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Tribune News Network
Doha
Qatar’s business ecosystem is facilitating the necessary infrastructure for even more Qatari-Turkish joint companies to enter the country’s economy and seize the unmatched opportunities at hand, QFC Authority Chief Executive Officer Yousuf Mohamed Al Jaida said on Wednesday.
Speaking at a webinar entitled ‘Emerging Opportunities: Qatar and Turkey’, Jaida provided an informative overview of Qatar’s economy and the latest developments in the country’s foreign direct investment landscape, and the variety of investment opportunities in Qatar.
Jaida said, “Qatar and Turkey can build on their long-standing relations and grow strategic relations spanning across multiple areas such as business and trade, investment, science, security, people and culture.”
“We believe that Turkey is synonymous with innovation, creativity and commitment. Through the QFC’s unmatched business infrastructure and platform, we aim to attract the most vibrant and innovative Turkish companies in various fields including digital, sports, media, engineering, financial services, and other growing sectors. Already we have welcomed 16 Turkish firms to the QFC platform and this number is growing as more firms look to Qatar to not only expand their operations but to also take advantage of the abundance of opportunities available here,” Jaida said.
In 2019, QFC signed a memorandum of understanding with the Turkish Presidency Finance Office to introduce an initiative to facilitate mutual cross-border business opportunities for companies. This initiative, in addition to the series of benefits offered by the QFC to international firms coming into Qatar facilitates a vital gateway for more Turkish companies to enter the market in Qatar.
The webinar organised by Qatar Financial Centre (QFC) in collaboration with the Istanbul Chamber of Commerce and the Embassy of Turkey in Qatar explored the latest developments in Qatar’s business landscape, highlighting the growing investment opportunities in the country for Turkish companies.
Organised as part of QFC’s flagship #AccessQatar series, speakers shared insightful presentations on the bilateral trade relations between the two countries highlighting the growing opportunities available in Qatar to Turkish firms.
Speaking on the occasion, Ambassador of Turkey in Qatar HE M Mustafa Goksu said, “Turkey and Qatar have a very special and strategic relationship. There is tremendous progress in the relationship over recent years. We have a renewed focus on strengthening our partnership and particularly to overcome the negative effects of COVID-19 pandemic. Qatar and Turkey are good examples of how nations can be well-positioned to serve as role models of international cooperation.”
“Our bilateral trade volume witnessed a remarkable increase from $340 million in 2010 to $2.24 billion in 2019, and we have signed 53 strategic agreements. Today, 535 Turkish – Qatari joint companies are operating in Qatar,” he said.
The envoy said, “Turkish companies enjoy Qatar’s secure, lucrative and transparent business environment. I would like to highlight the important role of the Qatar Financial Centre and other organisations in accommodating the needs of Turkish companies and providing precise guidance.”
He said, “Our partnership in politics and economy reflects itself very well on our cultural relations. While in 2014 Turkey welcomed 29,000 Qataris, last year this number rose to 108, 000 people.”
Istanbul Chamber of Commerce President Sekib Avdagic said, “Turkey and Qatar are two strong and friendly countries. We must further strengthen our solid friendship with comprehensive trade and mutual investment opportunities. Therefore, we must act immediately, and now is the time to enhance our mutual initiatives and cooperation in order to increase the trade volume between our countries to
$5 billion.”
An informative case study of the successful business journey and operations of Havelsan, a Qatar-based Turkish software and systems integrator company that provides global solutions in the defence and informatics sectors were presented by Ozgur Aytan, the company’s country managing director.
The case study highlighted the conducive nature of Qatar’s business ecosystem and how successfully it accommodates companies wishing to set up in the country for a long-term business
endeavour.
The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.
Doha
Qatar’s business ecosystem is facilitating the necessary infrastructure for even more Qatari-Turkish joint companies to enter the country’s economy and seize the unmatched opportunities at hand, QFC Authority Chief Executive Officer Yousuf Mohamed Al Jaida said on Wednesday.
Speaking at a webinar entitled ‘Emerging Opportunities: Qatar and Turkey’, Jaida provided an informative overview of Qatar’s economy and the latest developments in the country’s foreign direct investment landscape, and the variety of investment opportunities in Qatar.
Jaida said, “Qatar and Turkey can build on their long-standing relations and grow strategic relations spanning across multiple areas such as business and trade, investment, science, security, people and culture.”
“We believe that Turkey is synonymous with innovation, creativity and commitment. Through the QFC’s unmatched business infrastructure and platform, we aim to attract the most vibrant and innovative Turkish companies in various fields including digital, sports, media, engineering, financial services, and other growing sectors. Already we have welcomed 16 Turkish firms to the QFC platform and this number is growing as more firms look to Qatar to not only expand their operations but to also take advantage of the abundance of opportunities available here,” Jaida said.
In 2019, QFC signed a memorandum of understanding with the Turkish Presidency Finance Office to introduce an initiative to facilitate mutual cross-border business opportunities for companies. This initiative, in addition to the series of benefits offered by the QFC to international firms coming into Qatar facilitates a vital gateway for more Turkish companies to enter the market in Qatar.
The webinar organised by Qatar Financial Centre (QFC) in collaboration with the Istanbul Chamber of Commerce and the Embassy of Turkey in Qatar explored the latest developments in Qatar’s business landscape, highlighting the growing investment opportunities in the country for Turkish companies.
Organised as part of QFC’s flagship #AccessQatar series, speakers shared insightful presentations on the bilateral trade relations between the two countries highlighting the growing opportunities available in Qatar to Turkish firms.
Speaking on the occasion, Ambassador of Turkey in Qatar HE M Mustafa Goksu said, “Turkey and Qatar have a very special and strategic relationship. There is tremendous progress in the relationship over recent years. We have a renewed focus on strengthening our partnership and particularly to overcome the negative effects of COVID-19 pandemic. Qatar and Turkey are good examples of how nations can be well-positioned to serve as role models of international cooperation.”
“Our bilateral trade volume witnessed a remarkable increase from $340 million in 2010 to $2.24 billion in 2019, and we have signed 53 strategic agreements. Today, 535 Turkish – Qatari joint companies are operating in Qatar,” he said.
The envoy said, “Turkish companies enjoy Qatar’s secure, lucrative and transparent business environment. I would like to highlight the important role of the Qatar Financial Centre and other organisations in accommodating the needs of Turkish companies and providing precise guidance.”
He said, “Our partnership in politics and economy reflects itself very well on our cultural relations. While in 2014 Turkey welcomed 29,000 Qataris, last year this number rose to 108, 000 people.”
Istanbul Chamber of Commerce President Sekib Avdagic said, “Turkey and Qatar are two strong and friendly countries. We must further strengthen our solid friendship with comprehensive trade and mutual investment opportunities. Therefore, we must act immediately, and now is the time to enhance our mutual initiatives and cooperation in order to increase the trade volume between our countries to
$5 billion.”
An informative case study of the successful business journey and operations of Havelsan, a Qatar-based Turkish software and systems integrator company that provides global solutions in the defence and informatics sectors were presented by Ozgur Aytan, the company’s country managing director.
The case study highlighted the conducive nature of Qatar’s business ecosystem and how successfully it accommodates companies wishing to set up in the country for a long-term business
endeavour.
The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.
