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Qatar’s new investment law to attract foreign capital

Qatar’s new investment law to attract foreign capital
The new law aims to attract foreign capital by 100% in all economic and trading fields

Mubasher: Qatar’s Council of Ministers on Wednesday approved the draft law on organizing foreign investment at its first regular meeting of 2018, said Economy and Commerce Minister Ahmed bin Jassim Al-Thani.

The new law aims to attract foreign capital by 100% in all economic and trading fields in a bid to boost foreign capital flow, he added.

It will improve investor confidence in Doha, capitalizing on the government’s high spending on luring foreign investments and increasing tax revenues, Qatar News Agency (QNA) reported, citing the minister as saying.

The new draft law protects both local and the foreign investors from any risks of side agreements, in addition to shoring up Qatar's position in global economic indicators such as the indicator of ease of doing business.

Moreover, the law bans foreign investments in commercial agencies and buying real estate, but it exempts non-Qatari investment projects from customs duties on their imports of machinery and equipment necessary for their establishment.