Invest Hong Kong (InvestHK) and the Qatar Financial Centre Authority of the Qatar Financial Centre of the State of Qatar on 9 July 2019 signed a Memorandum of Understanding (MOU) pledging mutual co-operation on investment promotion exchange and support.
The MOU was signed by the Director-General of Investment Promotion at InvestHK, Mr Stephen Phillips, and the Managing Director of Business Development of the Qatar Financial Centre Authority, Ms Sheikha Alanoud Bint Hamad Al-Thani, in the presence of the Associate Director-General of Investment Promotion, Mr Vincent Tang, and the Consul General of the State of Qatar in Hong Kong, Mr Mohammed Sultan Al Kuwari.
Mr Phillips said, “The signing of the MOU today signifies an important milestone for Hong Kong and Qatar in terms of mutual investment promotion co-operation. The MOU offers a basis for both parties to enhance the existing ties beneficial to attracting foreign direct investment to each other’s jurisdictions. Towards this end, InvestHK will continue to work closely with the Qatar Financial Centre over future investment promotion work.”
The MOU provides a framework to enhance the close relationship for the mutual benefit of the Hong Kong Special Administrative Region (HKSAR) and Qatar and their co-operation with each other in promoting both inward and outward investment in the two jurisdictions. According to the MOU, both sides will share information and experiences in investment promotion, encourage interested local companies to set up or expand their business within the area of the other jurisdictions, and support each other’s investment promotion events that foster bilateral investment between the two jurisdictions.