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The international consortium “Al Jabor – Eurolink Investment Group” is looking to assign reputable Bulgarian and International civil engineering and construction companies for civil engineering, infrastructure, public and private works in the state of Qatar.

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Bulgaria keen to take part in World Cup projects in Doha

Bulgaria will be interested in taking part in projects that are related to 2022 FIFA World Cup in Doha, said the country’s Minister of Economy and Energy, Dragomir Stoynev.

“Bulgaria can assist Qatar in organising the event by providing goods, construction materials and skilled workers. Bulgarian companies have proven professionalism in the construction of highways, office builds and shopping centres,” said Stoynev, who believes the key sporting event will provide tremendous opportunities for firms in his country.
In an interview with Gulf Times in Doha yesterday Stoynev said there was “considerable potential” for the development of trade and economic co-operation between Bulgaria and Qatar. “To expand our bilateral trade and economic cooperation, we have decided to open a Commercial and Economic Section in our embassy here,” Stoynev said.
He said several sectors can provide enhanced trade and co-operation between the two countries. These include light industry, energy, tourism, agriculture and food processing, automotive, machinery, information and communication technology, engineering and consulting.

Bilateral trade between Qatar and Bulgaria stood at $11.7mn in the first nine months of 2013.
“This is not significant. But the bilateral trade has seen a three-fold growth in the last three years. It stood at only $3.3mn in 2011,” the minister pointed out.

He said bilateral trade has greater prospects given the efforts of the Bulgarian-Qatari Joint Commission (on economic and trade co-operation). Diversifying trade flows between the two countries and including new products in the list of traded goods will also enhance bilateral trade.

“We can offer Qatar high quality lamb, mutton, poultry, cereals, mineral water, high quality ferment cultures for dairy products, construction materials, medicines, electrical and electronic equipment,” Stoynev said.
He said Bulgaria looked forward to signing an agreement with Qatar for the establishment of a joint investment company (dealing with livestock). This is currently being negotiated with Hassad Food.
Stoynev said Bulgaria provided “ideal investment opportunities” for investors including those from Qatar. The country has the lowest budget deficit and public debt in the EU region. Although lower than the pre-crisis years, Bulgaria’s GDP growth in recent years is above the EU average. “We also continue to apply the lowest tax rates in Europe. Corporate tax and personal income tax is only 10%, 5% tax on dividends and 0% tax on reinvested earnings in some 160 municipalities with high unemployment,” Stoynev said.
“As an EU member, Bulgaria can be the gateway for Qatari goods to the European market of more than 500mn customers,” he said.
Stoynev also said Bulgaria strongly supported a free trade agreement between EU and the GCC.

Direct flights between Doha and Sofia urged

Bulgaria has urged Qatar to consider direct flights between Doha and Sofia, the European country’s Minister of Economy and Energy Dragomir Stoynev has said. “Currently, Qatar Airways flies to Sofia with a stopover in Bucharest,” he said.

The minister said Qatar has expressed willingness to consider the direct air link request.
He said tourism is an important sector for Bulgarian economy and accounts for more than 13% of the country’s GDP. In the first nine months of 2013, some 6mn tourists visited Bulgaria, up 5.5% on the same period in 2012. As many as 221 Qatari tourists visited Bulgaria last year (until November 2013). In 2011, the number of Qatari tourists stood at only 50.

Being an EU member country, visitors with a Schengen visa can enter Bulgaria, Stoynev said.


Reuters: Qatar plans to spend more than USD125 billion in 2011-2016

Qatar plans to spend more than USD125 billion in the next five years on construction- and hydrocarbon-related projects, according to the Gulf-state’s new national development strategy for 2011-2016 released on Monday. Qatar’s economy is expected to grow by 15.7% in 2011, before slowing down to 7.1% in 2012. The 7.1% economic growth for 2012 forecast is based on “a price of oil that is now higher”, Secretary General at the General Secretariat for Development & Planning, Ibrahim al-Ibrahim, was quoted as saying. We are forecasting a higher nominal growth rate of 22.5% in 2011, likely as a result of higher energy prices. The government scenario is based on average oil prices of USD86/barrel. Our 2012 growth forecast is similar at 8.2%.

The medium-term outlook continues to reflect the strong investment outlook, led by public sector activity. There continues to be a focus on hydrocarbon-linked investment, but there is a strong focus on wider infrastructure development, in line with hosting the 2022 FIFA World Cup.

It is believed that with an increasing shift to infrastructure projects, as LNG-related projects are being completed, domestic funding will become more important. Qatar plans to invest over QAR130 billion (USD35.7 billion) in 2011-2016 through its state-linked companies, including about QAR100 billion by Barwa Real Estate Company (BRES.QA) and Qatar Diar for residential and business construction projects. Qatar Petroleum and its subsidiaries are expected to spend a further QAR88 billion. State infrastructure spending will likely exceed USD67 billion, including roads, port, power and water, according to the document. We expect to see real non-oil GDP averaging around 10% in 2011-2013. The strong investment activity and 2022 FIFA World Cup infrastructure spending should now result in a higher medium-term real non-oil GDP growth of around 8-13% in 2015-2019.

Project Qatar 2012 – The Most Sought-After Construction Event in the Region

Held at the heart of the region’s construction hub, where demand is constantly peaking, Project Qatar 2012 the 9th International Trade Exhibition for Construction, Electricity and Environmental Technology, attracts key buyers looking for the most up-to-date technology and state-of-the art equipment available on the market.

Project Qatar 2012, held from April 30 to May 3,2012 at the Doha Exhibition Center, is a destination of choice for professionals from all over the region. This exciting platform for leading international construction industry firms and investors offers top-class exposure to premier regional agents, dealers, buyers and distributors.

Held concurrently with Project Qatar, Qatar Stone Tech 2012, the International Stone and Stone Technology Show, is bringing together top distributors, suppliers, manufacturers, agents and engineers from all over the world. Heavy Max 2012, the international exhibition for heavy machinery, an ideal platform for much-needed products to meet the demand of a billion-dollar-value construction market will also run concurrently with Project Qatar 2012.

The organizers of the event have extended their invitation to Bulgarian engineering, construction and other companies to participate at the exhibition, which will take place in Doha.