Doha Bank, SBF – IES hold Business Forum to Promote Qatar-Singapore Economic Cooperation

Doha, 25 May 2015: Doha Bank, in collaboration with the Singapore Business Federation (SBF) and International Enterprise Singapore (IES), hosted a business forum at its headquarters in West Bay yesterday to promote trade and investment relations between Qatar and Singapore and encourage stronger bilateral cooperation across key economic sectors.

The forum was organized in conjunction with a high-level visit from an SBF business delegation. The delegation is in Doha for the first leg of a 6-day visit to Qatar and the UAE aimed at enabling participants to gain first-hand understanding of the overall market dynamics and opportunities in these important Gulf States, increase profile of Singapore businesses operating here and establish useful business and official contacts through its network of associations and chambers, investment promotion agencies and professional services.

Qatari and Singaporean companies from several different industries – including oil and gas, real estate, building materials, education and finance – participated in the business forum.

Addressing the forum, Doha Bank CEO Dr. R. Seetharaman said, “This is the fourth time an SBF delegation is visiting Qatar in recent years, which reflects the strengthening trade and investment relations between our two nations. With Qatar now seeking to further diversify its economy and develop a strong private sector, the Government of Qatar has relaxed business regulations in the country in addition to offering a number of incentives to foreign investors.”

“Singapore is well-positioned to take advantage of the attractive economic opportunities offered by the State of Qatar, particularly now that the GCC-Singapore Free Trade Agreement (GSFTA) has come into force, and we expect this latest visit by the SBF delegation to open new doors of bilateral economic cooperation between Qatar and Singapore which will eventually enable Singaporean companies to play a greater role in Qatar’s development story,” he added.

The Singapore Business Federation has an existing MoU with the Qatar Chamber of Commerce and Industry (QCCI).

The SBF delegation visiting Qatar comprises business leaders and senior representatives from diverse industries including banking and financial services, commodities trading, consultancy, digital media, education, energy, hospitality, automotive, information and communications technology, manufacturing and real estate.