Doha Bank hosts Chinese business delegation

  • Sep 08, 2019
  • EIN

Doha Bank CEO, Dr R Seetharaman, along with Doha Bank senior management team, hosted a Chinese business delegation at the Doha Bank Head office.

The key dignitaries attended the event included Jamal Sharida S J Al-Kaabi, Tariq Nazim, CEO of the CEO club; Simon Guo, International Advisor to Double Happiness Island; Dr. Zhang, Dachun, President of One Belt

One Road Academy of Shenzhen; Zhang, Jianyuan; President of GCL International: and Ao, Tong, President of Yisheng Healthcare Group Addressing the event, Dr Seetharaman noted the country’s GDP is projected to reach 2.6 percent in 2019 underpinned by a recovery in the hydrocarbon output and still robust growth of the non-hydrocarbon sector.

Health, education and infrastructure accounted for the largest share of the 2019 budget. He highlighted the various facets of ongoing development, the vision of 2030 and preparations for the world cup 2022. The Doha Bank presentation by Dr Seetharaman highlighted Qatar as an ideal destination for bilateral trade and business collaboration. Dr Seetharaman highlighted the potential areas of opportunity and the recent regulation opening up the opportunity for foreign investors to set up companies in Doha, Govt offering the opportunity to become a permanent resident of Qatar and other related legislation making Qatar “very easy to do business” destination.

Highlighting the bilateral relationships between Qatar and China, Dr Seetharaman said: “Qatar-Chinese trade rose 27 percent in 2018 to $13.5bn, exports to China - $9.6bn and imports from China $3.9bn.The main commodities that China imports from Qatar are liquefied natural gas, crude oil and petrochemical products. The main commodities Qatar imports from China are machinery and equipment, electrical and electronic products, furniture, building materials and daily necessities.” Qatar became China’s largest exporter of liquefied natural gas (LNG), supplying about 40 percent of its LNG needs and meeting the growing demand for energy.

In Sept 2018 Qatargas signed a long-term sale and purchase agreement with Petro China International Company Limited to supply 3.4mn tonnes of LNG annually to China until 2040. In November 2018, Doha hosted the sixth edition of the World Economic Development Forum in conjunction with the 30th anniversary of the establishment of Qatar-China relations.

In January 2019, during the Amir H H Sheikh Tamim bin Hamad Al Thani’s visit to China, Qatar Ministry of Commerce and Industry successfully organised a China-Qatar Business Forum. During the China-Qatar Business

Forum, Qatar Free Zones Authority (QFZA) signed MoUs with Huewei The Chinese visitors were impressed with the progress of Qatar in their feedback and each of the businessmen shared their views on potential partnership opportunities relative to their business models. The discussion was very comprehensive and productive, including a robust engagement with the senior members of the Doha Bank management team exploring opportunities in the e-commerce space and alternative fuels.

The mammoth food security project not only seeks to address food sufficiency in the country, but also aims to put Qatar on the map as a strong food exporting hub.

Forty-six winners from the QIB Visa credit and debit cardholders who made domestic or international purchases between 1st of July and 15th of August received a cash prize of QR5,000 each.