(MENAFN- QNA) HE Qatar's Ambassador to the United States Mohammed Jaham Al Kuwari has stressed that the State of Qatar is seeking to diversify its national economy by attracting foreign investments and developing relations of cooperation with the private sector.
In a speech before the Business Council for International Understanding in New York attended by senior executives in US companies last night, HE the Ambassador said that Qatar is seeking to build a knowledge-based economy rather than relying on the exports of liquefied natural gas.
HE noted to the main objectives of Qatar in the field of economy, which is building a sustainable national economy and playing a leading role in regional development and economic integration in the region, as well as strengthening the economic position of Qatar internationally and building strong partnerships with the private sector around the world.
Speaking about the local economy, he stressed that the Qatari government is making unremitting efforts to improve the business climate in order to encourage local and foreign entrepreneurs to invest in the Qatari market, pointing out that the new law which regulates the partnerships between the private and public sectors will help in achieving this goal.
HE Ambassador Al Kuwari added that Qatari authorities have expressed their willingness to provide incentives for investing companies such as customs duty exemption on exports and taxes for a specific period of time.
HE Al Kuwari made clear that Qatar's investment portfolio in the Middle East and North Africa is diverse and includes different sectors, stressing that the Qatari investments are non-political. He also expressed Qatar's desire to expand its investments in the region.
He said that Qatar plays an active role in the field of investment in order to strengthen its global economic role, pointing out that Qatar is seeking to expand its investments to include the United States, revealing the country's aspiration to make new investments in the sectors of infrastructure and energy.
He also expressed the willingness of the State of Qatar to launch projects in collaboration with private sector companies in the emerging countries, announcing at the same time Qatar's desire to have foreign investments in its markets.
At the end of his speech, HE Qatar's Ambassador to the United States Mohammed Jaham Al Kuwari said that as part of the ongoing preparations for the FIFA 2022 World Cup, Qatar allocated as much as $205 billion to develop the infrastructure, particularly transport, electricity and water and also the services sector to receive gusts who will attend the World Cup matches, adding that Qatar has varied and many investment possibilities, calling in this context the international companies to open offices in Doha.
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