Qatar and Argentina have discussed investment opportunities during the ‘Argentine-Qatar Business Forum’ held yesterday, according to a statement from Qatar Businessmen Association (QBA), which participated in the event.
The two parties, led by HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani and Argentina Vice-President Gabriela Michetti, also delved on potential cooperation in several sectors, the QBA said.
During the meeting, the vice-president said the Argentinian government is working on a law to promote Public-Private Partnerships (PPPs), which aims to increase private sector participation in a variety of projects across all sectors. The law is expected to be fully implemented by early 2017.
Michetti said Argentina has strong fundamentals to become a regional economic engine, being a diversified economy and the third largest economy in Latin America in terms of GDP with an estimated $586bn.
Argentina also has vast availability of natural resources, being the eighth largest country in the world in terms of land area with 53% agricultural land, as well as abundant oil and gas as well as mineral reserves, in addition to food, water, and renewable energy resources, she said.
The vice-president also noted that Argentina offers investment opportunities of more than $250bn in several sectors, including infrastructure ($135bn), energy and mining ($85bn), agriculture ($25bn), manufacturing ($5bn), and services ($5bn).
The Argentinian delegation presented the different reforms and incentives for foreign investment, including the removal of export taxes and repatriation restrictions, providing a government e-Platform for tenders and public accounts and the establishment of the Argentina Investment and Trade Promotion Agency.
QBA officials, led by chairman Sheikh Faisal bin Qassim al-Thani, attended the meeting, together with board members Sheikh Hamad bin Faisal al-Thani, Sheikh Nawaf bin Nasser al-Thani, and Sherida al-Kaabi, as well as QBA member Ibrahim al-Jaidah.
Qatar Chamber vice-chairman Mohamed bin Towar al-Kuwari and board members Sheikh Hamad bin Ahmed bin Abdullah al-Thani and Rashid bin Nasser al-Kaabi were also present, besides International Cooperation and Economic and Trade Agreements director Ahmed Ahen, Woqod chairman Sheikh Saoud bin Abdulrahman al-Thani, and Hassad Food consultant Hamad Saad al-Saad.