Doha: The Qatari Businessmen Association (QBA) has formalized three Memoranda of Understanding (MoUs) with “Invest Hong Kong,” the Hong Kong Trade and Development Council, and the Chinese Manufacturers’ Association of the Hong Kong Special Administrative Region of the People’s Republic of China. The agreements were signed in the presence of HE Chief Executive of Hong Kong Special Administrative Region of the People’s Republic of China John Lee, and HE Chairman of QBA Sheikh Faisal bin Qassim Al-Thani.
According to Qatar News Agency, these MoUs are designed to enhance economic, trade, and investment cooperation between the two regions, facilitating investment flows in both directions. Following the signing, HE John Lee extended an invitation to QBA members to visit his country, highlighting that Hong Kong companies are eager to invest in key sectors in Qatar, such as infrastructure, information technology, fintech, and health and biotech technologies. He emphasized that Hong Kong boasts a vast array of successful entrepreneurs in these fields.
HE John Lee also expressed a keen interest in strengthening economic and financial cooperation, aiming to elevate relations to meet shared goals. He acknowledged Qatar as a leading commercial and financial hub in the Middle East, while noting Hong Kong’s status as a significant business center in Asia, complete with facilities to assist companies and investors in capitalizing on available opportunities.
In response, HE Sheikh Faisal bin Qassim Al-Thani remarked that Qatari companies have become significant players in various sectors, showcasing their capabilities through projects like the Qatar World Cup 2022 and other international ventures. He highlighted the potential of Hong Kong’s economy, particularly in services and tourism, and its access to major global markets, including China, a key trading partner for Qatar.
Additionally, HE QBA board member Sheikh Hamad bin Faisal Al-Thani commented on Qatar’s transition towards a knowledge-based economy, which aligns with Hong Kong’s sectors such as financial services, artificial intelligence, logistics, and tourism. This shift, he noted, presents ample opportunities for bilateral collaboration, supported by Qatar’s attractive tax and legislative incentives for foreign investors.
Sheikh Hamad also mentioned that QBA will collaborate with the Hong Kong entities involved in the MoUs to pinpoint specific economic sectors for joint initiatives. This strategic approach aims to reinforce trade and economic relations between Qatar and Hong Kong.