Khush Choksy, senior vice-president of the US Chamber of Commerce for Middle East, Central Asia and Turkiye. PICTURE: Thajudheen
Qatar’s attractiveness as an investment destination for US businesses was at the forefront of meetings between various Qatari ministries and 20 US companies led by Khush Choksy, senior vice-president of the US Chamber of Commerce for Middle East, Central Asia and Turkiye.
Choksy highlighted Qatar’s concentrated focus on developing its technology, biotech, and artificial intelligence (AI) sectors, where American companies have a strong competitive advantage.
This keen interest of US businesses on Qatar’s digitalisation journey came at the heels of recent announcements made by the Qatari government.
At the recently concluded QEF 2024, HE the Minister of Communications and Information Technology Mohamed bin Ali al-Mannai emphasised Qatar’s commitment to fortifying its regional digital leadership and driving digital transformation in the Arab world.
HE al-Mannai lauded His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s allocation of a QR9bn incentive package to support comprehensive digital transformation, including a $1bn fund to support regional entrepreneurs and emerging companies in line with the goals of the country’s Third National Development Strategy.
During Qatar Web Summit 2024, al-Mannai also announced that the government will support the private sector in driving Qatar’s digital economy, defining the key developments in the Information and Communication Technology (ICT) sector and the outlines for the digital innovation plan in Qatar for the next five years.
The minister also underscored the significance of the Digital Agenda 2030 in promoting a knowledge-based digital economy and boosting digital transformation across industries and highlighted the role of small and medium enterprises (SMEs) in the success of Web Summit Qatar 2024 and the role of both SMEs and the private sector in bolstering the national digital economy.
“US technology companies have made significant investments in Qatar, with Microsoft, Google, and others establishing data centres and operations in the country. American companies have a strong advantage on technology, biotechnology, and AI, which are areas that Qatar is trying to develop. We’ve seen major players in different niches focusing on Qatar,” Choksy told Gulf Times.
Aside from technology, Choksy emphasised that the US Chamber of Commerce aims to foster ties and enable more American educational institutions to form partnerships and establish campuses in Qatar’s Education City. These educational exchanges provide talent and resources for businesses, Choksy also pointed out.
“Increased collaboration between American universities and Qatar’s educational institutions will benefit US businesses, particularly those that are already established in Qatar, as well as other companies in the States that are seeking to come here,” he said.
Choksy also added that the US Chamber of Commerce is constantly working with Qatari authorities to provide conditions and frameworks that will foster greater investment by American companies, which includes discussions on laws related to the financial sector, insurance, data privacy, and other regulatory aspects.
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