Saleh Al-Sharqi, Director General of the Qatar Chamber of Commerce, revealed that there are 618 Saudi companies operating in Qatar, estimating the number of Saudi companies operating in Qatar at 315, with 100% Saudi capital, while the number of Saudi companies with Qatari partners stood at 303, with a total capital of 1.23 billion Qatari riyals.
During a press conference organized yesterday by the Council of Saudi Chambers and the Qatar Chamber of Commerce and Industry at the Council’s headquarters, Saleh Al-Sharqi emphasized that they are working to resolve all obstacles facing Saudi investors in Qatar, explaining that there are certain obstacles facing Saudi investors in Qatar, namely the requirement that a Saudi investor reside in Qatar for at least six months—whether continuously or intermittently—to obtain a real estate residency card, and that without obtaining this card, a Saudi investor cannot engage in any commercial activity in Qatar, as well as the lack of industrial land in the form of plots and spaces. He pledged to resolve these obstacles quickly in the coming period.
The conference addressed the agenda for the "Made in Qatar 2016" exhibition and its promotion in the Kingdom to encourage Saudi businesspeople to participate, noting that industry is the backbone of any developed economy and a pillar of economic development, as industrial development ensures increased added value andhelps meet the local market’s need for goods and services and secure job opportunities. He also noted the attention the Qatari leadership gives to the industrial sector and its efforts to overcome the obstacles it faces.
Al-Sharqi noted that the Qatar Chamber of Commerce has taken it upon itself to organize this exhibition as a platform bringing together 230 Qatari factories, companies, and small and medium-sized enterprises in a single exhibition under one roof, with the aim of promoting Qatari products both domestically and internationally, as well as strengthening public-private partnerships. He noted that the exhibition is the result of fruitful and positive cooperation between the Kingdom and Qatar.
Al-Sharqi explained that the Kingdom is one of Qatar’s most important trading partners among the Gulf Cooperation Council (GCC) countries, with the volume of trade between the two countries reaching 6.9 billion riyals in 2015, of which 1.8 billion Qatari riyals were Qatari exports to the Kingdom and 5.1 billion Qatari riyals were Saudi imports to Qatar.
He predicted that the exhibition, which will be accompanied by an investment forum, would lead to partnerships, deals, and joint projects between businesspeople in both countries, noting that the Kingdom is the first stop for this exhibition, which will travel to several Arab and foreign countries before concluding in China.
