UK companies to explore business prospects in Qatar
Senior officials from the Qatar Financial Centre (QFC) have successfully concluded panel discussions, face-to-face consultations, and networking events with professionals from UK corporations and private firms in London and Manchester.
The event came as part of the QFC’s efforts to address the strong historical relationship between the UK and Qatar, and to help companies looking to grow their businesses in the Middle East.
Qatar is the UK’s third largest export market in the Mena region. In 2016, UK exports to Qatar amounted to nearly QR11.2bn, registering a 21.7% growth compared to 2014. The Qatari government also has more than QR140bn in investments in the UK, including stakes in BAA, Sainsbury’s, Barclays, the London Stock Exchange, Harrods, and The Shard.
Qatar recently announced that it will invest QR23.5bn in the UK economy through various investment funds and relevant parties in Qatar over the next three to five years.
Highlights at the roadshows included presentations from senior QFC representatives, as well as case studies by companies from the UK that currently have operations in Qatar.
Participants also engaged in one-on-one consultation sessions with the QFC’s leading experts, enabling them to gain a better understanding of the business landscape and advantages of operating businesses in Qatar.
As part of its ongoing collaboration with the Qatar Tourism Authority (QTA), the QFC representatives also invited attendees to explore the investment opportunities in Qatar’s tourism sector, and learn about the support provided to investors by the QTA’s Tourism Investment Promotion Unit, which works to facilitate access among investors, local and international talent, and government authorities.
Yousuf Mohamed al-Jaida, QFC Authority CEO, said, “Our roadshows in London and Manchester provided the ideal opportunity for UK investors and businesses to discuss investment opportunities in Qatar and get more acquainted with the support we provide our licensed firms to expand globally. Our discussions have been highly-beneficial and we are confident that they will positively contribute in further enhancing the relations between Qatar and the UK.”
He continued, “Many steps have been taken to open up our economy to foreign firms who can not only bring in investment opportunities to Qatar, but also the knowledge and expertise that are needed for economic diversification.”
Ali al-Fadhala, counsellor of the State of Qatar to the UK, who was the guest of honour at the event, added, “Qatar has profound confidence in the UK market, which has been proven by our ongoing commitment to investing in the region. Qatar has remained as one of the most stable economies in the world and our ambitions for further development and diversification continues to grow. We are committed to continue working with our friends and partners in the UK to strengthen our economies and the growing ties between us.”
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