QC urges businesses to harness investment opportunities in sports

01/06/2016 08:07 AST

A private sector group is coordinating with ministries concerned for the staging of international exhibitions for sports companies to provide local businesses access to business opportunities related to Qatar’s hosting of the FIFA World Cup in 2022, an official of the Qatar Chamber (QC) has told Gulf Times.

At the same time, QC vice chairman Mohamed bin Towar al-Kuwari said QC is encouraging local businessmen and companies to “bring new ideas and examine the opportunities” presented by HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani during the recently-held “Sport Investment Opportunities Forum.”

“Apart from the efforts of Qatar Chamber, in the private sector, we have a group that has proposed to the Ministry a plan to host exhibitions related to sports to widen opportunities for the private sector to participate in a range of investments in sports business.

“We are now coordinating with the Ministry to develop this idea to invite international sports companies and gather them in one major exhibition, which would be hosted in Qatar. “Business opportunities are not only confined to infrastructure projects but also in sports tourism and other related sectors,” al-Kuwari explained, adding that the QC will also form a committee dedicated to organising exhibitions for sports companies.

During the forum, the minister announced that the private sector can tap into as much as QR72bn worth of investment opportunities from sports and sports-related industries. He also said the ministry has collaborated with other local ministries, government institutions, and other agencies to develop the “Qatar Gathering for Sports Business,” which aims to support small and medium-sized enterprises (SMEs) and other companies to invest in the sport sector, particularly in mega projects related to the 2022 World Cup.

Speaking to Gulf Times yesterday, Qatar Extreme Sports (QES) founder and entrepreneur Farhan al-Sayed stressed that the forum “will create a significant impact among international sports organisations that want to be connected with Qatar.”

“Global sports companies and international sports events organisers are all interested to come to Qatar, which I consider as the sports capital of the region, because they want to be part of all the business activities and contracts related to the World Cup.

“The Ministry’s sport investment opportunity initiative will bring the country closer to realising the objectives of the Qatar National Vision 2030 and make it successful,” al-Sayed said. He added: “Qatar hosted the Asian Games in 2006, the second largest sporting event in the world. It only showed that early on, Qatar already had the vision to become a world-class sports destination.

“The event was successfully held 10 years ago and this achievement only proves that Qatar is more than capable of hosting not only the FIFA World Cup in 2022 but other major sports competitions.”

Gulf Times