​H.E Minister of Economy and Commerce participates in the inauguration of Qatar’s pavilion at the Hannover Fair 2018 in GermanyH.E Minister of Economy and Commerce: “Qatar’s participation in the fair is an important opportunity to promote the state on an economic level as a regional and global investment and trade hub” 
H.E Sheikh Ahmed bin Jassim bin Mohammed Al-Thani, Minister of Economy and Commerce, has inaugurated Qatar’s pavilion at the Hannover Fair, the world’s largest trade fair in the industrial sector. The fair takes place at the Hannover Exhibition Grounds, Germany, from 23 to 27 April 2018.
Qatar’s Ambassador to Germany, Sheikh Saud bin Abdulrahman Al-Thani, and a number of Qatari and German officials attended the ceremony.
Qatar’s Ministry of Economy and Commerce is participating in the fair through a 990 sqm pavilion that brings together representatives of the Ministry of Energy and Industry, Qatar Chamber, Qatar Financial Centre, Manateq Company, the Supreme Committee for Delivery & Legacy, Qatar Railways Company “Qatar Rail”, Qatar Development Bank and a number of private companies including Qatar Pharma, Qatar Industrial Manufacturing Company (QIMC), Qatar Aluminum Extrusion Company (QALEX), Amiantit Qatar Pipes (AQAP), Roder, SICO Middle East and National Paints Factories.
Qatar’s pavilion aims to showcase the opportunities that the Qatari economy offers to investors as well as the incentives and legislations that have been put in place to support the private sector. Qatar will also highlight public-private partnership projects and the country’s advanced infrastructure, particularly economic and logistics zones and warehousing Parks in addition to FIFA World Cup 2022-related projects.
 
Promising investment opportunities and significant efforts to diversify the national economy
Speaking following a tour at the fair, H.E Sheikh Ahmed bin Jassim bin Mohammed Al-Thani, Minister of Economy and Commerce, said that Qatar’s participation in the Hannover Fair, the world’s largest industrial forum, is of great importance and presents an opportunity to promote Qatar’s position on the global and regional levels. The Fair presents an opportunity to familiarize participants, businessmen and investors with investment opportunities in Qatar, and to highlight the country’s friendly investment climate in a bid to attract international companies to the local market and support the diversification policy of national sources of income, H.E said.
H.E also praised the active participation of various governmental and semi-governmental agencies as well as the private sector under the umbrella of Qatar’s pavilion.
The exhibition provides an opportunity for participating entities to promote and market their products in new markets as well as to showcase Qatari industries in front of a large number of economists and businessmen from around the world, H.E explained.
H.E added that the fair also present an opportunity to meet with representatives of international companies and factories, thus enabling participants to exchange expertise and access the best global technological solutions and the latest innovations and industrial technologies, which will enhance channels of communication and facilitate new partnerships.
“Qatar seeks to support the efforts of various entities to develop and shore up the private sector, bolster its growth and increase its contribution to GDP, in line with the objectives of the Qatar National Vision 2030, which seeks to diversify the national economy by focusing on investment in various sectors and vital areas,” H.E said.
Touching on Qatar’s characteristics as a leading investment destination, H.E Sheikh Ahmed noted the efficient policies established by the country’s wise leadership, which helped stimulate various economic sectors to increase productivity year after year.
As a result, the contribution of the non-oil sector to GDP at constant prices reached about 52% last year while foreign trade increased by 16% in 2017 to reach 103 billion dollars, compared with 89 billion dollars in 2016, H.E noted. Total exports also rose by 19% to US $ 68 billion in 2017 compared to US $ 57 billion in 2016, H.E said.
His Excellency also highlighted Qatar’s advanced rankings on the latest Global Competitiveness Report 2017.
Qatar ranked first in terms of providing a safe business environment, second in terms of the tax impact on business, third for government procurement of advanced technology, fifth in terms of venture capital availability, and fifth for the availability of scientists and engineers, H.E said.
H.E hailed the ambitious initiatives and legislations that the state has adopted to provide incentives to attract local and foreign investments, noting that Qatar sought to provide a business environment free from taxes and to exempt invested foreign capital from income taxes for up to ten years when it comes to specific investment projects in many sectors in addition to offering exemptions from customs taxes and fees when importing equipment and raw materials.
H.E added that Qatar has allowed foreign investors up to100% ownership across many sectors in addition to allowing the repatriation of profits and the transfer of company ownership free of charge. Qatar is also home to an advanced infrastructure capable of supporting national industries and products and meeting all needs, which contribute to developing and increasing the competitiveness of the industrial sector, H.E said.
H.E Qatar’s Minister of Economy and Commerce thanked Germany as well as the organizers and sponsors of the fair, noting the significant efforts on the organizational and media level to ensure the success of this global industrial event, which is an important forum for the world’s largest technology companies.
 
Introducing Qatari laws to stimulate investment
Through its pavilion at the fair, the Ministry of Economy and Commerce sought to introduce key laws and legislations adopted by the state to stimulate domestic and foreign investments, in addition to showcasing the incentives and advantages offered to investors such as the exemption of foreign capital from income tax for up to ten years when it comes to specific investment projects across many sectors in addition to exemptions from customs taxes and duties when importing equipment and raw materials. The Ministry also highlighted the friendly investment climate in Qatar, as well as the services offered to investors to streamline investment applications and company incorporation procedures.
Participants in Qatar’s pavilion are also showcasing the key initiatives undertaken by the state to attract and stimulate investments in the industrial sector as well as to bolster Qatar’s strategy to encourage the private sector and support investors to attract foreign capital. Participants also shed light on Qatari industries across various sectors and the latest technologies, techniques and equipment used in the industrial sector in addition to familiarizing visitors with investment opportunities and incentives offered to investors, businessmen and entrepreneurs to invest in industries, which will pave the way for their active participating in channeling domestic and foreign investment into Qatar and their contribution to the economic development of the state.
In addition, participants in Qatar’s pavilion will be organizing a number of workshops and presentations to introduce the latest projects and initiatives, as well as incentives and investment opportunities provided by the state to attract new foreign direct investments especially in the industrial sector. The workshops and presentations will also feature the exchange of expertise and information as well as discussions over important issues relating to the industry sector. The workshops and presentations will attract visitors, experts and representatives of the private sector and major international companies.
The Hannover Fair is the world leading trade fair for industrial technology. The five-day fair covers a wide range of topics on industrial and information technology, industrial supply and engineering, services, energy and environmental technology.
The fair will feature more than 80 panels and discussion forums under the theme of “Integrated Industry – Connect & Collaborate” with the participation of more than 150 speakers and more than 6,500 exhibitors from around the world. The event is also expected to attract more than 210,000 visitors.