Speaker of Qatar Chamber urges Spanish companies to invest in Qatar

Speaker of the Qatar Chamber, Sheikh Khalifa bin Jassim al-Thani, said that Qatar and Spain enjoy close relations at all levels, especially on economic and commercial aspects, noting that their bilateral trade exchanges have reached $1.2 billion last year compared to $820 million in 2020, an increase of 46%.

He was speaking at the Qatar-Spain Business Forum held on the sidelines of His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s visit to Spain.
Sheikh Khalifa called on the private sector on both sides to benefit from the “enormous potential” the two countries possess to build business partnerships and alliances that contribute to the development of their trade exchanges.
He also highlighted the chamber’s support for the creation of business partnerships, which lead to establishing more joint investments, whether in Qatar or Spain. There are around 50 Spanish companies operating in Qatar in various sectors such as trade, contracting, services, furniture and consultancy.
“Spain is one of the most important destinations for Qatari investment. Qatar invests heavily in Spain and has many successful investments in many sectors such as real estate, financial services and energy,” he said.
The Speaker of the Chamber also indicated that the Qatari market welcomes more Spanish companies willing to invest in Qatar, saying that Qatar offers world-class infrastructure, an attractive legislative framework and numerous investment opportunities in all areas. sectors.
“The Qatari market is promising and attractive. There are a multitude of sectors in which Spanish companies can invest and benefit from the incentives offered by Law No. 1 of 2019, regulating the investment of non-Qatari capital in economic activity,” said Sheikh Khalifa.
Highlighting the investment incentives given by the law to the non-Qatari investor, he said it allows 100% ownership for foreign investors in most sectors and streamlines the allocation of land to a non-Qatari investor. Qatari to establish its investment project.
It also allows the non-Qatari investor to import equipment needed to establish, operate and develop their investment project and provides exemption from income tax and customs duties on imports of machinery and equipment. equipment necessary for their establishment.
Sheikh Khalifa invited Spanish companies to invest in Qatar, which offers significant foreign investment opportunities in sectors such as food security, education, health, tourism, sports, infrastructure and logistics, as well as other opportunities offered by economy, logistics and gratuity. areas.