Qatar and Japan to boost private sector cooperation

The private sectors in both Qatar and Japan will further bolster the already deep-rooted economic and trade cooperation currently being enjoyed by both the countries. Both the countries are keenly interested to further strengthen their investment and business cooperation for the advantage of both economies, Qatar Chamber Chairman Sheikh Khalifa bin Jassim Al Thani said in Tokyo, yesterday

Addressing the Qatar-Japanese Business Forum, held in connection with the visit of the Amir H H Sheikh Tamim bin Hamad Al Thani to Japan, Sheikh Khalifa noted  Japan is Qatar’s first trade partner. “Japan’s trade exchange is seeing a rapid growth. It grew from $13.1bn during 2017 to $17bn during 2018 reordering a 23 percent growth.”

Sheikh Khalifa also said that the continuing supply of Qatari LNG to Japan for more than twenty years  emphasized both countries’ firm commitment and mutual confidence.

Japan is an attractive investment destination to the Qatari private sector. Qatari businessmen are interested to recognize the investment opportunities available in Japan and establish more alliances and partnerships with their Japanese counterparts, he said.

QC Chairman said that there are nearly 27 Japanese companies operating in the State of Qatar, 100 percent owned by the Japanese side, while there are 24 companies with Qatari partners working in electrical equipment, petroleum services, water desalination and information technology with an estimated investment of $3bn.

With regard to the siege, Sheikh Khalifa said that it stimulated the private sector to decrease the dependence on imports and increase production to meet needs of the local market.

The country has successfully managed to defeat the siege thanks to the measures adopted by the government including pursuing legislative reforms that contributed to strengthening the national economy competitiveness in line with QNV 2030.

To attract more local and foreign investments, he said, the country has built distinguished infrastructure including economic and logistic zones and provided industrial lands as well as offered facilities that motivate foreign companies to enter into the Qatari market.

Source from: The Peninsula