DOHA: Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani has said that draft law allowing non-Qatari investors to invest 100 percent capital in all sectors will accelerate development and attract foreign investment in all economic and commercial activities.

In a statement yesterday, the Minister affirmed that the draft law recently approved by the Cabinet regulating the non-Qatari capital in the economic activity would help non-Qatari investors invest in all economic sectors up to 100 percent.

The Minister said that the aim of the law is to accelerate economic development, attract 100 percent foreign capital flows, achieve economic diversification, meet Qatar National Vision 2030, facilitate foreign investor entry and increase confidence and investment safety in the country.

“The new draft will support the entry of foreign investors to the Qatari market through offering several incentives, most importantly the allocation of land for non-Qatari investors to set up investment projects, in addition to the possibility of exemption from taxes and customs duties and the free transfer of investments inside and outside the country.”

The Minister said Qatar today is an attractive destination for foreign investment thanks to its well-considered economic policies, which have contributed to providing a promising investment environment that will be accompanied by an encouraging legislative and administrative system for doing business.

Under the provisions of the draft law, non-Qatari investors may invest in all economic sectors up to (100 percent) of the capital, and they may own no more than (49 percent) of the share capital of Qatari listed companies on Qatar Exchange, after the approval of the Ministry of Economy and Commerce on the percentage proposed in the Company’s memorandum of association and articles of association.