The Qatari Businessmen Association discussed with His Excellency Mr. Paul Chan, Financial Secretary of the Government of the Hong Kong Special Administrative Region, ways to enhance economic and investment cooperation between the Qatari private sector and Hong Kong, and build new partnerships in a number of priority sectors, most notably financial services, health care, logistics services, technology and innovation, and trade and investment.
From the Businessmen Association, two members of the Board of Directors attended: His Excellency Sheikh Hamad bin Faisal Al Thani and His Excellency Sheikh Nawaf Nasser bin Khalid Al Thani. Also present were the members: Sheikh Mansour bin Jassim Al Thani, Mr. Abdul Salam Abu Issa, Mr. Maqbool Khalfan, Dr. Jaafar Al Sarraf, Mr. Yousef Al Mahmoud and Mr. Muhammad Altaf, in addition to Ms. Sarah Abdullah, the Association’s General Director.
His Excellency Mr. Paul Chan said that the meeting with the members of the Association is important to present the opportunities available to expand relations between the two business communities, encourage mutual investments, and link Qatari companies and investors with their counterparts in Hong Kong, which contributes to moving economic relations to a more diversified stage based on long-term partnerships and investments.
During the meeting, His Excellency Mr. Paul Chan also reviewed the potential that Hong Kong offers as an international financial and commercial center, the importance of enhancing communication between the business community in Hong Kong and its Qatari counterpart, and exploring areas through which cooperation and mutual investments can be developed.
Financial services and investment
Cooperation in the financial services sector was one of the main topics of the discussions, as His Excellency Sheikh Hamad bin Faisal Al Thani, a member of the Association’s Board of Directors, stressed that in light of the advanced financial and investment institutions that both Qatar and Hong Kong have, the opportunities for cooperation between banks, financial institutions, asset management companies and investment funds are important in the coming period.
His Excellency added: “We look forward to building practical, long-term partnerships between the Qatari private sector and the business community in Hong Kong. We see particularly promising opportunities in financial services, investment, health care, logistics services and technology, which are sectors in which the expertise and capabilities of both sides can be combined and new markets can be opened for companies and investors.”
The two sides discussed the possibility of enhancing communication between financial institutions in the two countries, developing partnerships in the fields of asset management, investment and financing, and benefiting from Hong Kong’s expertise and financial networks in supporting the expansion of Qatari companies and investors towards Asian markets.
His Excellency Sheikh Hamad bin Faisal also stressed that the Association will visit Hong Kong to explore new investment and financing tools that can contribute to mobilizing capital and directing it towards productive sectors and value-added projects, in addition to examining the opportunities that Qatar can provide to Asian companies and financial institutions wishing to expand their presence in the region.
For his part, His Excellency Sheikh Nawaf Nasser bin Khaled Al Thani stressed that the members of the Association have a great interest in many sectors that contribute to achieving Qatar Vision 2030, including the health care sector, which represents one of the promising areas for long-term investments, pointing out the importance of building partnerships that combine capital, operational experience and technology, which contributes to the development of financial and logistical health services and opens the way for the transfer of knowledge and modern technologies.
Sheikh Nawaf bin Nasser Al Thani added: “Hong Kong can constitute an important gateway for the Qatari investor to China and the Asian markets, and at the same time the State of Qatar provides an attractive environment for Asian companies wishing to access the markets of the Gulf and the region. Hence the importance of moving from dialogue and exchange of visits to identifying investment opportunities and implementable joint projects.”
Members of the association stressed that linking the logistical capabilities of the State of Qatar with trade and business networks in Hong Kong could provide important opportunities for companies from both sides, and help develop new trade and investment corridors linking the Gulf region with Asia.
Strengthening the economic partnership between Qatar and Hong Kong
During the meeting, the Qatari Businessmen Association stressed the importance of strengthening economic relations with Hong Kong, in light of the growing role of Asian markets in international trade and investment, noting that expanding cooperation between the two business communities could open new horizons for companies and investors, and support the building of more diversified and sustainable economic relations between the two sides.
At the conclusion of the meeting, the two sides stressed the importance of continuing coordination and working to organize direct meetings between companies, investors and relevant institutions in priority sectors, with the aim of transforming the presented opportunities into concrete partnerships and projects.