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QNA
Doha
Lord Mayor of the City of London Alderman Charles Bowman has stressed the importance of Qatari investments in the UK, which reached 38.5 billion pounds, representing 70 percent of the new investments announced by Qatar in Britain recently.
In an interview with a local Arabic newspaper published on Sunday, Lord Mayor said discussions are going on with the Qatari side to take the necessary steps and measures to make the Qatari business environment more attractive.
"We are considering to organise events like 'Qatar Day in London'in the coming period, which provides an opportunity to highlight the business climate in London."
Lord Bowman said that his visit to Qatar comes in the framework of strengthening relations between countries and the financial sector in the UK, adding that he had met with Deputy Amir HH Sheikh Abdullah bin Hamad al Thani, Minister of Finance HE Ali Sharif al Emadi, leaders at Qatar Financial Centre, state officials and 10 Qatari bank managers.
He said the discussions during the meetings were open, constructive and positive, and touched on many important issues and ways of enhancing the cooperation in various fields.
Lord Mayor hailed Qatar National Vision 2030, saying that it is very courageous and ambitious vision and stressed the keenness of London on supporting Qatar in the achievement of this vision, especially as Qatar has a capital and a determination to make it a reality and the UK has a lot of knowledge and experience that can help Qatar diversify its economy in several areas.
Lord Bowman described the relations with Doha as strong and noted that the UK is looking to expand cooperation in various economic areas: the reinsurance sector, where London has a mature sector and great expertise; deepening cooperation by achieving Qatar's national goals embodied in Qatar National Vision 2030; the projects of the 2022 World Cup through cooperation with the Qatar Financial Centre and other entities; the development of trade exchanges, investment and economic cooperation; the cooperation in the banking field and in the field of innovation and modernisation in the financial sector where UK has made progress in the field of cybersecurity and Islamic banking; and increasing confidence between the financial sector and customers.
On the differential advantages offered by London to attract the Qatari investors, Lord Bowman noted that there are many features, notably freedom of trade and investment, an attractive investment climate, and being an important economic, educational and cultural centre.
London also has tax advantages and other legislation that encourage foreign investment, he added.
