Qatar Chamber, Venezuela Discuss Investment Opportunities

Doha, July 05 (QNA) - Qatar Chamber of Commerce and Industry (QCCI) discussed means and mechanism of guiding Qatari businessmen to invest in Venezuela in fields of oil and gas fields, infrastructure projects, gas extraction and exportation, as well as enhancing cooperation between the two countries' private sector. This came during a meeting held here on Wednesday between QCCI Vice-President, Mohamed bin Twar Al Kuwari and the Deputy Minister of Oil and Gas of the Republic of Venezuela, Douglas Sosa, which discussed prospects for cooperation between the private sector in both countries, QCCI said in a press release. QCCI Vice-President emphasized the role of Qatar Chamber in encouraging Qatari businessmen to explore investment opportunities available in Venezuela and exchange experiences between the two sides in the field of oil, gas and other sectors, expressing hope that the coming period will witness alliances between Qatari and Venezuelan companies aimed at benefiting economies of both countries. For his part, the Venezuelan official called on Qatari businessmen and companies to explore investment opportunities in gas and oil sector in his country. He praised Qatar's great experience and leading position in the production of gas globally, calling for an extensive meeting with Qatari businessmen to brief them of the available opportunities in his country. Venezuela has large reserves of gas both inside and outside the sea and has proven reserves of 400 trillion cubic feet (tcf) of gas reserves, he said, stressing that Qatari companies can be present in the Venezuelan market along with the Italian and French companies engaged in exploration and extraction of gas. There are promising opportunities in this field that Qatari businessmen and investors can seize, he added, noting that there are significant investment opportunities in the production of methanol, urea and all petrochemical products for Qatari investors. On the investment climate in Venezuela, the Deputy Minister of Oil and Gas said his country has encouraging investment legislation and laws, which protect foreign investments along with facilities to establish business. Qatari businessmen can establish projects and companies without the need for a Venezuelan partner, he concluded. (QNA)