Qatar Chamber director general Remy Rowhani. Right: AmCham chairman Robert Hager. PICTURE: Thajudheen.
By Peter Alagos/Business Reporter
The Memorandum of Understanding (MoU) to be signed by Qatar Chamber (QC) and the American Chamber of Commerce will complement the more than $35bn worth of Qatari investments to be poured in the US, QC director general Remy Rowhani said.
Rowhani said a Qatari delegation from the chamber will accompany HH the Emir Sheikh Tamim bin Hamad al-Thani, who is expected to visit the US in the next two weeks. The signing of the MoU with the American Chamber of Commerce will be part of the Emir’s visit, he added.
Speaking to Qatari and US companies attending the “Doing Business in the USA Forum” organised by the American Chamber of Commerce in Qatar (AmCham) yesterday at the Four Season Hotel, Rowhani reiterated HE the Minister of Finance Ali Sherif al-Emadi’s announcement that Qatar plans to increase investments in the US over the next five years to exceed $35bn.
In a visit to Washington DC last month, the finance minister said the $35bn worth of investments are aimed at various economic fields such as energy, technology, and real estate.
“While the $35bn Qatari investment in the US comes from the government side, the MoU also opens the door for private sector investments, which we hope could go beyond this amount because excellent figures are coming out of the US today,” Rowhani told Gulf Times.
He added, “It (MoU) also gives a better opportunity for Qatari businesses to go there and for US businesses to come here. It is protocol but it is an interesting advancement in the relationship between the two countries.”
Rowhani also stressed that the recent visit of HE Sheikh Mohamed bin Hamad bin Khalifa al-Thani to the US “reaffirms the strong ties between the US and Qatar.”
He also lauded the $1.5bn City Center DC project in Washington, which he said “represents Qatari Diar’s first significant investment in the US real estate sector.”
Quoting the finance minister’s speech in Washington, Rowhani stressed that “Qatar is keen to establish strong partnerships with US companies to enhance the implementation of a range of development projects in Qatar.”
Earlier this month, HE Sheikh Mohamed bin Hamad bin Khalifa al-Thani led a Qatari delegation, which held several important meetings as part of its visit to the US.
During the meetings, HE Sheikh Mohamed bin Hamad bin Khalifa al-Thani was accompanied by the finance minister, HE the Governor of Qatar Central Bank (QCB) Sheikh Abdullah bin Saud al-Thani, and HE Qatar Investment Authority CEO Sheikh Abdullah bin Mohamed bin Saud al-Thani.
For his part, AmCham chairman Robert Hager said the forum serves as a venue to open investment opportunities for Qatar companies in the US.
“As representatives of the US in Qatar, we would also want our Qatari friends to know what markets are strong and the opportunities that are available in the States,” Hager told Gulf Times.
He added, “We welcome the $35bn worth of Qatari investments coming from the government sector but the forum also highlights the opportunities from the private side. There is tremendous opportunity in real estate, hotels, partnerships and joint ventures, technology, transportation, and infrastructure, which we feel would be growth areas in the US in the next 10 to 20 years.”
