Doha Bank Hosted a Session for Singapore Business Federation
Doha Bank hosted a session for Singapore Business Federation (SBF) Business Mission to Qatar at Doha Bank HO Tower, Doha Qatar on 15th April 2018. It was attended by key personnel from well-known companies who were part of the Singapore Business Federation and who were interested in exploring business relationships with Qatar.
Dr. R. Seetharaman, Doha Bank CEO gave insight on Qatar economy. He said “Qatar will raise LNG production by 30% to 100mtpa within five to seven years after lifting a moratorium on gas development earlier in 2017. In response to the economic blockade Qatar has emerged strong and has brought various reforms to transform itself into a self-reliant economy. A new law for Public Private Partnership (PPP) businesses in Qatar will provide comfort to the private sector and foreign investors. Qatar 2018 Budget allocations for health, education and transportation reached QR83.5 billion or 41% of total expenditure. The transportation and other infrastructure projects were assigned the largest share in the 2018 budget with allocations of QR42.0 billion, 21% of total expenditure. Sports sector and 2022 FIFA World Cup projects amounted to a total allocation of QR11.2 billion.”
Dr. R. Seetharaman gave insight on Qatar- Singapore bilateral relationships. He said “Singapore gained enhanced access to Qatar for construction services and professional services, such as legal, architectural, engineering, urban planning. The Gulf Cooperation Council – Singapore Free Trade Agreement will provide more investment opportunities in Singapore for mutual benefits. Major Singaporean companies are already working here on infrastructure development in Qatar. There are plenty of areas, including telecommunications, electrical and electronic equipment, petrochemicals, jewellery, machinery and iron and steel-related industries in which Qatari and Singaporean businesses can establish and enhance cooperation to facilitate bilateral trade relations. Qatar’s hospitality market is expected to demonstrate growth as Qatar begins preparations for its FIFA world up.”