Qatari market offers excellent business opportunities for Russian companies and startups
The State of Qatar invites enterprises and startups from Russia to boost cooperation. The prospects and opportunities of the Qatari market available for Russian businesses were presented at the webinar “Qatar—Russia Economic Partnership: Avenues of Growth for Russian Companies in Qatar’s Investment Ecosystem”. The Qatari-Russian Center for Cooperation (QRCC) supported the event.
The meeting, which took place on the Roscongress Foundation online platform, brought together representatives of governmental structures and business circles of the two countries.
“We are witnessing a steady positive trend in the development of our economic and investment cooperation. Since 2017, bilateral trade has increased by 240%, and today Qatar is one of the largest investors in the Russian economy. Russia’s investment presence in Qatar is also growing. More than 50 Qatari-Russian jointly owned companies are already successfully operating in various sectors — from finance to cybersecurity to agriculture. We will be happy to welcome new Russian partners and offer them the best conditions for business development”, — said Sheikh Ali Alwaleed Al-Thani, Head of the Investment Promotion Agency of Qatar (IPA Qatar).
The attractiveness of the Qatari market is based on a range of factors. The most important of them is the overall resilience of the Qatari economy, which allows businesses to maintain stable financial performance even in the face of global shocks, such as the coronavirus pandemic or large-scale economic crises. This can be illustrated by the fact that the projected growth of Qatar’s GDP for 2021 is 5%, despite the major difficulties that 2020 brought to all countries.
Apart from that, Qatar enjoys an extensive network of international agreements in the fields of trade and investment, which ensure favorable conditions for partner companies not only in Qatar, but also in the region as a whole. These include customs clearance, double taxation elimination, investment protection and other incentive measures.
Another important aspect is the modern and transparent legislative framework that regulates the activities of foreign companies in Qatar. Also, foreign investors gain access to various funding programs and equity participation in Qatari shareholding companies. Among other advantages there are Qatar’s liberal migration legislation, high labor standards and full protection of foreign workers’ rights, as well as ample opportunities for real estate acquisition in the country.
Qatar is one of the few states in the region to allow up to 100% foreign ownership for businesses. Several large platforms operating in different sectors provide comprehensive assistance to foreign companies in the Qatari market. These include the Investment Promotion Agency of Qatar (IPA Qatar), the Qatar Financial Centre (QFC), the Qatar Free Zones Authority (QFZA) and the Qatar Science & Technology Park (QSTP). Representatives of these organizations elaborated on the ongoing projects and support measures for foreign business during the webinar.
Top managers of Russian enterprises that are currently developing their business in the Qatari market also shared their success stories at the event. The full video of the webinar is available on the Roscongress official website.
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