CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: PROF. KHALID MUBARAK AL-SHAFI

Business / Qatar Business

‘East Africa is next destination for Qatari investments’

Published: 17 Jan 2024 - 09:46 am | Last Updated: 17 Jan 2024 - 09:49 am
QC’s First Vice-Chairman, Mohamed bin Ahmed bin Twar Al Kuwari

QC’s First Vice-Chairman, Mohamed bin Ahmed bin Twar Al Kuwari

The Peninsula

Doha, Qatar: The Qatar Chamber (QC) is participaing in the ‘East Africa Investment Forum and Trade Exhibition’ held on the sidelines of the 19th Non-Aligned Movement (NAM) Summit and the G77 + China Summit in Kampala, Uganda. QC’s First Vice-Chairman, Mohamed bin Ahmed bin Twar Al Kuwari, represented the Chamber in the event, which continues until January 18.”

Held under the theme ‘Deeper Cooperation in Trade, Tourism, and Investment for Shared Global Affluence,’ the forum aims to create opportunities in trade, tourism, investment, and technology transfer. It seeks to promote investment opportunities in key sectors such as tourism, agri-value addition, mineral beneficiation, oil and gas, ICT, infrastructure development, real estate, and services.

Addressing the forum’s inaugural session, Mohamed bin Twar stated that the State of Qatar, the Republic of Uganda, and the East African region enjoy close relations that have deepened over time. He noted that this is evident through frequent mutual visits at the leadership level, and the existence of a number of signed agreements to enhance relations between the two countries.

He also emphasised that Qatar and Uganda share strong and close relations as members of several organizations, including the OIC, UN, and the Afro-Arab Summit, indicating that Qatar is interested in forging investments in Uganda, and exploring opportunities available across various sectors. HE pointed out that the Qatar private sector is eager to invest in Uganda.

He mentioned that Qatar Energy has concluded exploration and production agreements with several countries on various continents, awarding contracts worth tens of billions of dollars to implement the North East Field and North South Field expansion projects. These projects are expected to increase Qatar’s LNG production capacity from 77 million tons per year to 126 million tons per year, with production expected to begin in 2026 and 2027 for the two fields, respectively.