Boeing and Invest Qatar Sign MoU to Drive Aerospace Industry Growth
Date
5/16/2024 4:41:03 AM
(MENAFN- Hill & Knowlton) DOHA, Qatar, May 15, 2024 — Boeing [NYSE: BA] and the Investment Promotion Agency Qatar (Invest Qatar) have signed a memorandum of understanding (MoU) at the Qatar Economic Forum to establish a permanent legal entity, Boeing Aerospace Doha LLC, in Qatar.
The new Boeing hub will focus on strengthening the local aerospace sector through research and technology advancements, foster innovation and support for start-ups, drive and develop sustainable aviation, and build a local skilled workforce that can contribute to the sector's long-term success. Boeing’s new entity will complement the work carried out through its existing Qatar branch companies, Boeing Qatar Inc. and Boeing International Corporation.
Kuljit Ghata-Aura, president of Boeing Middle East, Türkiye, Africa and Central Asia, said: "We value the unwavering support from the Government and Invest Qatar in helping us pursue new opportunities in the country. This expanded collaboration will consolidate our position as the leading aerospace partner to Qatar, providing societal and economic benefits in line with Qatar’s third National Development Strategy and the Qatar National Vision 2030."
Sheikh Ali Alwaleed Al-Thani, Chief Executive Officer, Invest Qatar, said: “We are pleased to partner with Boeing, to further deepen their footprint in Qatar. This collaboration underscores the wealth of opportunities Qatar offers to businesses, enabling them to pursue a sustainable growth journey. It is a testament to the country’s business-friendly environment, tailored to accommodate the evolving needs of investors, affirming Qatar’s standing as a growing global business hub."
The long-term collaboration between Boeing and Invest Qatar will further magnify and expedite Boeing’s strategic efforts to contribute to Qatar’s economic diversification and competitiveness. Since 2006, Boeing’s partnership with Qatar has grown, with involvement in all sectors of aerospace and an expanding workforce of over 360 employees.
Qatar Airways operates more than 150 Boeing airplanes, including 123 Boeing passenger airplanes, 29 freighter airplanes; with another 112 on order. Qatar Airways is also one of the launch customers for the Boeing 777X, the world largest and most efficient twin engine jet. In addition to providing support to its customers, Boeing works closely with education, research, and non-profit organizations in Qatar, investing $1.5 million in STEM education and workforce development since 2009.
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