DOHA: No foreign company will be allowed to set up operations in the country without having at least a 30 percent joint venture with a local company.
Any foreign business setting up operations in Qatar will not be allowed more than 70 percent ownership as it must give away at least 30 percent equity to a Qatari company. According to an Al Sharq report, the Prime Minister and Minister of Interior H E Sheikh Abdullah bin Nasser Al Thani, issued directives to the effect.
The aim is to encourage the private sector and push the local market up. The daily said there will be no exception to this rule except when the Premier decides otherwise. The private sector has welcomed the move.
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