Qatar industry ‘big guns’ attend roundtable meeting with Anwar

DOHA: Estithmar Holding and Baladna are among Qatar’s largest companies by market capitalisation that attended a roundtable meeting hosted by Malaysia’s Ministry of Investment, Trade and Industry (MITI).

Established in 2014, Baladna, a public shareholding company, is Qatar’s largest dairy and beverage producer, supplying over 95% of the country’s fresh milk.

Meanwhile, Estithmar Holding is a Qatari public-listed company with a diverse portfolio of 51 companies operating in four strategic sectors: healthcare, services, contracting, industries, and ventures.

More than 30 top executives and business leaders took the opportunity to meet with Prime Minister Datuk Seri Anwar Ibrahim.

He briefed them on the latest investment climate in Malaysia.

Anwar, who is also the Finance Minister, is currently on a three-day official visit to the capital as part of his mission to increase Malaysia’s visibility as a potential investment destination for the Qataris.

The companies that attended the roundtable were mostly from the services, manufacturing, and investment sectors.

Other companies that attended include Taleb Group, Morex Group, Tamam Capital and Al Mana Group.

Anwar spent about one hour in an interactive session to update Qatari businessmen on the Malaysian economy, business ecosystem as well as the New Industrial Master Plan 2030.

The session was moderated by MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Apart from attracting potential investments, Malaysia is also keen to woo more of the Qatari business community to source more products and services from Malaysia.

Malaysia and Qatar are celebrating the 50th anniversary of bilateral trade this year.

Last year, Malaysia’s total bilateral trade with Qatar amounted to RM4.2bil. The Gulf state became Malaysia’s fifth-largest trading partner, sixth-largest export destination and sixth-largest import source from the West Asia region.

From January to March 2024, Malaysia’s total trade with Qatar increased by 178.4% to US$303.9mil (RM1.43bil) compared with US$116.7mil (RM514.9mil) for the corresponding period in 2023.

According to the International Monetary Fund, Qatar is among the richest countries in the world, with a per capita income of nearly US$96,610 in 2020.

It was reported that petroleum and natural gas are the cornerstones of its economy, with Qatar home to one of the world’s largest reserves of natural gas. – BK