The Investment Promotion Agency of Qatar (Ipaq) and the Roscongress Foundation, with the support of the Qatar Embassy in Russia and Qatar-Russia Project Office signed a co-operation agreement on the exchange of investment opportunities on the sidelines of Doha Forum yesterday.
The agreement, which was signed by Ipaq CEO Sheikh Ali Alwaleed al-Thani and Roscongress Foundation CEO Alexander Stuglev, establishes the general principles and cooperation framework between the two parties for the coordination of joint investment activities.
Ipaq is an investment promotion agency specifically for the state of Qatar, while Roscongress Foundation is a socially-oriented, non-financial Russian development institution and a major organiser of international conventions.
Under the agreement, the entities will establish a working group that would coordinate activities, including the exchange of proposals on feasible investments and business opportunities, and the exchange of proposals on feasible export and trade opportunities, as well as attracting and assisting investors, partners, contractors, and operators to support investment opportunities.
The agreement also underlines priority sectors for joint collaboration and evaluation, such as the banking and insurance, transport and infrastructure, energy, tourism, and sports industries.
Sheikh Ali said, “We are delighted to sign this cooperation agreement with the Roscongress Foundation on the sidelines of the 19th edition of Doha Forum. Since the launch of the Investment Promotion Agency of Qatar in July, we have taken major steps to showcase Qatar’s attractiveness as a hub for foreign direct investment and this agreement further enhances these efforts.
“In addition, Qatar and Russia have enjoyed strong bilateral ties for more than 30 years and with this cooperation agreement, we look forward to building on these ties by working together on mutually beneficial investment opportunities.”
Stuglev said, “The co-operation agreement with the Investment Promotion Agency of Qatar is an important strategic partnership which will be of joint benefit to the Russian Federation and the state of Qatar.”
Fahad bin Mohamed al-Attiyah, ambassador extraordinary and plenipotentiary of the state of Qatar to the Russian Federation, said: “In 2020, Qatar will participate in the leading Russian business summit, St Petersburg International Economic Forum, as a guest state by the invitation of Mr Putin.
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