HE the Minister of Commerce and Industry added that Italian companies play an important role in supporting the development plans and projects of the State, in particular the production of Italian marble and construction machinery and equipment and information technology, trade, services and other vital sectors.
HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari affirmed that the State of Qatar and the Republic of Italy have distinguished and close relations of friendship, which reflected positively on all levels of bilateral co-operation, especially in the trade sector.
HE the Minister pointed out that Italy is the eighth trade partner of the State of Qatar.
The Minister said, in a speech during the third session of the Italian-Arab Business Forum held in Milan, that the volume of trade exchange between the State of Qatar and the Republic of Italy increased by about 14% last year, reaching $3bn, compared to 2017.
The Minister added that the Qatari-Italian trade exchange represents 2.65% of the total foreign trade of the State of Qatar.
HE the Minister noted that the number of Italian companies operating in the country are about 250 companies, including 200 companies.
HE the Minister of Commerce and Industry added that Italian companies play an important role in supporting the development plans and projects of the State, which is mainly based on the construction market, to diversify the activities of its companies working in this area, such as the manufacture of raw materials, in particular the production of Italian marble and construction machinery and equipment and information technology, trade, services and other vital sectors.
In reviewing the economic developments in the country, HE the Minister pointed out that the State of Qatar has for years set a clear national vision that aims to achieve by 2030, one of its objectives to diversify sources of income, which contributed to support all economic sectors, especially the private sector, through the implementation of a set of programmes and policies aimed at enhancing the contribution of this sector to the overall development process.
HE pointed out that the State of Qatar has taken the initiative to develop appropriate laws and administrative regulations that have facilitated the procedures of doing business in the country and provided an attractive environment for foreign direct investments.
In this context, HE the Minister pointed to the recently launched one-window initiative to facilitate the procedures of granting approvals and licences necessary for the establishment of business in the country, as well as the issuance and modernisation of laws governing the investment sector, which allows foreign investors the possibility of 100% ownership in various sectors and economic, commercial and real estate activities.
The Minister stressed the State of Qatar’s keenness to establish an advanced network of free zones and logistics, and industrial units, which will meet all the needs of investors, pointing out that these efforts reflected positively on the macroeconomic of the state.
Minister also noted that the World Bank in its latest report expected that the Qatari economy will grow by about 3.4% by 2021, driven by higher growth in the services sector as the 2022 FIFA World Cup gets closer.
Source: www.gulf-times.com
