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Advisory Council discusses draft law on investment of non-Qatari capital

By QLNews

Qatar has in recent times been doing a great job in opening its economy to the world and letting expatriates be a part of its growth story. 

As part of reforms, a new draft law has been proposed to regulate investment of non-Qatari capital in the country’s economic activity.

The weekly Advisory Council meeting, chaired by Speaker HE Ahmed bin Abdullah bin Zaid Al Mahmoud, further discussed this draft law, according to Gulf Times.

The draft law comes within the framework of the State’s economic policy, which is aimed at encouraging investment and attracting foreign investment, the Speaker said, adding that it is expected to have a positive impact on the upward movement of the Qatari economy, according to The Peninsula.

After due discussion, the Council decided to refer the draft law to the Finance and Economic Affairs Committee to study it and submit a report to the Council.

The Advisory Council also reviewed a request for a general discussion on food security. Council members stressed the importance of this issue, especially in light of the unjust siege imposed on the country.

The members said Qatar has achieved self-sufficiency in many products such as vegetables, meat, dates, fish, dairy, poultry and eggs, reported Qatar Tribune.

By kallil1980• 3 months 6 days ago.
kallil1980

Thanks to HH Emir and his team for making the reforms in Qatar's economic policies to attract foreign investors to the country. There were few new Draft Laws passed in cabinet immediately after the declaration of siege by the neighboring countries viz; KSA, UAE & Bahrain etc. in order to strengthen it's economy.

The new draft laws passed were as follows:

1. The first one was regarding issuance of Passport and Permanent Residency to the foreigners subject to some requirements stipulated by law.

2. The second one was regarding the permission for foreigners to buy and sell properties including land & buildings in Qatar.

3. Third one was regarding the 100% ownership for foreigners in any economic and commercial activities in any part of the country.

Basically these three new draft laws which were passed in cabinet several months back have extremely increased the confidence of foreigners who are doing business in Qatar. As foreigners we are expecting these laws to be implemented as soon as possible. Business people always prefer to invest their money and efforts in the countries which offer 100% ownership with opportunities to get Permanent Residency or Passport enabling them to settle down in the chosen country.

The immediate implementation of the above three draft laws will definitely benefit the country in many ways but not limited to the following:

1. More foreign investment.

2. Increase of high net worth individuals population.

3. Increase of well paid employment opportunities.

4. Immediate boosting of real estate sector.

5. Increase of good population having high purchasing power.

6. Finally it will support the growth of all industries and the overall economy of the country.

The question is how soon will these laws be implemented. I believe the sooner these laws implemented, the sooner Qatar will be able to overcome the current siege and teach a lesson to the blockading counties.

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