He was virtually addressing the 27th edition of the Partnership Summit 2021, themed ‘Partnering for Building a New World: Growth, Competitiveness, Sustainability, Technology’.
The three-day summit until December 15 was inaugurated by India’s Minister of Commerce and Industry Piyush Goyal via video conferencing.
In his address, al-Khater praised the “close relations” between Qatar and India, which are founded on solid historical roots.
Al-Khater said Qatar is home to about 55 companies wholly-owned by the Indian side operating in the Qatari market, and more than 15,000 companies jointly-owned by the Qatari and Indian sides.
Moreover, Qatar has been keen to invest in the economies of its strategic partners, especially India, al- Khater pointed out.
On the repercussions of the Covid-19 pandemic, he highlighted the “preventive and precautionary” measures adopted by Qatar to increase the resilience of its economy.
In this regard, the undersecretary referred to the World Bank’s latest estimate that the Qatari economy would grow by 3% during this year, rising to 4.1% next year and 4.5% in 2023.
In terms of Qatar’s investment environment, al-Khater explained that the country “had adopted a tailored approach” over the years with the aim of stimulating foreign direct investment, by devising new laws and amending existing legislation in aims at contributing to the development and progressing of the business environment.
The establishment of the Investment Promotion Agency Qatar (IPA) has been one of the most prominent developments in this regard, al-Khater said.
IPA contributes to strengthening an integrated ecosystem that would support investors throughout the process of establishing their businesses, starting from the exploration and setup to expansion with the aim to achieve their long-term objectives.
Al-Khater said Qatar has been providing promising investment opportunities in many vital sectors. The country has also managed to diversify local and global supply chains rapidly over the past few years, and this has, in turn, contributed to enhancing Qatar’s economic openness to the world, and consolidating the strength and diversity of its national economy.
Al-Khater invited Indian businessmen and the private sector to benefit from the incentives and investment opportunities available in Qatar to establish joint investment projects “that would serve the development orientations of the two countries, and pave the way for the Qatari and Indian private sector to expand into new markets in the region.”
He also expressed his aspiration to consolidate the bonds of bilateral cooperation between the two nations by diversifying existing partnerships and establishing new ones that would contribute to shaping the two countries’ future visions, especially in the fields of technology and innovation.
The Partnership Summit 2021 features dialogue sessions that highlight several key issues and discuss appropriate solutions to address them, including geopolitical and strategic developments, multilateralism, international trade, economics, finance, investments, technology problems, social and cultural aspects, sustainability and ways to enhance cooperation in terms of healthcare.
The summit has had 26 previous sessions, witnessing the participation of a number of ministers, senior officials, decision makers, business leaders, political leaders, investment organisations, investors and industry owners.
