A Meeting Held by Qatar Chamber
Participation of Sierra Leonean Trade Minister and SLIEPA CEO
Bin Twar: A Chance for developing Cooperation between Qatari and Sierra Leonean Companies is accessible
Sandy: Great opportunities for businessmen from both countries to forge business alliances
Koroma: We invite Qatari business owners to visit Sierra Leone and explore investment opportunities
Qatar Chamber held today, Wednesday, June 15, the Qatari-Sierra Leone business meeting; the Qatari side was headed by His Excellency Mr. Mohammad bin Twar Al-Kuwari, First Vice-Chairman of the Chamber,
while the Sierra Leonean delegation was headed by Mr. Sheku Lexmond Koroma, CEO of the Sierra Leonean Investment and Export Promotion Agency (SLIEPA).
His Excellency Dr. Edward Hinga Sandy, Minister of Trade and Industry of Sierra Leone has attended the meeting via videoconference.
The meeting discussed ways to enhance commercial and industrial cooperation and investment opportunities available in both Qatar and Sierra Leone and the possibility of establishing partnerships between business owners in the two countries to contribute to increasing the rates of trade and investment exchange.
Bin Twar said that the State of Qatar and the Republic of Sierra Leone have close relations based on respect and mutual trust, but he pointed out that the volume of trade exchange between the two countries is still weak and does not live up to the level of aspirations, and is not commensurate with the size of the capabilities available in both countries.
Bin Twar pointed out that the huge potentials in agriculture, mining and natural resources that the Republic of Sierra Leone abounds in, provide important opportunities for investment and open the way for the development of Cooperation between Qatari and Sierra Leonean companies, pointing to the interest of Qatari business owners to learn about investment opportunities available in Sierra Leone, as well as the interest and keenness of Qatar Chamber and its support to strengthen cooperation between the private sector in both friendly countries.
Bin Twar stressed the readiness of the Qatar Chamber to assist business owners and investors from Sierra Leone wishing to establish direct or joint projects in Qatar and to encourage Qatari investors to invest in Sierra Leone, especially since the State of Qatar attaches great importance to investing in Africa in general.
Bin Twar mentioned that the State of Qatar has succeeded in achieving a set of achievements in all fields, and is witnessing a comprehensive economic renaissance thanks to the wise leadership and sound economic policies that it pursues, which made Qatar a leading regional and global center for business and investment, as it developed infrastructure on a global level and established Free and industrial zones and issued many economic legislations and laws that created an attractive investment environment for investment.
Bin Twar called on Sierra Leonean companies to invest in Qatar and build partnerships with Qatari companies in many sectors such as industry, services, tourism, and others.
For his part, His Excellency Dr. Edward Hinga Sandy, Minister of Trade and Industry of Sierra Leone, said that Qatar and Sierra Leone share strong relations on a number of levels and that there is a desire on the part of the Sierra Leonean government to enhance trade and economic cooperation with the Qatari private sector, noting that there are many opportunities that businessmen can seize from the two countries, he concluded partnerships and trade alliances, expressing his hope that the Qatari-Sierra Leone business meeting will produce the results of strengthening joint commercial cooperation.
Sandy stressed that his country is open to foreign investments, and there are many elements for those wishing to invest in Sierra Leone, whether related to the geographical location as an entrance to several African markets, or other elements related to the foreign capital protection system, tax systems, etc., noting that Sierra Leone has investments in a number of the agricultural and industrial sectors and that his country is rich in natural resources such as diamonds, gold, iron, wood, and others.
His Excellency Mr. Sheku Lexmond Koroma, CEO of (SLIEPA), said that he headed a delegation comprising some government agencies, business owners, and investors from Sierra Leone to learn about ways to enhance trade and economic relations with the Qatari private sector and to identify the possibility of establishing mutual partnerships that increase the volume of trade exchange between the two countries.
Koroma pointed out that the two countries have economic components and incentives that could form a basis for cooperation between Qatari and Sierra Leonean business owners. Koroma invited Qatari business owners to visit Sierra Leone and learn about the available investment opportunities closely.
During presentations, the Sierra Leonean delegation introduced the most important economic sectors in which Qatari investors can establish projects, the most important of which is the agricultural sector, which contributes about 60% of the national income, and that there are opportunities to invest in foodstuffs, including cocoa, which is the most prominent Sierra Leonean export, rice, grains, poultry, and vegetables.
The presentation also reviewed several promising opportunities in the tourism sector, as well as a presentation reviewing the features of the Sierra Leonean economy and the investment incentives provided by the government, introducing the tax system, exemptions, and facilities granted to foreign investments.