Qatar Chamber First Vice-Chairman HE Mohamed bin Twar Al-Kuwari praised the close relations between the State of Qatar and the Republic of Indonesia at all levels, pointing to their interest to further enhance their economic and commercial ties, facilitate the establishment of joint investments, and offer more investment incentives for the benefit of the two countries’ economies.
This came during the Qatari-Indonesian Business Forum which was held on Monday at the Sheraton Hotel and organized by the Indonesian Embassy to Qatar in cooperation with the Ministry of Commerce & Industry, Qatar Chamber, and Ministry of Trade of Indonesia.
The meeting was attended by HE Zulkifli Hassan, Minister of Trade of the Republic of Indonesia, and HE Saleh Al-Khualifi, Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce & Industry, and Indonesian Ambassador to Qatar HE Ridwan Hassan, alongside a crowd of businessmen from both sides.
Addressing the opening session, Al-Kuwari also said that the business sectors in Qatar are looking forward to boosting relations with their Indonesian counterparts and exploring the investment climate and opportunities available there, especially since Indonesia is a promising market that offers a multitude of opportunities that attract Qatari investors and is an important gateway to the Southeast Asian region.
“Indonesia is rich in natural resources and a host of investment opportunities in various sectors such as tourism, real estate development, mining, food security, services, and halal trade,” he added.
He indicated that Indonesia is an important trade partner to Qatar, noting that their bilateral trade volume grew by 78% from QR 1.8bn in 2016 to QR3.22bn last year.
As for mutual investments, he said that there are many Qatari investments in Indonesia in various sectors like communication, banking, trading, and others, while o there are many Indonesian companies that invest in Qatar with Qatari partners in a variety of sectors.
Elaborating on Qatar’s investment climate, QC’s First Vice-Chairman said that the State has an ambitious development plan in line with its National Vision 2030 that focuses on various sectors, affirming that Qatar has become one of the preferred destinations for global investments and enjoys a unique investment climate, attractive legislation, and stable political and social status, in addition to the distinguished geographical location.
For his part, Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce & Industry HE Saleh Al-Khualifi said that the two nations’ cooperation has witnessed a remarkable development, calling upon the Qatari and Indonesian business sectors to establish successful investment partnerships and to take advantage of the available economic opportunities that distinguish our two friendly countries.
Al-Khualifi indicated that the State has worked to strengthen existing commercial partnerships, create new ones, and attract more direct and indirect investments, especially in advanced sectors that support economic diversification in line with Qatar National Vision 2030.
He referred to the latest estimates of the World Bank that anticipated that the Qatari economy is expected to grow by about 4.9% in 2022, and the International Monetary Fund estimated that expected the non-oil sector to rise by about 4.1% compared to the oil and gas sector.
Minister of Trade of the Republic of Indonesia HE Zulkifli Hassan said that trade volume between both countries in H1 of this year amounted to $ 758mn, showing an increase of 29 percent compared with $ 587.6 mn in the same period of the last year, affirming that there is a good opportunity to increase their trade, especially in light of Qatar’s hosting of the FIFA World Cup 2022, as well as Indonesia’s hosting of the G20 Summit next November.
Zulkifli pointed to the Qatari investments in Indonesia which includes QNB, Ooredoo, and Nebras Power, noting that this encourages Qatari investors to get acquainted with available opportunities in Indonesia and explore partnerships with the Indonesian private sector in various sectors such as investment and tourism and others.
The Indonesian Minister invited Qatari businessmen to participate in the Trade Expo Indonesia 2022 (TEI) in Jakarta due to convene on October 19- 23.
On his part, the Indonesian Ambassador to Qatar HE Ridwan Hassan said that the Qatar-Indonesia business forum represents a good opportunity for business sectors to develop their relations and review forging partnerships and alliances, stressing the depth of relations between both countries at all sectors and the mutual visits between both countries’ leaderships and the agreements signed between them.
On the sidelines of the forum, Indonesian companies held an exhibition to showcase handcrafts, foodstuffs, and other products.