The Independent Industrialists’ and Businessmen’s Association (MUSIAD), which is based in Istanbul, is keen to help develop and promote the growth of small and medium-sized enterprises (SMEs) in Qatar to attract foreign direct investments (FDI) inflow to Turkey, an official has said.
“We are implementing a number of major projects in a number of countries starting from Turkey, and we have large projects that we are offering to Qatari investors, on top of which is the well-known Istanbul Canal project, and projects in industrial zones,” said MUSIAD president Abdurrahman Kaan.
“In this context, the association has financed a project worth $750mn, and with the completion of its final stages, the total investments will reach about $4bn,” Kaan told reporters in recent meeting in Doha.
Kaan noted that the production and industry sectors are among those that will attract more FDI, including Qatari investments, adding that there is an integrated plan to develop SMEs.
“We have submitted proposals to our Qatari friends to enter this sector, and there is continuous communication between us and through the Investment Office of the Presidency of the Republic of Turkey,” Kaan stressed.
During his visit to Qatar, Kaan said: “We met with a number of Qatari businessmen, and there have been discussions that are expected to bear fruit in the future, including a meeting with businessman Ahmed al-Khalaf to work in the agricultural sector. Projects are expected in the field of food processing and agriculture, and we will form teams that meet during the coming period.”
On investment opportunities, Kaan stressed the importance of investing in Qatar “and taking advantage of the many opportunities” offered by the state to foreign investors, especially after the legal and economic reforms that were implemented by the government, such as permitting 100% foreign ownership of companies across all sectors, workers welfare, and adopting an economic vision to incentivise foreign investors.
“There are also many opportunities in World Cup-related projects and beyond, and we consider the State of Qatar as a business centre and outlet for Turkish businessmen in the region.
“In return, we also want Qatari businessmen to participate in entrepreneurship projects in Turkey, and to invest in small and medium businesses; there are many incentives for Qatari investors,” Kaan pointed out.
Kaan noted that there are “important projects” related to smart cities in Turkey, adding that it is an opportunity being offered to Qatari businessmen. “Other countries will compete in the future through smart cities, and we currently see Doha as the best example of that as a number of cities compete in the region, and we want to transform our cities into global brands,” he added.
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