The US-based Green Boom, a leading US-based manufacturer of bio-degradable absorbents, is all set to establish manufacturing plant and regional distribution centre in Qatar to serve the wider Middle East, North Africa and India.
In this regard, the Investment Promotion Agency Qatar (IPA Qatar) has signed a memorandum of understanding (MoU) with Green Boom on the sidelines of second Qatar Economic Forum in Doha, published by Bloomberg.
IPA Qatar also signed a MoU with PricewaterhouseCoopers (PwC) on the sidelines. Both the pacts seek to create additional jobs in the country.
The MoU with Green Boom, and PwC, a global leader in professional business services, will enable these leading international companies to deepen their presence in Qatar, creating over 200 new jobs and several major investment, development and training projects.
IPA Qatar’s partnership with Green Boom will facilitate the introduction of the company’s green cutting-edge technologies to the Qatari market through the setting up of a manufacturing plant and regional distribution centre to serve the Middle East, North Africa and India.
In addition to introducing new technologies and accelerating innovative manufacturing in Qatar, the partnership also entails fostering local talent and creating approximately 100 new jobs.
The MoU signed between IPA Qatar and PwC sets the framework for collaboration on promoting Qatar to global investors through joint marketing activities, exchanging knowledge and best practices on foreign direct investment promotion and attraction, and facilitating the expansion of PwC’s team and operations in Qatar creating approximately 100 new jobs.
“These two new partnerships further cement Qatar’s growing reputation as a thriving and supportive international business hub and are testament to the country’s unwavering commitment towards developing a sustainable, knowledge-based economy. IPA Qatar is proud to partner with these two global leaders in their fields and we look forward to supporting their operations in Qatar and working closely with them to further develop Qatar’s rapidly growing economy,” said Sheikh Ali Alwaleed al-Thani, chief executive, IPA Qatar.
Sudhir Sharma, co-founder and chief executive, Green Boom, said it is excited to take this step towards creating a presence in the Middle East where its innovative products will make a meaningful impact protecting the environment. "The support of IPA Qatar is crucial to our plans," he added.
Bassam Hajhamad, Qatar Country senior partner at PwC Middle East, said it has played an integral role in building trust and solving its clients' most important problems.
"This milestone agreement is a testament of our strengthening partnership between our two organisations and our shared commitment towards investing and partnering with local Qatari businesses in supporting them achieve local and global growth,” he added.
Strategically located at the gateway between East and West, Qatar represents a dynamic launch-pad for businesses to engage customers across the World, having strong connections to markets in Africa and Asia, and investment protection ties with many countries around the world, including the European Union and China.
As the custodian of the Invest Qatar brand, IPA Qatar acts as a gateway to all investment solutions in Qatar, representing the single point of contact on a national level to network with international organisations, offering them world class support to set up their businesses in Qatar.
Since its inception, IPA Qatar has been actively engaging with local, regional, and international business communities, embarking on significant partnerships.