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HSBC says SMEs in Qatar expect increase in capital expenditure.

Global Banking News-4 February 2010-HSBC says SMEs in Qatar expect increase in capital expenditure(C)2010 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 04 February 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

HSBC Holdings (LSE: HSBA) has said that its survey has indicated that most SMEs (small and medium enterprises) in Qatar would need higher capital expenditure.

According to the survey, 78 per cent of the companies surveyed expect an increase in capital expenditure because of economic diversification and growth projections in the country. About 300 small and medium enterprises in Qatar were covered in the survey.

HSBC Qatar's chief executive officer, Abdul Hakeem Mostafawi, said, 'A vast majority of the SMEs surveyed - 79% are optimistic about the economic growth. This is mainly supported by the real GDP growth forecast of more than 20% in 2010. We see overall development in Qatar. A new airport and seaport are being built. Significant energy projects and infrastructure upgrade are underway in Qatar.'

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Publication:Global Banking News (GBN)
Date:Feb 4, 2010
Words:187
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