Qatar to invest 300 million USD in the Cancun – Riviera Maya area

A group of investors from the Middle East along with Ahmed Bin Abdullah Al Kuwari, Ambassador Extraordinary and Plenipotentiary of the State of Qatar in Mexico, visited Cancun to make an approach with the government of Quintana Roo and discuss the possibility of working together in projects that may lead to a 300 million USD investment in the Mexican Caribbean.

During his first visit to Cancun, the diplomat stated that his efforts will be directed on strengthening investments between both countries through alternate industries, besides the energy sector.

Original image: “Cancun Strand Luftbild”, by F. ermert, used under CC BY 2.0license, via Flickr.

“Since President Peña Nieto met with Qatar’s Sheikh Bin Hamad Al-Thani last year, an important part of the bilateral relation between our two countries is the interest we have in the Cancun area”,  said the ambassador during a press conference.

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Original image: Twitter Oficial de Fotografía de Roberto Borge, Gobernador de Quintana Roo

Abdullah Al Kuwari said that one of the main objectives of this business travel to Cancun is to consolidate projects related to the tourism industry, besides the construction of hospitals and sport arenas during the next 10 years.

To make it formal, the ambassador signed an intention letter with the governor of Quintana Roo, Roberto Borge Angulo.

“We like Cancun as a destination for our investments”, Al Kuwari said and added that one of the projects involves the construction of the most luxurious hotel in the city, plus the creation of a new flight from Cancun to Qatar, air connection that has been tried to concrete without success for a number of years now.

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Original image: Twitter Oficial de Fotografía de Roberto Borge, Gobernador de Quintana Roo

Abdullah Al Kuwari also made the commitment to take a group of entrepreneurs from Quintana Roo to Qatar to explore the business opportunities that the Middle East country has to

There are about 83 projects that Qatar has opened for foreign investors, most of them related to the FIFA’s World Cup 2022. But there are other business oportunities that may be interesting for Mexican investors, mostly from the health sector in which investors can own a 100 percent of the properties and being exempt from paying taxes.