Wednesday 10, May 2017 by Matthew Amlôt

Qatar Financial Centre discuss business opportunities with Asian firms

Senior officials from the Qatar Financial Centre (QFC) successfully concluded panel discussions, face-to-face consultations and networking events with professionals from Asian corporations and private firms in Singapore and Hong Kong as part of the QFC Asia Roadshow 2017.

The event came as part of QFC’s efforts to address the burgeoning trend of Singaporean, Hong Kong and Mainland Chinese companies looking to grow their businesses in the Middle East.

Relations between Singapore/Hong Kong and Qatar have continued to strengthen over the years. Bilateral trade between Singapore and Qatar stood at $45.1 billion in 2015. Qatar and Hong Kong are both situated in the One Belt, One Road region, which has helped strengthen ties between both countries, bilateral trade between both countries stood at $150 million in 2015.

Highlights at the roadshows included presentations from senior QFC representatives as well as case studies by Hong Kong and Singapore companies that currently have operations in Qatar. Participants also engaged in one-on-one consultation sessions with QFC’s leading experts, enabling them to gain a better understanding of the business landscape and advantages of operating businesses in Qatar.

As part of its ongoing collaboration with Qatar Tourism Authority (QTA), QFC representatives also invited attendees to explore the investment opportunities in Qatar’s tourism sector, and learn about the support provided to investors by QTA’s Tourism Investment Promotion Unit, which works to facilitate access among investors, local and international talent, and government authorities.

The Singapore roadshow was attended His Excellency Abdullah Bin Ibrahim Abdulrahman Sultan Al-Hamer, Ambassador of the State of Qatar in Singapore, who was Guest of Honour at the event, he stated, “Singapore and Qatar have an outstanding bilateral relationship, reinforced by High-Level Joint Committee meetings and a free trade agreement with the Gulf Cooperation Council - the first country outside of the Middle East to be a signatory. This bilateral cooperation is evidenced by a number of major infrastructure projects already underway in Doha and elsewhere in Qatar. As preparations for the 2022 FIFA World Cup pick up pace, I am confident that there will be many more opportunities for Singaporean businesses in Qatar, across urban planning, architecture, engineering, information communications technology and other areas in which Singapore excels."

Guest of Honour at the Hong Kong roadshow was His Excellency Sultan Bin Ali Yousif Al-Khater, Counsul General of Qatar in Hong Kong, he added, “Qatar is home to one of the most stable and fastest growing economies in the world, offering many attractive opportunities for investors around the world. Hong Kong and Qatar have a historical friendly relationship and we are committed to continue working with our friends and partners in Hong Kong to continue to develop the Qatari economy and to strengthen the growing ties between the two regions. With the One Road, One Belt initiative I am confident that there will be many more opportunities for Hong Kong businesses in Qatar."

Yousuf Mohamed Al-Jaida, QFC Authority Chief Executive Officer, said, “Our roadshows in both Singapore and Hong Kong provided the ideal opportunity for Asian investors and businesses to discuss investment opportunities in Qatar and get acquainted with the support we provide our firms to expand globally. Our discussions have been very productive and we are confident that they will positively contribute in further enhancing the relations between Qatar and Singapore/Hong Kong.”

The QFC Asia Roadshow 2017 is part of an initiative that seeks to strengthen the bilateral, economic, and commercial cooperation between Asia and Qatar and to explore opportunities for firms to expand in the Middle East through the QFC platform.

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