Private sector-led Qatari businesses, particularly in the real estate and hospitality sectors, have seen a steady growth in the US market due to the country’s “excellent” investment climate, Qatari Businessmen Association chairman Sheikh Faisal bin Qassim al-Thani has said.
Speaking yesterday at the “Doing Business in USA Forum” organised by the US embassy, in coordination with the American Chamber of Commerce in Qatar (AmCham) and the QBA, Sheikh Faisal said compared to business activities 10 years ago, many Qatari-owned companies are now established in the US market.
“Compared to business activities 10 years ago, there are now many companies like banks and other enterprises from Qatar poured investments in the US market.
“We want these activities to increase further considering that the US has a strong economy and is considered a safe country, which is why Qatari businessmen do not hesitate to venture into the American market,” Sheikh Faisal explained.
The QBA chairman also stressed that Qatari investments and participation in the US market have shifted from the public sector to the private sector.
“Today, the private sector in Qatar is qualified enough to compete in international markets such as the US, which has a lot of technology and industries that provide business opportunities for Qatari investors.
“With Qatar Airways expanding its routes to eight major cities in the US, transportation has played a substantial role in facilitating ease of doing business in the US and steady growth in investments,” he noted.
He also revealed plans to expand his investments in the US tourism sector, which includes the purchase of 5-star hotels through Al Rayyan Tourism and Investment Company (ARTIC), the international hospitality subsidiary of Al Faisal Holding Company.
Aside from the hospitality sector, Sheikh Faisal said Qatar’s private sector is “looking forward to enhance co-operation with US companies in different fields.”
Sheikh Faisal also assured US investors that despite the global oil crisis, Qatar remains as “a strong and stable economy,” as well as an investment destination for US companies.
“The decline of oil prices in the global market has affected a number of countries but in Qatar, since the country is set to host the FIFA World Cup in 2022, many of the infrastructure projects are still ongoing. The country is not facing any problems because of Qatar’s oil reserves. “The government has taken measures to address the crisis. Our leadership has a vision and is forward thinking, and this has shielded the Qatari market from economic fluctuations,” he said. Page 20