DOHA: Qatar’s pavilion at the Hannover Fair 2019 in Germany has attracted a large turnout as businessmen, state officials, representatives of the industrial and trade sectors and media professionals, flocked to the 1000-square meter pavilion that the Ministry of Commerce and Industry hosted for the second consecutive year.
The pavilion brought together representatives of the Qatar Chamber, Qatar Financial Centre, Manateq, Qatar Free Zones Authority, the Supreme Committee for Delivery & Legacy, Qatar Railways Company (Qatar Rail), Qatar Development Bank and Qatar Science and Technology Park. Participating private companies also included Qatar Industrial Manufacturing Company (QIMC), Ebn Sina Medical, Qatar Aluminium (Qatalum), Doha Cables, Bin Aman Plastic Industries and Qatar Steel.
Participating entities showcased the most prominent initiatives undertaken by Qatar to attract and stimulate investments in the industrial sector and enhance its strategy of supporting the private sector and offering incentives to attract investors and foreign capital.
Participants also introduced Qatari industries in various sectors and the latest technological developments and advanced equipment being used in the industrial sector, in addition to the investment opportunities and incentives granted to investors, businessmen and entrepreneurs seeking to invest in various industries. These incentives promote domestic and foreign investments and contribute to the economic development of Qatar.
Participants at Qatar’s pavilion expressed their delight to be part of the coveted event. The large number of represented entities reflected Qatar’s advanced position as well as the country’s promising investment opportunities and attractive investment climate for local and foreign companies, participants noted.
The fair provided a platform for Qatari companies to promote their products, access new markets and export their high-quality goods to global markets.
Abdulbasit Talib Al Ajji, Director of the Business Development and Investment Promotion Department at the Ministry of Commerce and Industry, said: “Through Qatar’s pavilion, the Ministry aims to showcase the key characteristics that position Qatar as an attractive economic environment for foreign investments as well as the incentives and legislations endorsed by the state to support the private sector, which would result in growing foreign direct investment and attract an additional number of German companies to the Qatari market.”
For his part, Ali Sultan Al Kuwari of QDB said the bank’s participation in the fair falls in line with its efforts to promote local industries and provide clients access to international markets, which will bolster Qatari exports and contribute to the accomplishment of the Qatar National Vision 2030.
Manateq’s Director of Business Development Adel Wali said that Manateq, through its participation in the fair, aims to promote investment opportunities in industrial, logistics and economic zones. These areas are strategically located across the country and are home to high-quality infrastructure that enable investors to set up businesses and companies in a growth-oriented and prosperous environment.
Abdulla Al Naimi, Director of Corporate Government Relations at the Qatar Science and Technology Park (Qatar Foundation) said QSTP has sought to become a global hub for research, energy, environment, technology and education since its establishment in 2009.
Since then, QSTP has attracted a large number of companies thanks to the incentives it offers including tax and customs exemptions as well as its advanced legislative framework, which streamline services provided to governmental and non-governmental agencies, Al Naimi said.
Mohammed Al Mohannadi, of Qatar Chamber, which is being represented at Qatar’s pavilion for the second consecutive year, said the Chamber is seeking to secure new partnerships and joint ventures.
Source from: The Peninsula