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Posted On: 25 May 2019 11:11 am
Updated On: 25 May 2019 11:20 am

QFC talks about future prospects of cooperation with World Economic Forum

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Qatar Financial Centre (QFC) discussed the prospects for future cooperation with the World Economic Forum (WEF) and discussed a number of key issues related to the development of the Forum and its initiatives and the booming business environment in Qatar.

According to QFC press release, this came during the meeting of the President of the WEF, Borge Brende and senior representatives from a number of Qatari entities, which also serve in a member capacity of WEF, similar to the QFC.

The Chief Executive Officer of QFC Authority Yousuf Mohamed Al Jaida said: "It is an honour to host President Borge Brende and other high-level representatives to discuss Qatar's buoyant ecosystem, and how Qatar can contribute to the WEF agenda. As a member of the World Economic Forum, the QFC is continually working towards engaging with international stakeholders that share the same vision of helping to shape global, regional and industry agendas."

Al Jaida added: "The WEF has made great strides in providing a platform for leaders across a variety of groups such as business and government to come together in a positive way. Through Qatar's continued involvement with WEF, we are able to build on the work we are doing with other member organizations to impact positive global change."

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 percent foreign ownership, 100 percent repatriation of profits, 10 percent corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries. (QNA)

Cover image credit: Financial Economy Blog