Qatar has showcased multi-billion dollar investment opportunities to US stakeholders even as HE the Minister of Finance Ali Sherif al-Emadi reiterated the country’s commitment to investing $35bn over a five-year period in the United States.
He said nearly $30bn had already been invested across various sectors in the US, in the past three years.
A Qatari delegation led by al-Emadi met with high-level stakeholders on the sidelines of the Annual Meetings of the International Monetary Fund (IMF) and the World Bank in Washington, DC, to discuss the increase in bilateral trade with the US, and Qatar’s role in combatting terrorism financing.
Discussions were held with the US Secretary of Commerce Wilbur Ross, and key representatives of the US Department of Commerce, The Carlyle Group, the US Department of Treasury’s Office of Terrorism and Financial Intelligence, and the IMF.
He also spoke about the growing relationship between Qatar and leading American companies that spans over decades, including Boeing, GE and others. Al-Emadi said, “Our relationship with the US continues to grow and we are working closely with public and private sector partners to promote our mutual interests.” He added: “The blockade has imposed unprecedented challenges to Qatar, yet we have chosen to focus on the opportunities instead. Qatar remains open for business and we will continue to develop our long-term strategy of pursuing economic diversification.” He concluded: “These testing times have brought us closer to our allies, such as the US, and have encouraged us to push ahead with our goal of guaranteeing stability and prosperity for the people of Qatar and the generations to come.”
Since the blockade came into effect on June 5, the Qatari government has expedited measures to ensure that the market is even more attractive to international investors, the Ministry of Finance said yesterday. Qatar already offers a competitive 10% flat corporate tax rate, no personal income tax, no wealth tax and the highest personal savings rate in the world, it said. According to the Ministry of Finance, measures were also enforced to help ensure that the market becomes self-sufficient across all industries, in the near future and for the long-term, and a contingency plan was rolled out to guarantee that citizens and residents alike were not subject to shortages of any kind. “Several measures have been taken by the government to continue to attract FDI and support the diversification programme,” the Ministry of Finance said.