Qatar has fully thrown open three sectors to foreign investors. An amendment to the investment law for non-Qataris by the Council of Ministers on Wednesday allows foreign investors to hold 100 percent stake in consultative and technical work services, the information and technology sector, and distribution services.
The amendment also empowers the respective ministers to relax the law on foreign investment in nine key sectors including agriculture, industry, health, education, tourism and natural resources’ development. The landmark decision is expected to add muscle to the country’s booming economy.
However, the amendment prohibits non-Qataris from investing in the banking and insurance sectors. But it authorizes the Council of Ministers to look into in some exceptional cases. The foreign investment will be allowed in compliance with the country’s National Development Strategy.
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