Joint SPIEF and Doha Forum Session on Venture Investments Takes Place in Doha
On 14 December, a joint panel session between SPIEF and Doha Forum on ‘Developing the High-Tech Sector in Russia: Prospects for Venture Investment’ took place on the sidelines of the Doha Forum in the Qatari capital. The session was held with the support of the Embassy of the State of Qatar in Moscow and the Qatar–Russia project office.
The session was attended by partner of the Kama Flow venture investment fund Denis Krasnenkov, Co-Founder and Managing Partner of Almaz Capital Alexander Galitsky, head of Qatar Investment Promotion Agency Sheikh Ali Alwaleed Al Thani, and founder and Executive Chairman of Senseta Dr. Khalid Mohammad Al-Ali.
The participants discussed areas of joint work between Russia and Qatar to support innovative companies. An initiative to create a venture fund for investing in priority innovative companies with the support of the Roscongress Foundation was announced at the session. The Roscongress Foundation, as a socially oriented non-financial development institution, places a special emphasis on innovation trends within its ecosystem. The creation of a venture fund will facilitate the rollout of innovative Russian startups onto the international market, the realization of Russia’s potential in the R&D sector, and the global spread of Russian technologies.
“In the modern world, no single country has a monopoly on the creation or the use of innovations. The development and implementation of technologies is, by its very nature, a global phenomenon. An idea that emerges in one corner of the globe is transformed, developed and put into practice all over the world. Qatar is a clear example of how the state can aid technological developments, supporting high-tech companies both through investments in their development and by means of information support and promotion on the global market,” said Alexander Galitsky, Co-Founder and Managing Partner of Almaz Capital.
On the same day, the Roscongress Foundation and the Qatar Investment Promotion Agency signed an agreement on the creation of a joint working group to coordinate investment activities and business projects. The signing ceremony took place with the support of the Embassy of the State of Qatar in Moscow and the Qatar–Russia project office. The document was signed by Chairman of the Board and CEO of the Roscongress Foundation Alexander Stuglev and head of the Qatar Investment Promotion Agency Sheikh Ali Alwaleed Al Thani.
The working group was created with the aim of identifying and exchanging investment opportunities and projects, as well as bringing in investors and partners to support and promote projects in priority areas such as banking and insurance, infrastructure, energy, sport, and tourism.
“Creating the working group will allow us to share information on promising investment projects in both countries, to exchange analytical, statistical and legal information, and to provide mutual support for companies seeking to enter Russian and Qatari markets. We hope that our joint work will allow us to implement a full raft of projects and will facilitate growth in trade and economic cooperation and mutual investment between our countries,” Alexander Stuglev said.
The head of the Qatar Investment Promotion Agency His Excellency Sheikh Ali Alwaleed Al Thani said: “It goes without saying that we are delighted to sign this cooperation agreement with the Roscongress Foundation on the sidelines of the 19th Doha Forum. Significant efforts have been undertaken to demonstrate Qatar’s attractiveness for foreign direct investments since the creation of the Qatar Investment Promotion Agency in July, and this agreement is a major step in that direction. Furthermore, Qatar and Russia have maintained close bilateral ties for over 30 years now, and this cooperation agreement will help to further our joint work in implementing mutually beneficial investment projects.”
His Excellency Fahad bin Mohammed Al-Attiyah, Ambassador Extraordinary and Plenipotentiary of the State of Qatar to the Russian Federation, commented: “In 2020 Qatar will participate in the leading event on the Russian business calendar, the St. Petersburg International Economic Forum, as a guest country by invitation of President Vladimir Putin. The signing of a cooperation agreement between IPAQ and the Roscongress Foundation is an important step in implementing bilateral cooperation as part of preparations for SPIEF 2020 which will, I hope, help to strengthen bilateral ties at all levels.”
In 2020, Qatar will take part in SPIEF with honorary guest country status. This status involves the participation of an official delegation in SPIEF at the very highest level, as well as a representative business delegation and intensive business dialogue.