Author: OBG Admin

Xi Jinping-President of China

Qatar among GCC countries investing in Africa

Posted OBG AdminPosted in Uncategorized

The push amongst GCC states to invest in Africa came about in earnest following the 2007-08 global food price crisis, and in those days targeted agricultural land and strategic commodity production. Agribusiness, sovereign wealth funds and other agri-investment vehicles were the main players at the time. Primarily state-led, the investments at that time centred on framework agreements with the host market, guaranteeing purchases and providing subsidised credit. Fast forward to 2015, and Dubai’s Chamber of Commerce in October 2014 noted that Gulf entities had contributed more than $30bn to African infrastructure development over the previous 10 years, a substantial figure when one considers the region’s

Pham Hong Hai-CEO-HSBC Vietnam

Qatar on friendly terms with GCC and Asia

Posted OBG AdminPosted in Uncategorized

Trade relations between the GCC and Asian economies have been growing steadily for some time now. In 2014 Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), announced it would invest between $15bn and $20bn over the next five years in Asia. While there are risks associated with Asian markets, the GCC as a bloc is deepening its commitment to the region. This is signalled by a number of potential trade agreements, increased diplomatic engagement, and the possibility of new political and security arrangements. Free Trade Agreements In September 2013 the free trade agreement (FTA) between the GCC and Singapore, the first between the bloc

Stuart Tait-Regional Head of Commercial Banking-Asia Pacific

Trade with Asia grows as Qatar looks east

Posted OBG AdminPosted in Uncategorized

Following a difficult period for the international shipping market, in 2012 the container route from Shanghai to the Gulf through Dubai saw the second-highest rate of freight growth in the entire Asian region. This was part of an emerging trend of the maturation of GCCAsia trade. A relationship that was once just based on energy demand is diversifying and the GCC is seen as a viable market for Asian goods and investment, a key transit point – given its developed infrastructure – for the fast-growing markets of Africa, and a high-quality producer of goods and services in its own right. Shifting Patterns The change in

Emmanuel Macron-President of France

Qatar’s new financial management systems enhance on-target spending

Posted OBG AdminPosted in Uncategorized

  In keeping with the IMF’s recommendations, Qatar has moved to introduce a medium-term focus to its budget process, which is expected to help protect government spending from revenue volatility. These reforms have become especially pertinent, as oil prices plunged by 50% between June 2014 and early 2015. With the state now moving to plan its budget in three-year increments, planning to utilise the IMF-recommended Government Finance Statistics Manual 2001 (GFSM) as the foundation of its budget forecasting, with plans to roll out an interactive Government Finance Management Information System (GFMIS), reforms to fiscal planning and record-keeping are expected to help the state reduce its

David Gledhill-CEO-Port of Salalah

Qatar supports entrepreneurs and start-ups

Posted OBG AdminPosted in Uncategorized

  The Qatari government has increasingly shifted its focus to small and medium-sized enterprises (SMEs) and start-ups as it moves to expand economic diversification and non-oil growth in the state. Start-ups and entrepreneurs will benefit as a result, with the state launching new support mechanisms for the sector, including the recently established Qatar Business Incubation Centre (QBIC), the largest mixed-use incubator facility in the MENA region. Offering a series of targeted training programmes, facilities and financial support, the 20,000-sq-metre QBIC will join existing programmes offered by various stakeholders and government entities in nurturing growth through provision of facilities, training, low- or zero-interest loans and mentorship.

Ahmed Zaki Abdeen-Chairman-New Administrative Capital for Urban Development

Qatar implements new reforms to labour rights

Posted OBG AdminPosted in Uncategorized

  Qatar, like many Gulf nations, has seen its labour requirements soar in the wake of rapid economic development and a spate of construction and infrastructure projects. With less than 300,000 Qataris living in a country of some 2.22m people, the nation’s labour force is dominated by expatriate workers, the majority of whom are from Asia. Incomes earned in Qatar represent a critical channel for wealth redistribution, and benefit thousands of families, although human rights and labour law issues have posed a challenge, both for workers and the state. With the 2022 FIFA World Cup throwing these issues into the spotlight, Qatar has become the

George Richani-CEO-Al Ahli Bank of Kuwait

Government initiatives in Qatar encourage investment in a range of sectors

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Although total foreign direct investment (FDI) inflows to Qatar declined in 2013, foreign investment is thriving in Qatari industry, representing over half of all investment in the sector in 2014. As construction activity ramps up in the state, FDI in the industrial sector is expected to expand further on the back of planned industrial zones, incentives for investors in high-priority sectors and state-sanctioned lending provided by Qatar Development Bank (QDB), which has seen funding for a host of new domestic projects soar in recent years. GROWTH: From a regional perspective, the “World Investment Report 2014” by the UN Conference on Trade and Development (UNCTAD) shows

U Nyo Myint-Vice-Chairman-Myanmar Insurance Association

Strong economic fundamentals in Qatar bolster many sectors

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  With oil prices bouncing along the bottom of the charts, and most forecasts suggesting they are likely to stay well submerged for some time, Qatar’s infrastructure project pipeline may now be coming on-stream at a lessthan-opportune time, although the state’s solid economic fundamentals and rapid non-oil growth will help mitigate the worst of the near-term oil shocks, and should keep expansion strong over the mid-term. Ventures ONSITE, a regional construction project tracking system, estimates Qatar’s infrastructure programme is worth some $280.2bn, with $136.48bn earmarked for buildings, $103.42bn for infrastructure and $40.29bn for energy development. However, for the 2014/15 fiscal year, Qatar had assumed a

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Qatar seeks to diversify its economy by supporting SMEs

Posted OBG AdminPosted in Uncategorized

  It is easy to discern the fresh momentum in the drive to boost the private sector and, more particularly, small and medium-sized enterprises (SMEs) in Qatar. A number of recent developments indicate the government’s determination to create a more balanced economy for the hydrocarbons-rich state: the appointment in January 2015 of the minister of economy and commerce, Sheikh Ahmed bin Jassim bin Mohamed Al Thani, as the new chairman of the Qatar Stock Exchange – integrating the stock market more closely with the ministry; the launch of a new $27.4m Qatar Business Incubation Centre – reportedly the largest mixed-business incubator in the MENA region;

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Qatar’s financial sector improves its capacity to handle risk

Posted OBG AdminPosted in Uncategorized

  Despite having one of the lowest non-performing loan (NPL) rates in the region, the onset of the global economic crisis in 2008 came as a reminder to Qatari lenders of the vulnerability of some areas of their loan books to economic distress. The high levels of personal debt in the GCC were of particular concern to regional regulators and many of them have taken steps to address the issue. Thus, the Qatar Central Bank’s (QCB) decision to establish a credit bureau might be seen as part of a trend toward greater transparency and risk management in the sector. CREDIT HISTORY: After a two-year review