Qatar to rise non-Qatari ownership limit to 100%

The new law aims at spurring Qatar’s economy

  

Mubasher: A new draft law to be approved by the Qatari cabinet will increase non-Qatari ownership limit to 100% in all sectors, economy and commerce minister Ahmed bin Jassim al-Thani has said.

"This supports foreign investors'entry into the Qatari market through the provision of several incentives, most notably the allocation of land to establish their investment projects, in addition to the possibility of exemption of taxes and customs duties and free transfer of investments within and outside the country," al-Thani explained.

The new law aims at spurring Qatar’s economy, attracting foreign investments, achieving economic diversification, in addition to providing secure foreign investment climate in the country.

The new law will enhance monetary revenues of the world's top exporter of liquefied natural gas, he added.

Early in March 2018, Rashid Al Mansoori, CEO of the Qatar Stock Exchange (QSE), urged all the QSE-listed firms to increase non-Qatari share ownership to 49% in a bid to enhance foreign investment in the Qatari market.

Since 5 June 2017, Qatar has been facing outflows of foreign customers' deposits after four Arab countries led by Saudi Arabia cut their diplomatic ties with the gas-rich state, accusing Qatar of financing terrorism.

Source: Mubasher

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