IPA Qatar signs investment deals with Green Boom and PricewaterhouseCoopers at Qatar Economic Forum
22 June 2022
22 June 2022, Doha – Qatar: Investment Promotion Agency Qatar (IPA Qatar) announced the signing of two Memorandums of Understanding (MoUs) with international companies today on the sidelines of the 2nd edition of the Qatar Economic Forum powered by Bloomberg being held in Doha from June 20 to 22.
The MoUs with Green Boom, a leading U.S. based manufacturer of bio-degradable absorbents; and PricewaterhouseCoopers (PwC), a global leader in professional business services will enable these leading international companies to deepen their presence in Qatar creating over 200 new jobs and several major investment, development and training projects.
IPA Qatar’s partnership with Green Boom will facilitate the introduction of the company’s green cutting-edge technologies to the Qatari market through the setting up of a manufacturing plant and regional distribution centre to serve the Middle East, North Africa and India. In addition to introducing new technologies and accelerating innovative manufacturing in Qatar, the partnership also entails fostering local talent and creating approximately 100 new jobs.
The MoU signed between IPA Qatar and PwC sets the framework for collaboration on promoting Qatar to global investors through joint marketing activities, exchanging knowledge and best practices on FDI promotion and attraction, and facilitatingthe expansion of PwC’s team and operations in Qatar creating approximately 100 new jobs.
Sheikh Ali Alwaleed Al-Thani, CEO, IPA Qatar, said: “These two new partnerships further cement Qatar’s growing reputation as a thriving and supportive international business hub and are testament to the country’s unwavering commitment towards developing a sustainable, knowledge-based economy. IPA Qatar is proud to partner with these two global leaders in their fields and we look forward to supporting their operations in Qatar and working closely with them to further develop Qatar’s rapidly growing economy.”
Sudhir Sharma PhD, Co-Founder and CEO, Green Boom, said: “Green Boom is excited to take this step towards creating a presence in the Middle East where our innovative products will make a meaningful impact protecting the environment. The support of IPA Qatar is crucial to our plans and we thank Sheikh Ali and the many members of the IPA Qatar staff who have supported and continue to support us in our efforts here.”
Bassam Hajhamad, Qatar Country Senior Partner at PwC Middle East said: “We are delighted to partner with the Investment Promotion Agency Qatar (IPA Qatar). PwC in Qatar has played an integral role in building trust and solving our clients' most important problems. This milestone agreement is a testament of our strengthening partnership between our two organisations and our shared commitment towards investing and partnering with local Qatari businesses in supporting them achieve local and global growth.”
Expanding business horizons
Strategically located at the gateway between East and West, Qatar represents a dynamic launchpad for businesses to engage customers across the World, having strong connections to markets in Africa and Asia, and investment protection ties with many countries around the world, including the EU and China. The country is constantly expanding the opportunities for international companies looking to establish their presence in, or extend their reach to, Qatar and the region. This is made possible through future-ready digital and physical infrastructure, a supportive business environment, and a young and highly educated talent pool that together form the most empowering and business-friendly climate in the region.
As the custodian of the Invest Qatar brand, IPA Qatar acts as a gateway to all investment solutions in Qatar, representing the single point of contact on a national level to network with international organisations, offering them world class support to set up their businesses in Qatar. Since its inception, IPA Qatar has been actively engaging with local, regional, and international business communities, embarking on significant partnerships. The most recent include Iberdrola, Business France, German Federal Association for SMEs (BVMW), Credit Suisse, among others. In this context, and given the mutual interest and goals, the cooperation with Green Boom, and PricewaterhouseCoopers comes as a natural extension to explore new horizons of knowledge, expertise, and best practices, in addition to setting the framework for business expansion.