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FDI into Qatar expected to surge: Jaber

FDI into Qatar expected to surge: Jaber

Satyendra Pathak
Doha
In major support to government’s efforts for increasing foreign direct investment (FDI) inflows into Qatar, the second edition of the International Business Delegation (IBD) Summit is all set to be held from April 6 to 9, 2020 with Doha as the host city for the second consecutive year.
Aimed at showcasing Qatar’s investment climate to international investors, over 1,000 delegates from more than 100 cities in North America, South America, Middle East, Africa, East Asia, China, and the Indian subcontinent are expected to participate in the IBD Summit 2020.
A new version of the state-of-the-art web portal with details of the upcoming summit was unveiled to officially launch the second edition of the summit in Doha recently.
Speaking on the occasion, IBD Summit Chairman Yousuf al Jaber said, “It is an honour for Doha to be the host city for IBD summit for the second time. We are expecting record numbers of investment and joint venture deals this time around. With Qatar all set to be the host of the 2022 World Cup, there has never been a better time to explore opportunities locally. More importantly, Doha is increasingly positioning it to be a gateway to international business opportunities, especially focused on Asia and Africa.”
With projects worth billions of dollars to be executed in the coming years, Jaber said, Qatar is an ideal place for international investors to come in and connect with their counterparts in Doha and explore investment, partnership, and business opportunities in the country and abroad.
“Hundreds of millions of dollars of investments are in the pipeline and under discussions following the 2019 edition. This is expected to climb up significantly by the next edition,” he said.
Making Qatar more attractive for international investors is the recent legal and economic reforms as well as the laws on free zones and foreign investments implemented by the government, he said adding that IBD summit will be instrumental in enticing more international companies to set up shops in the country.
Qatar’s free zones would help position the country as a manufacturing hub for the region and other areas abroad, Jaber said adding it would also strengthen the country’s economy and its trade relations with international partners.
“We received an overwhelming response from the last edition of the summit in April 2019 which had over 200 delegates in attendance from over 20 cities. This time we are aiming for 1,000 plus delegates. Our team will hold a series of roadshows in various countries to market the investment potentials available in Qatar. The summit will be an ideal platform for international companies wanting to participate in major projects related to Qatar’s hosting of the FIFA World Cup in 2022, as well as in the Qatar National Vision 2030,” Jaber told Qatar Tribune on the sidelines of the event.
Highlighting the positive impact of FDI growth on Qatar’s business scenario, he said, “The local businesses will benefit a lot from it as there would be transfer of know-how and sharing of modern technologies.”
Qatar already has the needed infrastructure to boost non-hydrocarbon exports to its international trade partners, Jaber said adding there are opportunities galore for setting up services and manufacturing units in sectors like agriculture, building and construction, healthcare, food and beverage (F&B), education and others.
Organised with support from Ministry of Interior, Qatar Chamber, and Qatar’s tourism council, the summit is a joint venture between Mavericks Global Innovations, which runs the international investor, innovator, and influencer network platform Mavericks365 and Doha-based Address Business Management, an end to end management services and holding company.
Speaking on the occasion, Mavericks365 Founder and IBD Director of International Networks Vineet C Nambiar said the summit is aimed at facilitating cross border collaborations and investments across industries through a series of formal and informal engagements.
He said, “What truly distinguishes the IBD Summit is that we will be hosting more than 25 international investor forums across North America, Middle East, Africa, India, and East Asia over the course of the next few months building up to the summit in April 2020. This is a platform to study and participate in investment and partnership opportunities in various cities as well as a means for them to scale their ambitions globally.”
“This time we will be hosting an International Entrepreneurs Award along with a Sustainable Fashion Show. Nominations will be received from our network of international ambassadors in various cities for different categories of business. An independent international advisory board of eminent personalities is being constituted to adjudicate for the same,” IBD Finance Director Shamseer Hamza said.
Singapore-based XPlus has been roped in for event management services. Nishad Kader, a representative of XPlus international, said a summit of this scale and ambition needs world-class execution capabilities and XPlus is proud to bring its next-generation innovative capabilities to make this a massive success.

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