The ‘Qatar-Italy Roundtable Business Meeting,’ hosted by the Qatar Chamber, underscored the strong and growing business ties betweenQatar and Italy.

Key figures such as Valentino Valentini, Italy’s Deputy Minister of Enterprises and Made in Italy, and Qatar Chamber Chairman Sheikh Khalifa bin Jassim Al Thani, highlighted the mutual ambitions of both nations to serve as key hubs for business and investment.

Also present at the event were Saleh bin Majid Al Khulaifi, Assistant Undersecretary for Industrial Affairs & Business Development at the Ministry of Commerce & Industry, several QC board members, along with businessmen and representatives from companies on both sides.

Speaking at the meeting, Valentini praised Qatar’s significant development, noting that the meeting marked an important step in enhancing the fruitful relations between Qatar and Italy.

He emphasised Italy’s legislative reforms aimed at making Italy a more attractive destination for business and investment, similar to Qatar’s success in this area. The Italian delegation included leading firms from diverse sectors such as energy, healthcare, ICT, infrastructure, and banking, reflecting Italy’s broad interest in fostering business relations with Qatar.

“Qatar and Italy share common interests in trade and investment, aspiring to serve as models in the realm of business and investment. Italy, for its part, is keen to strengthen cooperation relations with Qatar across all fields,” he said.

In his remarks, Sheikh Khalifa highlighted the robust and rapidly growing relations between Qatar and Italy. He noted that their bilateral trade witnessed a remarkable growth of 80 percent in 2023, reaching QR20 billion, compared to QR11.1 billion in 2018, citing Italy as an important and promising trade and economic partner to Qatar.

As for mutual investments, Sheikh Khalifa noted that there are many Italian companies operating in Qatar in various sectors, including building materials, construction machinery and equipment, information technology, trade, services, and other vital sectors.

He also pointed to many Qatari successful investments in Italy in different sectors such as real estate, and hospitality.

The QC chairman emphasised that the Qatari private sector is eager to strengthen cooperation links with its Italian counterpart by establishing trade alliances and long-term partnerships. He also reiterated the Chamber’s support for fostering convergence and cooperation between the business sectors of both nations.

Furthermore, he invited Italian companies to invest in Qatar, highlighting its world-class infrastructure, supportive business environment, and advanced economic legislation, which allows for 100 percent ownership by foreign investors across almost all sectors.

For his part, Saleh bin Majid Al Khulaifi said that Italy is an important partner for Qatar and one of the most important destinations for Qatari investments. He highlighted the existence of numerous agreements and memoranda of understanding signed between the two countries.

Al Khulaifi commended the valuable efforts of Italian companies operating in Qatar, noting that they contributed to supporting the state’s economic diversification plans, in line with the key sectors identified within Qatar National Vision 2030.

He invited Italian investors and companies to benefit from Qatar’s distinguished economic and investment environment, which provides various incentives, and legislations aimed at encouraging foreign investors, businessmen, and company owners.

During the meeting, Maryam Hamad Al Malki, a senior executive of investor relations at the Investment Promotion Agency Qatar, delivered a presentation on Qatar’s investment climate, opportunities, and incentives. She also outlined the procedures for doing business and highlighted the opportunities offered by the free zones for foreign investors.