Undersecretary of the Ministry of Commerce and Industry Sultan bin Rashid Al Khater underlined that there are promising opportunities in the State of Qatar supported by the provision of attractive investment incentives, facilitation and legislation that promote economic openness.
During a panel discussion titled: “Uncharted Territory: Rerouting Trade Strategies and Systems”, within the second day of Qatar Economic Forum 2023, Powered by Bloomberg, he said Qatar has laid the foundation of investment legislation and laws which have evidently contributed to providing a conducive environment for business and investment, as well as establishing high-level infrastructure, service and logistical platforms which promote chances for investors who are willing to invest in Qatar in multiple sectors.
Undersecretary of the Ministry of Commerce and Industry pointed out that Qatar is economically open and looks forward to fostering effective partnerships with its various trade partners, calling on investors to capitalize on the available opportunities and advantages in the local market, noting that Qatar is moving forward to advancing its economic growth by focusing on economic diversity.
He pointed to the importance of cooperation among states pertaining to trade and flexibility in logistic operations and supply chains to build an integrated and inclusive trade future that achieves gains for everyone.
Meanwhile, Minister of Finance and Economic Planning in the Republic of Rwanda Dr. Uzziel Ndagijimana said his country has developed solid ties with the State of Qatar and aspires to further cooperation to utilize the enormous potential in the two countries, pointing out that his country’s leadership is willing to expand trade and tourism exchange with Qatar.
Rwanda is implementing two major projects, the first one is the expansion in aviation sector, especially in partnership between Qatar Airways and RwandAir, along with another major project which is the construction of a new airport, Ndagijimana added.
He pointed out that the new airport will expand link between Rwanda, Africa, and the world, outlining that his country has established a joint investment fund with the State of Qatar dubbed:”Virunga Africa Fund” which became operational through carrying out some investments.
The two countries have also signed the Double Taxation Avoidance Agreement as a vital tool to support investment in the two countries and Rwanda is confident that investment and trade continue to grow in the two countries, he said.
During the panel discussion, the attendees discussed a myriad of themes, including repercussions of the Russian-Ukrainian war, the trade war between the United States and China, trade lanes across borders, supply chain disruption, changing supply strategies, disturbance in the global markets, the multinational companies’ adaptation to a new global order, as well as the best strategies used by states and companies to manage and reduce economic and geopolitical risks, in addition to the long-term impacts of the latest experiences on the global trade’s future.