21 Apr 2018 – 9:42
Raleigh: The accompanying exhibition of the ‘Qatari Economic Tour in the US’ in Raleigh, North Carolina, began yesterday. The two-day event aims to highlight Qatar’s cultural heritage and strong economic potential, in addition to familiarising visitors with the major development projects that are being implemented to achieve Qatar National Vision 2030, including projects related to the 2022 FIFA World Cup.
The exhibition will bring together representatives from major institutions in Qatar, including the Ministry of Economy and Commerce, Supreme Committee for Delivery & Legacy, Qatar Airways, Doha Film Institute and Qatar Foundation along with a number of US companies that have partnered in investment projects with Qatar, such as Occidental Petroleum, Boeing, ExxonMobil and ConocoPhillips.
Through its special pavilion at the exhibition, the Ministry of Economy and Commerce has sought to focus on the advantages of the Qatari economy and to highlight the depth of the strategic partnership between Qatar and the US by providing interactive infographic designs that address the fundamentals of the business environment in Qatar and present the most prominent Qatari investments in the US as well as to present the progress of bilateral relations between the two countries in various fields.
The Doha Film Institute’s pavilion also highlights the foundation’s latest films, awards and decorations along with key information on financing the film and production sector.
The Qatar Foundation for Education, Science and Community Development’s wing presents a range of infographic designs on its programs in education, scientific research and community development, and highlights sustainable cooperation between Qatar and US in education, in view of the presence of six US universities in Qatar.
Meanwhile, the Ministry of Economy and Commerce, in cooperation with US-Qatar Business Council in Raleigh, organised a panel discussion on how to establish and facilitate business and introduce the American business community.
The meeting, held within the framework of the Ministry’s tour in the US, discussed several topics such as how to benefit from the various programs in America, how to cooperate and ways to develop export opportunities and trade with the US, as well as the challenges that Qatari companies can face in America, especially when doing business, and how to deal with these challenges.
Director of Business Development and Investment Promotion Department at the Ministry of Economy and Commerce Abdul Basset Al Ajji, said that the Ministry issued a comprehensive booklet in Arabic and English, containing all important information for investors like registration mechanisms and information on the commercial sectors, and also contains the addresses of all government agencies related to the field of investment.
The booklet is issued on a regular basis, which will facilitate the American and other foreign investors in general to identify the investment environment in Qatar and the available opportunities, incentives and tax exemptions and laws and regulations which promote the entry of foreign investment in Qatar.
Director of International Cooperation, Economic and Trade Agreements Department at the Ministry of Economy and Commerce, Ahmed Ahen, said that a comprehensive guide will be issued in cooperation with the US-Qatar Business Council, Qatar Chamber, the Qatari Businessmen Association and private and government institutions related to this issue, and it will be available on a special website aiming at facilitating the establishment of business in Qatar and presenting investment opportunities for foreign and American investors in particular.
During the session, Executive Director of the US-Qatari Business Council Mohamed Barakat, presented the Council and its establishment since 1996 with the aim of enhancing trade exchange between the two countries and enhancing cooperation between Qatari and US companies, adding that the Council is currently researching and developing its work to keep abreast of the great progress in the strategic relationship between Qatar and the US.
Barakat added that Qatari companies are always looking to understand the US market and important issues in investment and trade and how to deal with issues such as letters of credit and how to send goods and products to Qatar, explaining that the Business Council is working always on how to provide services and facilitate trade exchange between companies at all levels, whether small, medium or large companies.
He pointed out that there is cooperation with US and government institutions to remove any obstacles that can face US companies to work in the Qatari market or establish partnerships with national institutions, and facilitate the issuance of licenses and some of them go on special missions at the expense of the US government to promote trade and increase income, which in turn is reflected positively on the government and increase the tax return.
The Executive Director of the US-Qatari Business Council explained that, through the economic tour and meeting with the delegation members, he learned more about issues of interest to Qatari businessmen and investors, most of which are focused on knowing the investment climate, such as taxes that vary from one city to another, and from one state to another, and identifying some specialized institutions that encourage investment in US, helping foreign investors to overcome tax obstacles for the private sector, and it links investors to the government and informs them about all tax exemptions for foreign investors.