Charbel Maakaron, managing partner of the Squire Patton Boggs Doha office, co-led AmCham Qatar’s seminar on the New Foreign Investment Law, on 20 March 2019. As part of AmCham Qatar’s Distinguished Speaker Series, the seminar was co-presented by Mr. Abulla Al Majed from the Business Development and Investment Promotion Department at Qatar’s Ministry of Commerce and Industry, who provided the audience with insights into the practical implementation of the new law and the processes followed by the ministry.
On 7 January 2019, HH the Emir of the State of Qatar issued Law No. 1 of 2019 on Investment of Non-Qatari Capital in Economic Activity to repeal and replace Law No. 13 of 2000 on Investment of Non-Qatari Capital in Economic Activity. The new law permits 100% ownership for foreign investors in most sectors of the economy and is intended to drive overseas investment and achieve economic diversification in accordance with the Qatar National Vision 2030. It comes as part of the legislation Qatar issued recently to position itself as an investment hub.
The Distinguished Speaker Series seminar provided an overview of the legal framework regarding the new law and its practical implementation and was well attended by AmCham Qatar members and other members of the international business community.
Mr. Maakaron, who currently serves as the chairman of ICC Qatar Arbitration, is a specialist on Qatar laws and, in particular, corporate law, mergers and acquisitions, and regulatory matters. Mr. Maakaron commented, “This is an important step by the government of Qatar, and the changes to international investment that have been brought forward will have a significant impact on global firms. So it is crucial that businesses understand fully how to make best use of the opportunities in this dynamic economy.”
The Squire Patton Boggs Doha office is an AmCham Qatar Chairman Circle Member. AmCham Qatar serves as a key forum for American, domestic and international businesses to pursue common commercial interests and build relationships in Qatar.