An official of the US-Qatar Business Council (USQBC) has underscored its commitment to promoting investment opportunities and attracting foreign direct investments (FDI) in line with the Qatar National Vision 2030.
“Promoting trade and business opportunities beyond traditional sectors can help companies explore new avenues and sectors aligned with the vision’s goals, such as technology, innovation, renewable energy, and tourism,” according to Sheikha Mayes al-Thani, managing director of USQBC in Qatar.
USQBC aims to foster investment flows that contribute to the goals of the Qatar National Vision 2030 by providing information, market insight, and networking platforms to facilitate the exchange of information between businesses from the US and Qatar, Sheikha Mayes stated in the latest edition of ‘The Business Year: Qatar 2024’.
On Qatar’s business climate and potential for growth and investment, Sheikha Mayes told TBY that the government has been active in diversifying the economy and reducing its dependence on hydrocarbon revenues.
“The Qatari business environment is favourable, with several factors that contribute to its potential for growth and investment. First, its substantial oil and gas reserves have contributed significantly to Qatar’s economic stability and robustness. Several policies were also implemented by the government to foster economic stability and encourage foreign investment.
“Second, Qatar made substantial investment into infrastructure projects in preparation to host the 2022 FIFA World Cup, resulting in a wide range of services now being available to both domestic and foreign businesses, including transportation networks, stadiums, hotels, and more. For businesses engaged in trade and transportation, Qatar’s advantageous location offers logistical advantages,” Sheikha Mayes said.
She also lauded the Qatari government for introducing several incentives and initiatives to attract foreign investment, such as tax exemptions, simplified business registration procedures, and sector-specific incentives, among others.
“Moreover, there has been an active effort by Qatar to diversify its economy beyond the energy sector. Growth and investment opportunities have been targeted in areas, such as finance, real estate, tourism, infrastructure, and technology,” she pointed out.
According to Sheikha Mayes, the USQBC plays a vital role in fostering trade, investment, and collaboration between Qatar and the US by organising networking events, conferences, seminars, webinars, and business forums that bring together business representatives from both countries.
“Additionally, USQBC assists in the identification of potential business partners or clients between companies in the US and Qatar, including organising B2B meetings, arranging trade missions, or facilitating introductions based on specific interests in an industry or sector.
USQBC contributes to the development of trade between the US and Qatar by showcasing business opportunities, facilitating market entry, and providing market intelligence to its members,” she said.
Sheikha Mayes added: “To help companies navigate the business landscape, USQBC provides information on regulations, trade policies, market trends, and investment incentives.
“As a member-led organisation, USQBC advocates policies and initiatives that enhance bilateral trade and investment in Qatar and the US. The council works closely with government entities and stakeholders to address any barriers or challenges faced by companies and to promote a favourable business environment.”
Sheikha Mayes al-Thani, managing director of USQBC in Qatar.
