Invest Qatar, Boeing Sign MoU to Drive Aerospace Industry Growth

Doha, May 15 (QNA) - The Investment Promotion Agency Qatar (Invest Qatar) and Boeing have recently signed a Memorandum of Understanding (MoU) during the Qatar Economic Forum to establish a permanent legal entity, Boeing Aerospace Doha LLC, in Qatar.

The new Boeing hub will focus on strengthening the local aerospace sector through research and technology advancements, fostering innovation and support for start-ups, as well as driving and developing sustainable aviation. Additionally, the hub will build a local skilled workforce that can contribute to the sector's long-term success. Boeing's new entity will complement the work carried out through its existing Qatar branch companies, Boeing Qatar Inc. and Boeing International Corporation.

Sheikh Ali Alwaleed Al-Thani, CEO, Invest Qatar, said: "We are pleased to partner with Boeing, to further deepen their footprint in Qatar. This collaboration underscores the wealth of opportunities Qatar offers to businesses, enabling them to pursue a sustainable growth journey. It is a testament to the country's business-friendly environment, tailored to accommodate the evolving needs of investors, affirming Qatar's standing as a unique business hub." Kuljit Ghata-Aura, President of Boeing Middle East, Turkiye, Africa and Central Asia, said: "We value the unwavering support from the Government and Invest Qatar in helping us pursue new opportunities in the country. This expanded collaboration will consolidate our position as the leading aerospace partner to Qatar, providing societal and economic benefits in line with Qatar's third National Development Strategy and the Qatar National Vision 2030." The long-term collaboration between Invest Qatar and Boeing will further magnify and expedite Boeing's strategic efforts to contribute to Qatar's economic diversification and competitiveness. Since 2006, Boeing's partnership with Qatar has grown, with involvement in all sectors of aerospace and an expanding workforce of over 360 employees.

Qatar Airways operates more than 150 Boeing airplanes, including 123 Boeing passenger airplanes, 29 freighter airplanes; with another 112 on order. Qatar Airways is also one of the launch customers for the Boeing 777X, the world largest and most efficient twin engine jet. In addition to providing support to its customers, Boeing works closely with education, research, and non-profit organizations in Qatar, investing USD1.5 million in STEM education and workforce development since 2009.

Invest Qatar is responsible for overseeing investment promotion activities, aimed at attracting foreign direct investment to Qatar. Established in 2019, Invest Qatar's mission is to strengthen Qatar's position as an ideal investment destination, while facilitating investments that foster economic diversification and development. (QNA)