Local businessmen and investors have welcomed the law issued on income tax exemption saying it would attract investments into the country. H H the Emir Sheikh Hamad bin Khalifa Al Thani issued on Wednesday law No. 20 of 2008 exempting from income tax the share of profits of non-Qatari partner in some Qatari shareholding companies. The law would encourage foreign investments into the Qatari market and expect a surge of investments in the near future in to be expected, investors said. Ibrahim Mohammed Alhaj Eid, partner of Grant Thornton Chartered Accountants and Corporate Finance firm said the law will benefit the country's economy as a whole "The law is excellent and would encourage foreign investments in various fields in the local market particularly with regards to shareholding companies," he said. Alhaj also pointed out that Qatar is currently exerting efforts to attract capitals in industrial and services sectors which would contribute to the country's economic growth. Local businessman and investor Abdullah Abdel Aziz Al Khater said the income tax exemption law related to some shareholding companies will have a positive impact in boosting global investments in the country. He said the law will help boost Qatar's appeal as one of the region's most active markets in attracting investments and also contribute in increasing liquidity in the market with the influx of new investors. The Pen

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