Top private sector players led by the Qatari Businessmen Association (QBA) have explored investment opportunities in the US in the fields of retail and tourism, as well as the health and medical equipment sector.
Chairman HE Sheikh Faisal bin Qassim al-Thani led the QBA in a series of dialogue and roundtable discussions with US officials and other private companies as part of Qatar’s ‘Economic Promotional Tour’ held from April 1 to 8.
The tour included high-level meetings in a number of US cities that have witnessed a flow of Qatari investments such as Miami, Florida; Washington DC; Charleston, South Carolina; and Raleigh, North Carolina.
Speaking before HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani, Miami Dade County mayor Carlos Gimenez, and Miami mayor Francis Suarez, Sheikh Faisal highlighted Qatar’s triumph over the economic blockade imposed on the country in June 2017.
“The forum comes under a series of economic challenges witnessed by the state of Qatar following the siege imposed on the country nearly a year ago. However, thanks to the guidance of our wise leadership and public-private partnership, we have been able to overcome the various challenges of the blockade and maintain the normal functioning of all sectors of the economy, thus strengthening Qatar’s position as an important trading centre in the region,” Sheikh Faisal said.
He continued: “The forum highlighted the strength of the Qatari economy, which enables it to overcome various regional and global challenges by implementing a strong strategy to diversify sources of income, and support the private sector to be an active partner in achieving sustainable development in the country, as well as opening up to all countries of the world, under the wise leadership of His Highness the Emir Sheikh Tamim bin Hamad al-Thani, which contributed to the increase of Qatar’s GDP in 2017 by about $220bn compared to $218bn in 2016.”
At the sectoral roundtable meetings, Sheikh Faisal was joined by Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani, QBA board member Sheikh Hamad bin Faisal al-Thani, and QBA members Khalid al-Mannai, Salah al-Jaidah, Saud al-Mana, Sheikh Mohamed bin Faisal al-Thani, Sheikh Turki bin Faisal al-Thani, Sheikh Jabor bin Abdul Rahman al-Thani, and other businessmen.
The delegation met with Greater Miami Convention and Visitors Bureau president and CEO William Talbert and representatives of hospitality and tourism companies in Miami, Florida, including Ernst & Young Global, ESJ Real Estate, and Sky Rise Miami, among other participants.
Representatives from Ernst & Young presented investment opportunities in Miami, particularly in the hospitality industry. The US delegation also explored investment opportunities for American companies in the Qatari market.
The US delegation presented the $650mn ‘Sky Rise Tower’, poised to be the Miami Eiffel Tower, which is expected to be completed in 2022 and will accommodate 2.5mn visitors.
Another project, the $12bn Miami World Centre project will include financial institutions, hotels, administrative offices, residential complexes, and retail stores. In downtown Miami, a mixed-use development project comprising of theme parks and hotels is in the pipeline, according to ESJ Real Estate.
The second roundtable focused on the health sector and medical equipment, where representatives of US companies presented opportunities in health and the transfer of medical expertise and technology to their Qatari counterparts.
A third meeting focused on enhancing co-operation between Qatari and American businessmen in the field of real estate. The Qatari side invited American businessmen to participate in the upcoming Cityscape Doha next week and to review investment opportunities through the exhibition.
In a meeting with Miami Dade County mayor Carlos Gimenez, Sheikh Faisal said the Qatari delegation was keen to learn more about the city and the opportunities available for co-operation, as well as the incentives the city provides to foreign investors.
Sheikh Faisal said Miami ranks as a top one destination for small and medium-sized enterprises, confirming that Miami’s investment environment is attractive to Qatari investors because of income tax exemption, developed education system, friendly community, as well as the distinctive natural climate throughout the year.
HE Sheikh Faisal joins Miami Dade County mayor Carlos Gimenez and other dignitaries during a high-level meeting as part of an ‘Economic Promotional Tour’ of the US.