Cabinet okays draft law allowing 100% foreign investment Jan 04, 2018 0 866 12345 Tribune News NetworkDohaThe Cabinet on Wednesday approved a draft law that regulates non-Qatari investments in the economy and referred it to the Advisory Council. The draft law is set to replace Law No. 13 of 2000 on the same issue.Minister of Economy and Commerce HE Sheikh Ahmed bin Jassim bin Mohammed al Thani said the draft law on regulating foreign investment was implemented in accordance with the directives of the Emir HH Sheikh Tamim bin Hamad al Thani on adopting legislations and decrees to facilitate investment.Sheikh Ahmed said the draft law allows 100 percent foreign investment in all sectors of the national economy and it will push forward the pace of economic development and enhance the confidence of investors in the economy.The draft law aims to increase tax revenues, protect foreign and local investors and raise Qatar's status in global economic indicators.The law allows non-Qataris to invest in the fields of bank and insurance companies by a decision from the Cabinet. However, they cannot invest in commercial agencies and/or buying properties. Non-Qatari investors may invest in any other areas specified by a decision from the Council of Ministers.The law stipulates that non-Qatari investors may be allocated the land necessary to set up their investments by way of rent in accordance with the legislation in force in this regard.They may import whatever they need to facilitate their investments, to operate and to expand their projects in accordance with the law.Non-Qatari investment projects may be exempted from income tax in accordance with the procedures and periods stipulated in the Income Tax Law.Non-Qatari investment projects shall be exempted from import duties on machinery and equipment necessary for the establishment of the project.Continued on page 2 f1'eef0 POST A COMMENT RELATED ARTICLES Emir Meets Turkmenistan President’s advisor Jan 04, 2018 0 1233 LNG merger to save QR2 billion a year in operational cost: QP Jan 04, 2018 0 650 Mahaseel Souq to open at Katara today Jan 04, 2018 0 530 Mass pro-government rallies held in Iran Tens of thousands of Iranians have taken to the streets to rally in support of the Iranian government, after six days of anti-establishment nationwide protests. The pro-government demonstrators gathered in at least 10 .. 42% rise in serious aTV-related injuries The number of children and women injured while using all-terrain vehicles (ATVs) is on the rise in the country, according to a new report released by the Hamad Trauma Center's Hamad Injury Prevention Program. The .. Turkey supports political solution to Gulf crisis: Cavusoglu QNA Ankara Turkey will continue to support a political solution to the ongoing Gulf crisis and the mediation undertaken by Kuwait, Turkey's Foreign Minister Mevlut Cavusoglu said on Wednesday. The Turkish FM also ..