(MENAFN- Gulf Times)
The State of Colorado and the State of Qatar share a slew of investment opportunities as valuable international business partners in a wide range of sectors, according to the US-Qatar Business Council (USQBC).
Only recently, officials of USQBC, Denver Metro Chamber of Commerce, and World Trade Centre Denver, collaborated on a business visit to Denver, Colorado to engage with key policy makers and the local business community to expand and enhance economic partnerships between Qatar and Colorado.
During the business visit, Qatar's commercial attaché to the US Fahad al-Dosari and USQBC managing director and treasurer of the board of directors Mohamed Barakat met separately with Dianne Primavera, Lieutenant Governor of Colorado, and Michael Hancock, Mayor of Denver, to discuss enhancing business ties.
Upon the occasion of the event, Rashid al-Deheimi, consul general of the State of Qatar, said:“Qatar sees many opportunities to further increase bilateral business and investment opportunities with Colorado. This event illuminated the many areas where we can enhance commercial partnerships between Colorado and Qatar, and we look forward to furthering these discussions.”
Primavera said:“Colorado's economy is building back stronger so there is tremendous opportunity, across a variety of industries, to expand our international reach for increased commercial partnerships between our two communities.”
Hancock added:“These exchanges present opportunities for increased bilateral trade and investment in synergistic industries that Denver and Qatar share, from technology and agriculture to professional services, cleantech, smart cities, and many more. We also see this as another indicator that Denver's reputation as a thriving global city and international market continues to grow.”
During a business seminar hosted at the Denver Metro Chamber of Commerce, participants were able to network, learn, and explore business opportunities between Colorado and Qatar.
The event included several presentations. Al-Dosari presented on Qatar's attractive economic environment, while Barakat discussed the strength of the US-Qatar business relationship.
“The State of Qatar is committed to expanding the economic partnership with Colorado. We look forward to further conversations on how our business communities can work together in areas, such as manufacturing, agriculture, logistics, and infrastructure and engineering,” said al-Dosari.
Barakat added:“Colorado and Qatar have already shared a flourishing trade relationship, which is evidenced by Colorado having exported $11.97bn worth of goods to Qatar in 2019. This visit demonstrates the commitment both sides have to increasing investment and commercial ties across their many overlapping industries.”
There is significant overlap between key industries in Qatar and Colorado, including manufacturing, defence, financial services, energy, infrastructure, transportation, logistics, and technology. Colorado ranks in the top 10 for solar energy jobs and has the fourth highest concentration of tech jobs in the country, both of which are significant areas of interest for Qatar's expanding economy.
“Colorado companies are some of the nation's best and true leaders in their respective industries. We are proud to welcome organisations like the US-Qatar Business Council to our community to build relationships and share opportunities,” said Denver Metro Chamber of Commerce president and CEO J J Ament.
Karen Gerwitz, president of World Trade Centre Denver, said:“We look forward to many new partnerships and commercial opportunities between the State of Qatar and the State of Colorado. Both Qatar and the US are some of the best places in the world for business, and we see many opportunities for Colorado companies in Qatar and welcome Qatari investment in Colorado.”
Denver is home to one of the largest American IT companies, Palantir Technologies, which specialises in Big Data Analytics and already has strong ties to Qatar. The company recently relocated its headquarters to Denver, which reinforces Denver's position as a leading technology hub in the country.
Virtual session highlights Qatar's investment opportunities, incentives
Doha Venture Capital (DVC) CEO Mohamed al-Abdulla and Qatar Free Zones Authority (QFZA) Business Development manager Hamad al-Mohannadi delivered presentations on recent developments and incentives for foreign investors in Qatar Free Zones, as well as DVC's strategic investment priorities during a special virtual session held in collaboration with Colorado Smart Cities Alliance and Colorado Cleantech Industry Association.
The virtual session highlighted a seminar that was part of a recent business visit to Denver, Colorado under the collaborative efforts of the US-Qatar Business Council (USQBC), Denver Metro Chamber of Commerce, and World Trade Centre Denver.
Al-Mohannadi said:“Qatar offers investors a package of incentives that include benefiting from trade ties, bilateral investment protection, tax and free trade agreements, right to properties ownership, and labour laws that give foreign companies a competitive advantage.”
He added:“In addition, Qatar Free Zones Authority offers attractive investment benefits to registered companies, such as tax exemptions, exceptional services and modern facilities, and partnership opportunities with large companies in the country to maximise production benefits.”
Qatar Free Zones are designed to provide investors with a global competitive advantage across various key sectors, in addition to providing a business-friendly environment and world-class services that contribute to enhancing the financial and operational performance of companies.
The State of Qatar is also an increasingly large investor in the US having pledged over $45bn in investment over the coming years with key investments already having been made across multiple sectors, including oil and gas, financial technology, real estate, food production, and hospitality, among others. Last updated: January 28 2022 11:07 PM
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