Italian firms invited to focus on abundant investment opportunities in Qatar

Qatar, whose exports to Italy jumped more than five-fold during 2012-19, on Monday invited more Italian firms to scout for the abundant investment opportunities that exist for them in Qatar. As an enabler, there are 40 agreements between the two countries covering several various key industries, HE the Minister of Transport and Communication Jassim Seif Ahmed al-Sulaiti told a roundtable conference, which was organised by the Ministry of Foreign Affairs of Qatar in co-operation with Ministry of Foreign Affairs of Italy. The meeting also saw signing of a letter of intent on co-operation in innovation between Qatar Foundation for Education, Science and Community Development and Intesa Sanpaolo Innovation Center. He said the bilateral relations can be described as “excellent and unique” at the political, economic and even military levels and are based on mutual respect, trust and common interests between the two countries. Every year, Qatar exports 8bn cubic metres of gas to Italy, which equals nearly 10% of the European country’s needs, while the value of Qatar’s commodity exports to Italy rose from QR986mn in 2012 to QR5.13bn in 2019; up more than 420%, he said. Qatar’s delegation was headed by al-Sulaiti with participation of HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari; HE the Minister of Municipality and Environment Abdullah bin Abdulaziz bin Turki al-Subaie and Qatar Investment Authority chief executive Mansoor bin Ebrahim al-Mahmoud. The Italian delegation was headed by the Italian Foreign Minister Luigi Di Maio. Highlighting the role of the Italian firms in strategic projects in mobility and ports sectors in Qatar; al-Sulaiti said a consortium led by Salini Impregilo participated in the works of designing and constructing the Red Line of Doha Metro. He also highlighted the role of C M Bernardini, the leading Italian company specialised in the design and supply of equipment and plants for oils and fats industry, as an international consultant on the works of developing and building the strategic food security facility (SFSF) at the Hamad Port. The roundtable was attended by Qatar’s envoy to Italy Abdulaziz bin Ahmed al-Malki al-Jehani and Italy’s ambassador to Qatar Alessandro Prunas.