News

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QFC aims for QAR 91 billion of foreign direct investments by 2022

The Qatar Financial Centre (QFC) aims for QAR 91.25 billion (USD 25 billion) of foreign direct investments (FDIs) by 2022. It will translate into the creation of 1,000 new companies and over 10,000 new jobs in the State of Qatar.

These ambitions were announced a week after diplomatic, trade and travel ties were reinstated between neighbouring countries in the GCC....

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21/01/21

MoCI announces investment opportunities to develop beach resorts in Qatar

The Ministry of Commerce & Industry (MoCI) has announced investment opportunities for the private sector to develop three beach resorts in Fuwairit, Ben Ghanem and Ras Abrouq.

The joint initiative, a cooperation between the MoCI and the Qatar National Tourism Council (QNTC), is the first of its kind and falls within the...

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19/01/21

QFTH hosts demo day for first wave and unveils second wave

Qatar FinTech Hub (QFTH) has announced that demo day for the first wave of its incubator and accelerator programmes will take place virtually on the 18th of January, 2021. The initiative is supported by Qatar Development Bank (QDB), Qatar Financial Centre (QFC) and Qatar Central Bank (QCB).

It will be one of the biggest fintech events in the region and is set to be a platform for the key players...

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17/01/21

MOTC highlights role of new technologies

The Ministry of Transport & Communication (MOTC) is contributing to a vibrant information and communications technology (ICT) sector in the State of Qatar.

The most recent virtual forum with the title “New Technologies and Digital Transformation” emphasized the role of new technologies in accelerating the digital transformation. It discussed the concepts, policies, tactics and strategies, challenges...

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14/01/21

Qatar Chamber expects a year of economic recovery in 2021

Qatar Chamber's Research and Studies Department expects 2021 to be a year of recovery for Qatar's economy (from the impact of Covid-19) with an increase in the GDP of 2.2% compared to a decrease of 2.6% in 2020 according to the budget's main indicators.

The budget for 2021 anticipates a total revenue of QAR 160.1 billion (USD 43.9 billion) and total expenditures of QAR 194.7 billion (USD 53.3 billion)...

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12/01/21

Normalisation of relations to help Qatar’s non-oil economy

The normalisation of the relations between the State of Qatar and the neighbours in the region following the signing of the Al-Ula Declaration at the 41st session of the Supreme Council of the Co-operation Council for the Arab States of the Gulf (GCC) is seen as the “beginning of the openness”.

The objectives of the GCC to cooperate, integrate, advance and enhance have been emphasized at the...

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10/01/21

QFC contributes 1% to Qatar’s gross domestic product

The Qatar Financial Centre (QFC) contributes 1% of Qatar’s gross domestic product according to the release of a report titled ‘The Economic Impact of Qatar Financial Centre’.

The report measures the QFC’s economic impact in different types of contributions from direct impact created by the QFC to indirect impact through the local supply chains and the employee...

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07/01/21

Qatar invests in youth development and empowerment

In line with the Qatar National Vision 2030 the country focuses on youth development and empowerment through entrepreneurship and many other means as it looks to diversify the economy.

The State of Qatar and the key stakeholders in the public and private sector in the country have invested in incubators, accelerators and competitions,...

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05/01/21

Qatar passes (new) laws to improve the ease of doing business

The State of Qatar has advanced and enhanced the legal framework in the past year with the aim and intention to simplify the processes, policies and procedures, to be more attractive for foreign investors and to cut red tape. With the 2022 FIFA World Cup fast approaching there will be more significant updates in 2021 which will benefit those who are doing business in the country.

One of the most...

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03/01/21

Qatar`s ICT adoption second in the Arab world

Qatar has one of the world`s highest internet adoption rates and ranks among top countries in terms of acceptance of information and communications technologies (ICT). The government has invested substantially in 5G technology and Ooredoo was the first in the world to launch the commercially-available 5G services.

According to the World Economic Forum’s Global Competitiveness Report Special Edition...

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31/12/20

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