(MENAFN- The Peninsula) QNA
Doha, Qatar: Deputy Minister of Enterprises and Made in Italy HE Valentino Valentini has praised the significant development witnessed by Qatar and its emerging status as an important center for business and investment. He affirmed Italy's commitment to strengthening cooperative relations with Qatar across various fields.
In his speech at the "Qatar-Italy Roundtable Business Meeting" organized by the Ministry of Commerce and industry at the Qatar Chamber (QC), Valentini invited Qatari businessmen to invest in Italy, highlighting his country's ambitions to become a business hub.
Speaking at the meeting, Valentini emphasized that the meeting represented an important step in strengthening the fruitful relations between both countries. He noted that the Italian delegation comprised numerous leading firms and businessmen from various sectors including energy, healthcare, ICT, infrastructure, banking, real estate, and others.
Valentini praised the significant development Qatar is witnessing, indicating that it has become a hub for business and investment.
He also noted Italy's ambition to similarly become a hub for business and investment, citing numerous legislative reforms aimed at streamlining the business environment, particularly in sectors abundant with investment opportunities.
"Qatar and Italy share common interests in trade and investment, aspiring to serve as models in the realm of business and investment. Italy, for its part, is keen to strengthen cooperation relations with Qatar across all fields," he added.
In his remarks, the QC Chairman highlighted the robust and rapidly growing relations between Qatar and Italy. He noted that their bilateral trade witnessed a remarkable growth of 80 percent in 2023, reaching QR 20 billion, compared to QR 11.1 billion in 2018, citing Italy as an important and promising trade and economic partner to Qatar.
As for mutual investments, His Excellency noted that there are many Italian companies operating in Qatar in various sectors, including building materials, construction machinery and equipment, information technology, trade, services, and other vital sectors.
He also pointed to many Qatari successful investments in Italy in different sectors such as real estate, and hospitality.
QC Chairman emphasized that the Qatari private sector is eager to strengthen cooperation links with its Italian counterpart by establishing trade alliances and long-term partnerships. He also reiterated the Chamber's support for fostering convergence and cooperation between the business sectors of both nations.
Furthermore, he invited Italian companies to invest in Qatar, highlighting its world-class infrastructure, supportive business environment, and advanced economic legislation, which allows for 100% ownership by foreign investors across almost all sectors.
For his part, Assistant Undersecretary for Industrial Affairs and Business Development at the Ministry of Commerce and Industry, Saleh bin Majid Al Khulaifi, said that Italy is an important partner for Qatar and one of the most important destinations for Qatari investments. He highlighted the existence of numerous agreements and memoranda of understanding signed between the two countries.
Al Khulaifi commended the valuable efforts of Italian companies operating in Qatar, noting that they contributed to supporting the state's economic diversification plans, in line with the key sectors identified within Qatar National Vision 2030.
He invited Italian investors and companies to benefit from Qatar's distinguished economic and investment environment, which provides various incentives, and legislations aimed at encouraging foreign investors, businessmen, and company owners.
During the meeting, Maryam Hamad Al Malki, a Senior Executive of Investor Relations at the Investment Promotion Agency Qatar, delivered a presentation on Qatar's investment climate, opportunities, and incentives. She also outlined the procedures for doing business and highlighted the opportunities offered by the free zones for foreign investors.
In turn, Roberto Rizzardo, head of FDI Invitalia, reviewed the investment opportunities available in Italy, which is one of the important economies in the G20 Group and a gateway to the European market. He also highlighted the most promising sectors for investment such as chemical industries, green technology, food, electronics, ICT, cyber security, and others.
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