zones,” he said.Al-Athba said the chamber encourages Qatari investors to explore opportunities galore in Jordan and enhance co-operation with their counterparts.For his part, al-Jaghbir commended the fraternal relations between both countries, praising the development of the Qatar industry sector.Al-Jaghbir underscored the significance of bolstering co-operation between both sides in industry and streamlining procedures of exporting manufactured products. He proposed holding a joint business forum between businessmen and manufacturers in Amman to explore new horizons of co-operation and investment opportunities available in the industrial sector.Al-Ansari, who is the chairman of the chamber’s Industry Committee, emphasised the importance of strengthening co-operation between both parties in industrial fields, noting that Qatar is characterised by the provision of raw materials in petrochemical and energy sector which driven the growth in petrochemical industries. He assured the Qatari side’s preparedness to examine opportunities available in Jordan in industry sector to establish joint venture whether in Qatar or in Jordan.

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Damage in Israeli air base after Iran attack

Israeli army footage of what it says is the damage caused by the Iranian attack on the Nevatim Air Base, which was launched late Saturday in retaliation for a deadly air strike widely blamed on Israel that destroyed its consular building in Syria's capital early this month. AFP

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Six months of bloodshed: The toll on Gaza’s children

The bloodiest ever Gaza war which broke out over six months ago has taken an appalling toll on children. NGO Save the Children estimates that some 26,000 children have been killed or injured in the war, 17,000 have been orphaned, according to UNICEF, and 1 in 3 children under two years old in northern Gaza is suffering from acute malnutrition. In total, at least 33,207 people have been killed in the besieged Palestinian territory in Israel's retaliatory campaign for the October 7 attack, according to Hamas-run Gaza's health ministry. The unprecedented Hamas raid on southern Israel resulted in the deaths of 1,170 Israelis and foreigners, most of them civilians, according to an AFP tally based on official Israeli figures. AFP

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Gazans struggle to secure flour for daily bread

"I spent the night on Kuwait Roundabout to secure this bag of flour", says a Palestinian in Gaza City carrying a bag of flour he managed to get from an aid truck. A UN-backed report warned that half of Gazans are experiencing "catastrophic" hunger, with famine projected to hit the north of the territory unless there is urgent intervention. AFP

During the expo, UDC showcased its flagship projects, including developments at The Pearl Island and Crystal Residence at Gewan Island

UDC showcases premium real estate portfolio at International Real Estate Expo in Mumbai

United Development Company (UDC), the master developer of The Pearl Island and Gewan Island, concluded its participation as lead partners at the International Real Estate Expo (IREX) 2024 held recently in Mumbai.IREX Mumbai stands as India’s leading showcase of international real estate and immigration programmes, providing a platform for high-net-worth individuals and investors to explore global investment opportunities.For the second consecutive year, UDC presented its exciting portfolio of properties at The Pearl Island and Gewan Island during the IREX Mumbai exhibition. This participation marked another significant step in UDC’s strategic engagement with the vibrant Indian market and its objective to attract foreign investments into Qatar’s thriving real estate sector.UDC’s partnership with Commercial Bank, its financing partner, allows foreign non-resident investors seamless access to real estate investment in Qatar. This collaboration provides attractive financing solutions that complement UDC’s premium residential developments, offering high returns and Qatari residency benefits to foreign investors.During the expo, UDC showcased its flagship projects, including developments at The Pearl Island and Crystal Residence at Gewan Island. These projects represent some of the most sought-after residential destinations in Qatar, highlighting the luxury and quality synonymous with UDC’s developments.IREX Mumbai attracted over 1,000 visitors, providing an ideal platform for UDC to engage with potential investors and showcase Qatar’s inviting residency scheme linked with property ownership. UDC’s presence at the event emphasised the eligibility criteria for Qatari residency and the associated benefits, further enhancing awareness among Indian investors.UDC’s ongoing strategic engagements in global events, including its recent participation in the International Immigration & Property Expo 2024 in Hong Kong and MIPIM in Cannes, reflect its commitment to attracting foreign investments and delivering premium real estate developments in Qatar.

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