'Qatar's Economy Can Withstand Any Recession'| MENAFN.COM

Wednesday, 29 March 2023 05:25 GMT

'Qatar's Economy Can Withstand Any Recession'

(MENAFN- Gulf Times) The Qatari economy can withstand any expected recession in the West, whose impact would extend to other parts of the world, President of the US-Qatari Business Council (USQBC) Scott Taylor has affirmed.
Taylor said that with suitable energy prices and a dynamic economy, Qatar is strong enough to withstand the recession that may occur, which also provides a huge opportunity to invest in companies, real estate, or other investments.
Speaking to Qatar News Agency (QNA), he said Qatari investors will be able to invest capital and reap profits through low-cost deals that will bring them a lot of returns when the world gets out of the potential recess.
Taylor pointed out: 'Clearly the LNG expansion is not only a massive driver of the economy for this country, but also for business between the United States and Qatar as well.
The president of USQBC said that there are a lot of lessons learned in this World Cup that benefit Mexico, Canada, and the United States - the host countries of the 2026 World Cup.
Taylor said: 'I think one of the biggest things that we can learn from Qatar is the fact that you illustrated and showcased your culture so well surrounding the World Cup and we could certainly learn from you and learn from that and those conversations are ongoing.”
He stressed that the North American bodies can learn about promoting culture, security, and logistics.
Scott Taylor said there are strategic sectors for the State of Qatar and the US.
He explained: 'When you're looking at sustainability and the green economy, Qatar is well-positioned to help the world's transition.' He added that there is continuing and growing cooperation between Qatar and the US in the energy, defence, and security sectors.
Also, he pointed to the opportunities in the content industry, media, e-sports, and many digital sectors.
Taylor said there is an American interest in investing in Qatar, pointing to the tremendous success achieved in the technology sector, where Microsoft established the first big data centre in Qatar, which is a significant success for Doha and Microsoft.
This success may be the nucleus for attracting more international companies operating in the same field, he explained.
Taylor praised the infrastructure in Qatar, which is capable of attracting major US companies, pointing out that the government was able to create investment entities and establish commercial zones and dynamic platforms, in addition to the appropriate legislation.
The president of USQBC praised the distinguished geographical position of Qatar as a gateway to the East, pointing out that the infrastructure and logistical services will be attractive factors for American companies to invest in Qatar.


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