Inside Investor Forum Starts in Doha

Doha , October 08 (QNA) - Under the patronage of HE Prime Minister and Foreign Minister Sheikh Hamad bin Jassim bin Jabor Al Thani, the Inside Investor Forum kicked off here Monday. HE the Minister of Municipality and Urban Planning Sheikh Abdul Rahman bin Khalifa Al Thani said that the event, was the first of its kind in Qatar, adding that it will provide the opportunity to get acquainted with the investment climate and the available investment opportunities in all economic secors in the state. He said the forum includes 400 delegates not only from GCC and ASEAN states but also from, China, India, Pakistan, Bangladesh, Australia, Europe, the United States and Latin America, viewing the Forum as a basic and significant step for all forms of cooperation. HE the Minister added that the participation reflects the interaction in business interests between two emerging industrial regions namely the GCC and ASEAN states. HE Sheikh Abdul Rahman bin Khalifa Al Thani said that such a cooperation was vital for Qatar in particular, as it begins its strategy of diversifying the Qatari economy, stressing that the forum will present countless investment and cooperation opportunities. For his part, Chairman of the Qatari Businessmen Association HE Sheikh Faisal bin Qassem Al Thani said that Qatari investors have been widening the scope of their investment to extend to the regional and international levels, pointing out that Qatari businessmen are contributing to a fair share in Qatar's foreign investments. In a statement he gave on the sidelines of the forum, the Chairman of the Qatari Businessmen Association, who is one of the strategic partners of the forum, said that more Qatari investments have most recently went to Asia, specially east Asian countries, explaining that trade exchange and trade volume with those countries have increased over the past recent years. He said that today's forum was a good opportunity to meet decision makers and businessmen from Asian countries in order to exchange views on investment opportunities. For his part, Member of the Qatari Businessmen Association HE Sheikh Hamad bin Faisal Al Thani said that the forum will act as a linking point between investment figures in both Asia and the GCC, adding that investment in emerging markets has become just as lucrative as in Western countries. Sheikh Hamad bin Faisal said that he expected the GCC economy to be a major player in global economy by 2020 with a USD 2 trillion economy. He said that it was a mistake to look at the GCC states as only mere producers of oil and gas as they were also a destination for investment particularly in the field of infra-structure. He gave in example with Saudi Arabia, a country that will invest USD400 billion in the field of infra-structure over the course of the next five years. Qatar will invest around USD225 billion in the same period, HE Sheikh Hamad bin Faisal added. He said that trade with Asia was 40% of all of the GCC countries' trade activities. HE Sheikh Hamad bin Faisal said that trade with ASEAN countries increased as GCC investors looked to diversify their investments in light of the slowing western economies. Trade volume between GCC countries and ASEAN countries was USD83 billion, a 25% increase compared to 2009. (END)