Tribune News Network
Doha
The Qatari Businessmen Association (QBA) recently hosted Portuguese Minister of Economy Pedro Reis for a high-level meeting aimed at bolstering economic ties between Qatar and Portugal.
The meeting, held in the presence of Ambassador of Portugal to Qatar HE Paulo Neves Pocinho, was part of the minister’s visit to Qatar, which focused on enhancing bilateral relations, particularly in the economic field.
The delegation was warmly received by QBA Chairman Sheikh Faisal bin Qassim Al Thani alongside QBA Board member Saud Omar Al Mana and several esteemed QBA members including Khaled Al Mannai, Salah Al Jaidah, Maqbool Habib Khalfan, Yousef Ibrahim Al Mahmoud, Muhammad Althaf, and QBA Deputy General Manager Sarah Abdullah. The gathering underscored both countries’ commitment to exploring new avenues for economic cooperation and investment.
At the outset of the meeting, Pedro spoke about the substantial economic reforms undertaken by the Portuguese government to enhance the business environment and drive economic growth. He highlighted Portugal’s ongoing efforts to implement comprehensive tax reforms, which include simplifying the tax system and reducing corporate taxes. These reforms aim to attract foreign investments, encourage innovation, and foster entrepreneurship, making Portugal a more competitive destination for international business.
He also detailed Portugal’s strategic focus on attracting Qatari investments, outlining a number of significant projects available for investment across various sectors, including renewable energy, technology, and infrastructure.
Among the highlighted opportunities were plans for establishing a new airport, developing a high-speed train network, privatizing the national airline, and initiating large-scale housing projects.
“These projects represent promising opportunities for partnerships between Qatari and Portuguese companies,” the minister said. “Both parties can benefit from shared expertise and experience, enhancing economic cooperation between the two countries.”
He emphasised that Portugal offers a stable and transparent investment environment, bolstered by attractive incentives for foreign investors. He urged Qatari businessmen to consider these opportunities, expressing hope that such meetings would pave the way for a stronger economic partnership between Qatar and Portugal, benefiting both sides.
Responding to the minister’s presentation, Sheikh Faisal welcomed the prospects of enhanced cooperation and spoke about the dynamic role played by the Qatari private sector in supporting the national economy. He pointed out that the Qatari private sector is highly competitive and operates globally across a range of sectors, including energy, infrastructure, real estate, technology, and finance. These sectors contribute significantly to achieving Qatar’s National Vision and showcase the adaptability and growth potential of Qatari businesses.
Sheikh Faisal expressed particular interest in the large-scale projects proposed by the Portuguese government. He highlighted the potential for Qatari companies to participate in these projects and stressed the importance of easing entry visa procedures for senior staff, enabling them to oversee business progress and project development more effectively.
“Portugal provides a stimulating investment environment characterized by stability and transparency, which makes it an attractive destination for Qatari investors,” Sheikh Faisal noted. He further emphasised that cooperation between the private sectors in both countries could lead to further economic growth and sustainable development.
Recognising the importance of continued dialogue, Sheikh Faisal suggested organizing a Qatari business delegation to visit Portugal to explore more joint investment opportunities and foster closer ties. Such a delegation would help consolidate economic relations between Qatar and Portugal, enabling businesses to better understand each other’s markets and discover new areas of collaboration.
He also highlighted the importance of ongoing communication between Qatari and Portuguese businessmen to ensure a continuous exchange of ideas and expertise. This would help in identifying new investment avenues and maximizing the benefits of bilateral trade and economic relations.
The meeting concluded on a positive note, with both parties expressing their commitment to advancing economic cooperation. Pedro Reis reiterated his hope that the discussions would mark the beginning of a deeper economic partnership, while Sheikh Faisal reaffirmed Qatar’s readiness to explore investment opportunities inPortugal.
As Qatar and Portugal look to the future, the foundations are being laid for a strong and fruitful economic relationship. The shared commitment to fostering a collaborative environment and exploring mutually beneficial opportunities will undoubtedly pave the way for increased bilateral trade, investment, and economic growth, benefiting both countries in the years to come.
