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Qatar To Permit Foreign Investment

by Lorys Charalambous, for LawAndTax-News.com, Cyprus

04 April 2005

It emerged last week that that Doha Securities Market will now be open to foreign and expatriate investors.

Under the previous regime, only Gulf nationals could purchase shares.

At a press conference held on Thursday, DSM officials predicted that around 300,000 foreign institutional investors, non-resident individuals and expatriates would take advantage of the more open regime by registering with the exchange and opening trading accounts.

Minister of Economy and Commerce, Shaikh Mohammad Bin Ahmad Bin Jassim Al Than told reporters that the move was intended to boost Qatar's economy by attracting investment.

"If you want to be part of the global economy, you have to be an open economy. And this is a step in that direction," he announced.

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