World Cup is Qatar’s ‘strong point’ in attracting FDI, says Sheikh Faisal

The Qatari Businessmen Association (QBA) spent an eventful year meeting with different heads of state and hosting top government officials from other countries, organising trade delegations here and abroad, and participating in a variety of conferences tackling key issues.
In February, QBA organised a business lunch in honour of Sir Gerald Grimstone, the UK’s Minister of State for Investment, and Simon Penny, Commercial Commissioner for the Middle East. Both officials were received by QBA chairman HE Sheikh Faisal bin Qassim al-Thani and other officials and members of the association.
The meeting discussed the current investment opportunities in the UK and plans for Qatar as a strategic economic partner. Sheikh Faisal underscored the need to develop partnerships and cooperation, noting the importance of Qatar’s private sector as an important and strategic partner for the UK.
In the same month, QBA met with Mozambique President Felipe Jacinto Nyusi on the sidelines of his visit to Qatar. HE Sheikh Faisal expressed his interest in exploring the available investment opportunities in Mozambique.
The president of Algeria, Abdelmadjid Tebboune, also met with QBA in February when he visited Qatar for the ‘6th Summit of Gas Exporting Countries Forum’. Sheikh Faisal lauded Algeria for its “great natural and economic potential.” He also highlighted the keenness of Qatari businessmen to discuss with their Algerian counterparts the potential cooperation and investments in both countries.
The sixth GECF summit also witnessed QBA’s meeting with Iranian President Ebrahim Raisi where discussions focused on activating the Iranian Commercial House in Qatar and raise trade exchange between both countries.
In March, QBA, along with the Qatari Businesswomen Association (QBWA), met with Assila bint Salem bin Suleiman al-Samsamiya, undersecretary of Oman’s Ministry of Commerce, Industry and Investment Promotion.
During the meeting, Hussain Alfardan, QBA first deputy chairman, stressed Qatar’s keenness to develop economic relations with Oman, which is also seen as an ideal hub for tourism and real estate investments.
Sheikh Dr Khalid bin Thani al-Thani, QBA second deputy chairman, lauded Qatar-Oman ties and described the Sultanate as a “second home” for Qataris. He also expressed interest in learning more about offered investment projects in the industrial and financial sectors.
QBA also met with German Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action, Dr Robert Habeck, who visited Qatar in March with a high-level economic delegation. The visit aims to strengthen the economic relations between the two countries and explore new opportunities in both Doha and Berlin.
This was followed by QBA’s meeting with Jane Harman, former member of the US House of Representatives and her accompanying delegation on the sidelines of the Doha Forum. During the forum, QBA also organised a business dinner at the majlis of Sheikh Dr Khalid in honour of the visit of the Global Advisory Council of the Wilson Centre headed by CEO Mark Green.
The Prime Minister of Mali, Shugel Maiga, was also in Doha last March and discussed with QBA the possibility of organising a Qatari-Mali Economic Forum to review all investment opportunities available in both countries.
QBA participated in the Qatari-Spanish Business Forum, which was held on the sidelines of the official visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Madrid in May. The meeting was attended by Spanish Prime Minister Pedro Sanchez, HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani, and Spain’s Minister of Trade, Industry and Tourism Reyes Maroto.
QBA participated in the 2022 Hannover Messe, which was held from May 30 to June 2 in Germany. Hannover Messe is considered a substantial fair in the world of technology and industry.
The association met with Counselor Mohamed Abdel Wahab, CEO of the Egyptian General Authority for Investment and Free Zones (GAFI) in June and discussed ways to develop the investment ties of both two countries. The two sides agreed to organise bilateral visits for the Qatari and Egyptian business communities.
During QBA’s meeting with Ali Reza Beyman, Deputy Minister of Industry, Mining and Trade of Iran and Head of the Iranian Trade Promotion Organisation, in June, Alfardan confirmed the interest and keenness of both sides to enhance economic and trade relations and develop trade exchange.
QBA organised a business lunch in honour of the June visit of a Swiss delegation comprising companies and hospitals specialising in medical tourism and medical services.
In the same month, QBA held separate meetings with Armenian Prime Minister Nikol Pashinyan and his Deputy Prime Minister, as well as with Algerian Minister of Agriculture and Rural Development Mohamed Abdel Hafeez Hani, to discuss co-operation opportunities and develop economic relations.
QBA also met with Venezuelan President Nicolas Maduro and his ministers of tourism, transport, agriculture, science and technology, during their visit to Doha in June. In the same month, QBA travelled to Algeria and met Minister of Tourism and Handicrafts Yassin Hammadi and Minister of Housing, Urbanisation and the City Mohamed Tariq Belaribi to discuss investment opportunities in tourism and real estate.
Also, in the second meeting of the Algerian-Qatari Business Council, both sides agreed to develop trade and economic relations and discussed ways to boost Qatari investments in Algeria in various economic sectors.
QBA organised a business lunch for Egyptian Minister of Trade and Industry Nevin Gameaa and her accompanying delegation. During the meeting, Sheikh Faisal stressed the importance of strengthening joint cooperation between Qatar and Egypt in various economic sectors, especially in the new industrial zones.
In August, QBA held a meeting with Shehbaz Sharif, Prime Minister of Pakistan, who visited Qatar with his accompanying delegation to strengthen bilateral relations and support economic cooperation.
In the same month, QBA met with the US Women’s Global Initiative delegation during a business dinner organised in cooperation with the Qatari embassy in Washington. The dinner was also joined by board members of QBWA.
In October, QBA met with Egyptian President Abdel Fattah al-Sisi and Egyptian Prime Minister Dr Mostafa Madbouly on the sidelines of the First International Forum and Exhibition for Industry held in Cairo.
QBA also celebrated the conclusion of the 2022 FIFA World Cup, which coincided with the celebration of Qatar National Day recently. Sheikh Faisal emphasised that Qatar National Day “will remain unforgettable” because of the major achievements during the reign of His Highness the Amir Sheikh Tamim bin Hamad al-Thani.
Sheikh Faisal said: “The World Cup will be a strong point for attracting foreign investment, which is what we are currently working on through our external presence and efforts to promote Qatar and it will reflect positively on the country’s future as an investment and tourism destination capable of rising to the challenges of competition.”
Alfardan stressed that the infrastructure built in preparation for the World Cup will have a major role in achieving the sustainable development goals included in Qatar National Vision 2030. He said this will have a direct and indirect reflection on trade, transport, and services, in addition to promoting Qatar as a global sports capital and related specialisations, such as training and rehabilitation centres for sports teams before the start of the sporting seasons and during rest periods, in addition to medical tourism, among others.
Sheikh Dr Khalid said: “The state has launched projects in various fields during the past 10 years and today, we are proud of the crowds amidst the fascination of everyone who visited Qatar and the infrastructure that was built, which is not limited only to the World Cup but beyond. In light of huge projects in the field of LNG production, this would provide financial resources that can be used to diversify the economic fabric of the country.”
He added that the World Cup will be Qatar’s gateway to broader growth prospects in various economic and social fields and will contribute to further promoting Qatar’s image globally.