QFC Highlights Business Opportunities to Turkish Companies
In collaboration with the Istanbul Chamber of Commerce and the Embassy of Turkey in Qatar, Qatar Financial Centre (QFC) organised a high-level, informative webinar entitled, ‘Emerging Opportunities: Qatar & Turkey,’ which explored the latest developments in Qatar’s business landscape, highlighting the growing investment opportunities in the country for Turkish companies.
As part of QFC’s flagship #AccessQatar series, an array of engaging speakers including, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority; Sheikha Alanoud Bint Hamad Al-Thani, Managing Director of Business Development, QFC Authority; H.E. Dr. M. Mustafa Goksu, Ambassador of Turkey in Qatar; Sekib Avdagic, President, Istanbul Chamber of Commerce; and Ozgur Aytan, Country Managing Director, Havelsan, a Qatar-based Turkish firm, shared insightful presentations on the bilateral trade relations between the two countries as well as highlighting the growing opportunities available in Qatar to Turkish firms.
In 2019, QFC signed a memorandum of understanding with the Turkish Presidency Finance Office to introduce a passporting initiative to facilitate mutual cross-border business opportunities for companies. This initiative, in addition to the series of benefits offered by the QFC to international firms coming into Qatar, facilitates a vital gateway for more Turkish companies to enter the market in Qatar.
An informative case study of the successful business journey and operations of Havelsan, a Qatar-based Turkish software and systems integrator company that provides global solutions in the defence and informatics sectors, was presented by Ozgur Aytan, the company’s country managing director. The case study highlighted the conducive nature of Qatar’s business ecosystem and how successfully it accommodates companies wishing to set up in the country for long-term business endeavour.
The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.