Latest news with #AlKuwari
Qatar Tribune
6 days ago
- Business
- Qatar Tribune
Cabinet-approved tax incentive bolsters national economic competitiveness: GTA president
DOHA: President of the General Tax Authority (GTA), Khalifa bin Jassim Al JahamAl Kuwari, has lauded the Cabinet's endorsement of the draft decision granting a tax advantage on capital gains derived from intra-group corporate restructuring. Speaking to Qatar News Agency (QNA), Al Kuwari emphasized that this measure reinforces the strategic thrust of the national economic policy geared toward diversifying the economy, supporting corporate growth, stimulating investment inflows, and bolstering the long-term competitiveness of the national economy. The decision is a strategic step toward forging a flexible and incentivized investment environment by upgrading the tax system to remain competitive and capable of adapting to rapid transformations in the global economy, in alignment with best global practices in this field, he highlighted. Al Kuwari underlined that empowering companies and encouraging them to list on the financial market not only supports their expansion but also constitutes a fundamental pillar in enhancing the appeal of the national economy, attracting foreign investments, and reinforcing confidence in the Qatari market as a stable and secure destination. This step underscores the nation's commitment to promoting the business environment and economic growth, with the Cabinet endorsing a decision that grants a tax advantage on capital gains arising from intra-group corporate restructuring, His Excellency outlined. He explained that the decision seeks to foster a more attractive investment climate by enabling companies to move toward listing on the financial market. It further provides for a capital gains tax exemption on the transfer or exchange of assets within holding companies, as part of sustained efforts to align with international best practices and stimulate sustainable institutional growth. The decision comes in response to the requirements of the Qatari economy, as GTA has remained committed to crystallizing effective solutions that meet the aspirations of the business community and serve the economic and social development goals, Al Kuwari said. He added that this orientation underscores the flexibility of tax policy as a strategic tool to enhance competitiveness in a global market that attracts investments. Overall, GTA underscores its unwavering commitment to supporting policies and initiatives that contribute to upgrading the tax system, fostering the business climate, lending impetus to economic growth, and keeping up with the nation's aspirations toward a sustainable development path rooted in diversity and openness.
Qatar Tribune
20-05-2025
- Business
- Qatar Tribune
QEF: Qatar, Saudi, Turkey share plans for sustainable growth
QNA Doha A high-level panel discussion took place on Tuesday during the fifth edition of the Qatar Economic Forum titled 'The Geoeconomics of Growth: Finance & Economy Minister Outlook,' explored how governments in the region are dealing with accelerating global economic challenges, and examined ways to enhance economic resilience and achieve sustainable growth amid geopolitical changes and technological and economic transformations. HE Minister of Finance of the State of Qatar Ali bin Ahmed Al Kuwari, HE Minister of Economy and Planning of the Kingdom of Saudi Arabia Faisal bin Fadel Al Ibrahim, and HE Minister of Treasury and Finance Republic of Turkey Mehmet Simsek participated in the session. During his remarks, HE Al Kuwari emphasized the importance of international cooperation and experience-sharing to develop financial policies that support growth, highlighting the critical role of strategic investments and structural reforms in building more resilient economies capable of withstanding future crises. Speaking on recent figures concerning economic partnerships between Qatar and the United States, HE Minister Al Kuwari noted that they reflect the depth of economic relations and the scale of trade between the two countries, adding they come at a time when the United States remains Qatar's most important investment destination, due to the strong opportunities and rewarding returns it offers. Regarding the Qatar Investment Authorityâ€s strategy, Minister Al Kuwari said that the current priorities include technology, artificial intelligence, pharmaceuticals, infrastructure, and real estate, and that this strategy is reviewed annually to align with global opportunities and mitigate risks. For his part, HE Al Ibrahim said that the Kingdom is steadily progressing in implementing Vision 2030, which aims to restructure the national economy on a sustainable foundation, moving away from traditional reliance on oil revenues. He described the vision as a long-term strategic plan focused on building a diverse and flexible economy capable of adapting to various global challenges. He added that the Saudi budget is no longer based on oil prices but rather on clear developmental and investment priorities, noting that the Kingdom is investing in institutional resilience to enhance its ability to adapt and evolve through building strong, effective institutions supported by medium- and long-term financial plans. He added that these plans enable adaptability across various economic scenarios, with a focus on the long term rather than short-term fluctuations. Minister Al Ibrahim also said that the ongoing transformation is not only about reducing dependence on oil, but also about shifting from a consumption-based economy to one focused on production, innovation, and exports. This transformation has attracted significant foreign direct investment, thanks to available opportunities and a modern regulatory environment. He pointed out that the non-oil economies of the GCC countries recorded 3.7% growth in 2024, nearly double the global average, reflecting the success of economic transformation plans across the region, particularly in Saudi Arabia under Vision 2030. This growth, he said, signals growing recognition that the region's economies had long underutilized their potential. He affirmed that Saudi Arabia and other Gulf states have taken serious steps to restructure their economies, leading to increased opportunities in production, innovation, and exports, as well as attracting capital and talent. He also stressed that foreign direct investment is a key pillar of the Kingdomâ€s vision, with a target for FDI to constitute 5.7% of GDP by 2030, equivalent to approximately $100 billion in investment flows. Saudi Arabia has already seen positive indicators in this area, including the number of licenses issued, regional headquarters established, and ongoing investment deals. He noted that the Kingdom has implemented 900 economic and regulatory reforms to improve the business environment and is continuing efforts to enhance its appeal to global investors. During his remarks, HE Minister of Treasury and Finance Republic of Turkey said that his country is continuing to implement a comprehensive economic program aimed at reducing inflation and achieving sustainable growth, despite what he described as temporary side effects observed in some sectors, particularly manufacturing. He noted that Turkey has rebuilt its monetary policy and established a strong fiscal foundation, highlighting that everything was now in place to reduce inflation. He acknowledged that no remedy comes without side effects, in reference to sector-specific disruptions. The Turkish finance minister noted that earlier this year, the government provided direct support to labor-intensive export sectors to help mitigate the impact of the economic transition. He stressed that the essence of the program is to reduce inflation in order to pave the way for high and sustainable growth. Regarding manufacturing, he acknowledged that the sector is facing challenges due to slowed growth in the eurozone, Turkeyâ€s main trading partner. However, he emphasized that manufacturing only accounts for 23% of GDP, while the services sector continues to grow and generate employment. His Excellency also revealed that Turkey created nearly one million jobs last year and reiterated the governmentâ€s commitment to continuing the economic program despite short-term pressures. The session brought together finance and economy ministers from three rising economic powers in the region. Its significance lies in showcasing the direction of emerging economies playing pivotal roles in reshaping the global growth map through different means, whether through sovereign investments, infrastructure development, income diversification, or the creation of new, more flexible and innovative economic models.
Qatar Tribune
20-05-2025
- Business
- Qatar Tribune
Finance minister meets several ministers, officials on margins of QEF 2025
DOHA: Minister of Finance HE Ali bin Ahmed Al Kuwari has met with Minister of Economy and Planning of the Kingdom of Saudi Arabia HE Faisal bin Fadhil Alibrahim, on the margins of the Qatar Economic Forum 2025, held under the theme 'The Road to 2030: Transforming the Global Economy'. Both ministers conferred on a broad range of topics related to shared interests, particularly economic ones, as well as avenues for broadening collaborative efforts between the two nations. Separately, Al Kuwari met with Minister of Treasury and Finance of the Republic of Turkiye HE Mehmet Simsek, on the margins of the forum. They addressed a range of topics related to the shared interests of both countries, particularly in the financial and economic fields, as well as measures aimed at broadening the scope of these joint activities. Additionally, Al Kuwari met with His Grace The Duke of Richmond, Charles Gordon-Lennox, from King's Trust International. The meeting reviewed areas of mutual cooperation and discussed ways to strengthen relations across a number of sectors of shared interest, particularly in the fields of economy and investment, in addition to addressing regional and international economic developments. Al Kuwari also met with Executive Vice President and Chief Commercial Officer at Microsoft, Judson Althoff. Both sides deliberated on strengthening the frontiers of bilateral cooperation in the areas of investment, finance, and economics, as well as a host of topics of shared interest.
Qatar Tribune
07-05-2025
- Sport
- Qatar Tribune
QSL announces special arrangements for Qatar Cup 2025 final
QSL Doha The Qatar Stars League (QSL) announced the arrangements and preparations for Qatar Cup 2025 final between Al Sadd and Al Duhail on Saturday at Jassim Bin Hamad Stadium of Al Sadd club (kick-off 7pm). The announcement was made at a press conference held at QSL Headquarters, attended by Hassan Rabiah Al Kuwari, Executive Director of Sales, Marketing and Communication at QSL, and Ahmed Salman Al Adsani, Director of Competitions at QSL, in the presence of media representatives and Qatar Cup Ambassadors. Al Kuwari said, 'I welcome all attendees and congratulate both teams on qualifying for the final of The Glorious Cup to which we attach great importance in terms of preparations and arrangements, in co-operation and co-ordination with all stakeholders and partners, to ensure a distinguished performance at all levels. Tickets for the match went on sale on Monday, May 5, and are available only through QSL's official website A dedicated fan zone will be active two hours before kick-off and will feature related facilities and entertainment activities with the aim of providing a unique fan experience. Valuable prizes will also be available through a raffle, including a car as well as cash prizes totalling QR10,000 for each participant in the Golden Goal half-time activation. Al Kuwari extended his sincere thanks and appreciation to all sponsors, partners, stakeholders, media organisations, Host Broadcaster and Qatar Cup 2025 Ambassadors. Mr. Al Adsani said, 'We congratulate both teams on their participation in the Qatar Cup 2025 final. We also emphasize that our preparations are going on well to ensure a distinguished final, in co-ordination with the two clubs and all relevant parties. We thank them all for their co-operation.' A technical meeting was held with representatives of both teams to discuss organizational procedures, match-day operations and coronation. It was emphasized that, in accordance with what was previously announced, if the match ends in a draw, extra time will be played for 30 minutes, divided into two halves. If the draw persists, penalty shoot-out will be enforced.
Qatar Tribune
07-05-2025
- Politics
- Qatar Tribune
NHRC vice-chairperson discusses human rights cooperation with Australian officials
CANBERRA: National Human Rights Committee (NHRC) Vice-Chairperson Dr Mohammed bin Saif Al Kuwari has discussed further human rights cooperation with Australian officials in Sydney. The talks with Australian Human Rights Commission (AHRC) President Hugh de Krester, Senior Assistant Ombudsman NSO (Commonwealth Ombudsman) Kate Anderson, and Director of the Asia-Pacific Forum of National Human Rights Institutions (APF) Kieren Fitzpatrick explored potentials for cooperation and expertise-sharing to serve and enhance both sides' common goals. In this sphere, a Memorandum of Cooperation (MoC) was inked between the NHRC and APF to further collaborate on information, legislation, and publications that reflect the nature of their work and competencies, as well as the principles guiding their performance. They will also hold workshops and consultative meetings and interactive dialogues. Under the deal, members of both parties will engage in mutual conferences, seminars, and cultural activities related to the promotion and protection of human rights, and to establish joint research projects and training programs to disseminate a culture of human rights and boost capacity building. There will also be a possibility of creating an e-platform for the exchange of opinions, information, and experiences. During his meeting with Fitzpatrick, Al Kuwari emphasized the importance of cooperation with Australia on human rights and all related aspects, and the development of a framework for cooperation in the field of strengthening and building capacity with relevant authorities in this regard. He highlighted the roles played by the State of Qatar and Australia in maintaining international peace and security, and in mediating to resolve disputes through peaceful means. He commended the two countries' roles in promoting dialogue among civilizations, tolerance, and coexistence among peoples. The talks with Hugh de Krester culminated in the signing of a Memorandum of Understanding expanding cooperation, exchanging official visits, and inviting guests to major events they organize, as well as enhancing joint action in all areas of human rights. The two sides agreed that joint cooperation would include the exchange of expertise in protecting individual rights, developing educational programs, and monitoring human rights regionally and globally. They would also organize joint events to raise awareness of human rights, exchange progress reports, and support legal initiatives that promote human rights in both countries. Al Kuwari said the meeting discussed collaboration to organize joint training programs with the aim of enhancing institutional capabilities and the ability to address human rights issues from a legal and social perspective. He added that this cooperation could include training staff on best practices for handling complaints and resolving disputes. The two parties could also cooperate in overseeing international human rights commitments, work together to enhance the Arab region's participation in international forums, exchange experiences on how to effectively implement international human rights agreements, and coordinate the submission of joint reports to international bodies. At the conclusion of the meeting, Al Kuwari invited de Krester to participate in the international conference on artificial intelligence and human rights, which the NHRC will organize on May 27 and 28. In another context, during his meeting with Anderson, Al Kuwari provided an explanation of NHRC's national, regional, and international efforts, highlighting the most significant developments and updates witnessed in the State of Qatar in the field of human rights. The two sides agreed to cooperate, particularly with regard to receiving complaints and protecting individual rights. This will be achieved by organizing workshops and periodic meetings between the complaints teams of both parties to exchange best practices in methods for receiving and evaluating complaints. They will also explore the possibility of developing a joint procedural guide to enhance efficiency and transparency in handling complaints, and exchanging statistical data on the nature of recurring complaints, which will contribute to monitoring trends and proposing preventive policies.
