American companies, specifically in Los Angeles, California, stand to gain from the investment opportunities being offered by Qatar in a wide variety of sectors, including manufacturing, sports, logistics, and media, said Qatar’s commercial attaché in the US, Fahad al-Dosari.
Speaking at a virtual discussion hosted by the US-Qatar Business Council (USQBC), the Commercial Attaché Office in the US for the State of Qatar, and the Los Angeles Area Chamber of Commerce, al-Dosari said Qatar has commercial synergies with Los Angeles in the aerospace; biomedical/medical technology; construction, design and engineering; entertainment and tourism; fashion; and finance sectors.
Citing the economic pillar of the Qatar National Vision 2030, which focuses on diversifying the Qatari economy, al-Dosari said Qatar is enhancing efforts to advance its manufacturing industry.
Manufacturing free zones, such as the Airport Free Zone at Ras Bufontas, have been positioned to offer manufacturing companies, ranging from startups and small and medium-sized enterprises (SMEs) to large multinational corporations, access to brand new infrastructure, and specialised logistics services to provide an optimal business environment, he said.
In logistics and distribution, al-Dosari said Qatar Airways operates commercial flights between Los Angeles International Airport in Los Angeles and Hamad International Airport (HIA) in Doha.
“In 2020, Qatar Airways became the world’s largest cargo operator. Similarly, Qatar recently built the Airport Free Zone at Ras Bufontas next to HIA to provide greater access to air transportation and efficient customs processing times,” he said.
Al-Dosari also emphasised that both Qatar and Los Angeles have significant footprints in the sports sector on an international scale.
“Since Qatar won the 2022 FIFA World Cup bid, the country has been investing heavily to grow its sports industry. Qatar’s ambition is to become a global leader in sports and to bring the world together through sustainable sports development,” al-Dosari said, adding that Qatar has hosted more than 500 international sporting events in the past 15 years, across all sports and age groups.
He said Qatar has potential commercial opportunities in the following areas in sports and e-sports: games developers and publishers, players/teams, league operators/content producers, distributors, and brand partners and advertising.
“In the field of gaming/e-sports, Qatar recently launched the Qatar e-sports Wega Global Games. This global e-sports competition aims to develop the country’s competitive environment, whilst also providing greater opportunities for stakeholders in this industry,” he said.
In entertainment and tourism, al-Dosari stressed that Qatar has “a lot to offer” LA-based companies as “entertainment destinations are emerging in Qatar.”
“Qatar’s tourism industry is thriving. Potential areas of collaboration include theme parks and other entertainment venues, including cinemas, sports complexes, and family-friendly restaurants,” al-Dosari pointed out.
Similarly, al-Dosari said the State’s flourishing media industry is another area for collaboration between Qatar and Los Angeles.
On the recent establishment of the Qatar Media City, al-Dosari noted that the film and television industry “is emerging in Qatar,” and the potential areas of collaboration include licensing, production, and distribution.
Al-Dosari also said, “Qatar has a lot to offer Los Angeles companies through business-friendly regulations, logistics, market access, infrastructure, investment incentives, favourable taxation, transparency and high standards, and human capital.”
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