The Qatar Stock Exchange has urged German companies to take advantage of the changed investment scenario in the country, especially in view of liberalising foreign investments up to 100% in certain sectors.
This was conveyed to them by the QSE chief executive Rashid bin Ali al-Mansoori at the recently concluded Qatar German Business and Investment Forum in Berlin.
The bourse hopes that the forum will contribute to the promotion and showcasing of Qatari listed companies, and the promising investment opportunities offered to foreign investors taking advantage of the recent regulatory improvements permitting foreign investors to own shares in the Qatari market with limits up to 100% in some companies.
The potential benefits of the new foreign investment rules include provisions for foreign investors to invest in banks and insurance through a decision of the cabinet, exemption from income tax and customs duties and that foreign investments are not subject to expropriation, according to Ernst and Young, a global consultant.
The Ministry of Economy and Commerce (MEC) had stated that the revision to the existing laws is meant to attract foreign capital in all sectors of the national economy. The changes would also facilitate investors’ entry into the market and increase confidence in investment security.
The draft law is intended to attract foreign capital inflows; accelerate development in all economic and commercial activities; and achieve economic diversification in accordance with the Qatar National Vision 2030.
Through its active participation in the forum, the QSE has sought to introduce QSE to the German investment community and promote the progress achieved by the bourse, highest disclosure and transparency levels, profitability of listed companies, and the upgrade to emerging market in various global indices such as MSCI and FTSE, al-Mansoori said.
Ever since the upgrade, the QSE has witnessed increasing interests from foreign fund houses. Unperturbed by the blockade, more than 50 international investment portfolios opened their accounts on the QSE, where the investors’ confidence is back with much vigour, especially after the fourth quarter of 2017.
The sentiments are high not only owing to the growing confidence of institutional investors in the country but also due to the attractiveness of the bourse, according to sources.
During the last one year, the QSE had undertaken roadshows to the US, UK, Europe and Asia in order to tap international financial powerhouses.
The QSE is believed to have received more than 140 investor applications from new foreign investment portfolios, reflecting the growing interest of global financial entities in the bourse.
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