President of Ingushetia Invites Qatari Investments


HE President of the Russian Republic of Ingushetia, Yunus-bek Yevkurov, called on Qatari businessmen to invest in his country and benefit from opportunities in many sectors, mainly food security and tourism.

During his meeting with Qatari businessmen on Tuesday, HE the president expressed his country’s desire to supply the Qatari market with the necessary foodstuffs, especially in light of the rapprochement and cooperation between Qatar and the Russian Federation as well as in light of the current Russian trends to strengthen cooperation relations with Arab countries, especially the State of Qatar, which is witnessing remarkable development in all sectors.

He said relations between Qatar and Ingushetia are developing, especially after the visit of HH the Emir Sheikh Tamim bin Hamad Al-Thani to Russia in January 2016. He noted the interest of the Russian leadership to develop relations of cooperation with Qatar in all fields, especially economic and cultural.

HE the president added that his country has many potentials that the State of Qatar can benefit from in order to create opportunities for cooperation between Qatari companies and their counterparts in Ingushetia, reviewing a number of opportunities for establishing joint projects between the two sides.

He pointed out that Ingushetia offers tax concessions to foreign investors while granting them investment land free of charge, as well as taking care to provide them with all the necessary facilities to avoid any bureaucratic procedures that may affect the acceleration of all procedures required for investment.

Qatar Chamber Vice Chairman Mohammed bin Ahmed bin Twar expressed the keenness of the private sector to strengthen relations of cooperation with Ingushetia in all fields, especially economic and trade. He praised the keenness of HE the president of Ingushetia to meet Qatari businessmen and inviting them to invest in his country.

He pointed out that Qatari business owners have a genuine desire to explore the investment opportunities available in Ingushetia especially in the areas of food security. He stressed that the visit of HE the president of Ingushetia to the State of Qatar will contribute to the promotion of bilateral relations.

Umalat Torshkhoev, Minister of Economic Development of the Republic of Ingushetia, provided a detailed presentation highlighting the major infrastructure development projects and investment opportunities in the economy.

Speaking to media on the sidelines of the meeting, President Yevkurov, added: “I think our visit to Qatar was very successful. Both sides are working to sign several agreements to establish bilateral cooperation very soon.”
He also noted that Ingushetia is endowed with natural resources, such as mineral water in Achaluki, oil and natural gas in Malgobek, forests in Dzheirakh, and metals in Galashki region.

In addition, Ingushetia also boasts of the unique history, natural and mountainous beauty, and the ancient Galgai towers, which are the major attractions for tourists.

He said that there are a lot of areas where Qatar and Ingushetia can cooperate for mutual benefits. Since there are no formal trade relations between the two, so the potential for growth is very high.

“We have some of the world’s best agro-products, including fruits and vegetables. Currently we are focusing to establish cooperation in the field of agriculture, food processing industries, and tourism development. Eventually it can be further expanded to cooperation in the field of energy, civil aviation and other sectors,” said Yevkurov who has been heading the government of Ingushetia since October 2008.

Asked about the signing of agreements for investment protection, the President reiterated that both sides are working closely to establish and expanding ties, investment protection will be one of the several agreements both sides are expected to be signing very soon.

“We are going to export some of the best fruits and other food stuff to Qatar very soon. We also invite Qatari businessmen and tourists to visit Ingushetia and investment opportunities. There are many privileges to invest which include tax rebates, free-land plots, that too without any bureaucratic delays,” the President added.

“If there are any problems or hurdles businesses and investors face, they can directly contact with me without any hesitation.”

The President also praised about friendly discussions with the Qatari leaders, and many other things about the country, including the rich culture and hospitality.

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