Officials of the Qatari Businessmen Association (QBA) and Business France held a meeting in Doha recently to explore the available investment opportunities in Doha and Paris.
During the meeting, Pascal Cagni, the French ambassador for International Investments and chairman of Business France, stressed that France is one of the most important trading partners of the State of Qatar.
The Qatari Businessmen Association and Business France discussed investment opportunities in Paris and Doha one of the most important trading partners of the State of Qatar.
Cagni made the statement in the presence of QBA board members Sheikh Nawaf bin Nasser al-Thani, Sherida al-Kaabi, and Saud al-Mana, as well as French ambassador Jean-Baptiste Faivre.
Also attending the meeting were QBA members Khalid al-Mannai, Sheikh Mohamed bin Faisal al-Thani, Sheikh Faisal bin Fahd al-Thani, Ashraf Abu Issa, Moataz al-Khayat, Abdul Salam Abu Issa, Maqbool Khalfan, Mohamed al-Misnad, Ihsan al-Khiyami, and Dafer Halawa, as well as deputy GM Sarah Abdullah.
The meeting focused on trade, industrial, and investment relations between France and Qatar and ways to develop them. The French side emphasised the keenness of the public and private sectors in France to strengthen relations for the benefit of both countries.
In a presentation, Cagni explained that France was able to overcome the pandemic by investing €100bn to support the French economy and maintain its business climate, as well as in the operational capacity of companies and the competitiveness of France in the European continent as the best attractive hub for foreign investment.
As vice president of Apple International in Europe and the Mena region, Cagni talked about the technology sector and the privileges granted by France to attract major international companies. He called on the French and Qatari private sectors to invest in Paris and Doha, which has prepared a free zone for foreign investment.
Cagni also discussed France’s 2030 vision, which is anchored on technology, healthcare, and the environment by moving towards electric cars and other sectors with innovative technology. He noted that there are about 28,000 foreign companies investing in France, providing 2mn jobs, and contributing 30% of the country’s exports.
Sheikh Nawaf lauded the bilateral relations of both countries and stressed that France is one of the most important strategic partners of Qatar. The number of French companies operating in Qatar stood at 418, including 120 companies with 100% French ownership, 290 companies established in partnership with Qataris, eight companies licensed by the Qatar Financial Centre, and three French representative offices.
He said cooperating with Business France is an important economic step in the distinguished relations between Qatar and France, and an additional building block for the economic relations between the two countries.
Businessman Ashraf Abu Issa said, “There is great interest in the technology sector from the French and Qatari sides, as we seek to cooperate between the two countries and transfer technology to Qatar and invest in small and medium-sized enterprises in the business incubator and free zones and others.”
Abu Issa also noted that there was an agreement to exchange visits between Qatari and French businessmen after the 2022 World Cup.
According to the Planning and Statistics Authority, intra-regional trade between Qatar and France amounted to more than QR6.3bn in 2021, of which QR2.85bn were imported aircraft requirements, textiles, clothing, perfumes, and agricultural products, while Qatar’s exports amounted to nearly QR3.5bn, mostly in the field of gas and energy products.