BE2C2 Report — Qatar has introduced arbitration as a means to help resolve economic and commercial business needs, likely to prove an attractive offering for international companies doing business or intending to do business in the Sultanate.
The Qatar International Court and Dispute Resolution Centre (QICDRC) hailed the publication of the alternate dispute resolution law (Law No 2 of 2017) issuing the Arbitration Act in Civil and Commercial Matters.
Faisal Al Sahouti, the CEO of QICDRC said the new law is intended to meet the economic and commercial needs of Qatar and those doing business in the country, The Peninsula reported.
The issuance of the law comes at an important time, as arbitration is a sought after method for resolving international commercial disputes in Qatar.
Based upon the UNCITRAL Model Law, the new law will, among other things, give the Civil and Commercial Court at the QICDRC supervisory jurisdiction over arbitration where the parties elect it.
Qatar last month introduced new Kafala sponsorship laws in a move to make it easier for millions of migrants to switch jobs and leave the country.
In an unrelated development, Qatar’s World Cup 2022 organizers have awarded the main construction contract for one of their final tournament stadiums capable of seating more than 40,000 football enthusiasts.
The Al Thumama stadium will be built by a joint venture between Qatar’s AlJaber Engineer (JEC) and Turkey’s Tekfen Construction.
The selection of the Turkish firm comes as ties between Qatar and Turkey grow increasingly stronger, Doha News reported.