News

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Qatar to launch FinTech Venture Capital Fund to support the ecosystem

Qatar is making considerable progress towards developing a more competitive FinTech ecosystem.

The National FinTech Strategy was published in 2019 and the Qatar Fintech Hub (QFTH) was established soon after. The QFTH supports the initiatives of Qatar Central Bank (QCB) and manages its incubator and accelerator programs.

To further the development of the ecosystem,...

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07/03/21

Qatar makes remarkable progress in the fintech sector

Qatar has made remarkable progress in the fintech sector and is accelerating the ecosystem. In order to advance and enhance the development of the sector, the key stakeholders have published the Qatar National Fintech Strategy (QNFS) 2020 with the establishment of the Qatar FinTech Hub (QFTH) in a very central role.

The QFTH aims and intends to aid the digital transformation...

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04/03/21

Qatar to be top LNG producer for at least two decades

Qatar aims to be the world’s biggest producer of liquefied natural gas (LNG) for at least the next two decades. The country will spend billions to develop the North Field and to increase the capacity by more than 50% to 126 million tons per year.

The country is already a major supplier of LNG and is looking at rising demand as the world transitions from oil and coal to cleaner energy.

State...

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02/03/21

MME successfully promotes the sale of local fruits and vegetables

Qatar has seen a significant increase in the volume and value of locally produced fruit and vegetable sales in the recent past with over 23,565 tons of local produce sold in 2020 and over 3,752 tons in January 2021.

This success story is partly due to the introduction of the “Premium Qatari Vegetable” marketing campaign. The initiative was launched by the Ministry of Municipality and Environment...

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28/02/21

Businesses shall be prepared for updates in the tax system in Qatar

Qatar is getting ready to implement a Value Added Tax (VAT) and the private sector has been urged to prepare for it accordingly. It is advised to be VAT ready at least six to nine months before the implementation.

Qatar signed the Gulf Cooperation Council (GCC) VAT framework in 2016 and has seen the establishment of the General Tax Authority (GTA) which has been...

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25/02/21

MOCI announces services for formation, renewal and cancellation to be online only

The Ministry of Commerce & Industry (MoCI) has announced that the services related to company formation, renewal and cancellation will be available online only.

From Sunday, 28th of February, 2021 the Single Window platform...

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23/02/21

Growth of the sports industry in Qatar and the GCC to be faster than elsewhere

It is expected that the sports industry in Qatar and the GCC will grow faster than elsewhere. A recent survey conducted by PwC painted a picture of the industry in Qatar, United Arab Emirates, Saudi Arabia and Bahrain.

The sports industry in the Middle East is expected to grow by 8.7% over the next three to five years while the global sports industry is expected to grow by 3% in the same time. The...

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21/02/21

AI and other new technologies to accelerate the growth

The Ministry of Transport & Communication (MOTC) recently organized a webinar on 'Knowledge Mining & Artificial Intelligence'. It is anticipated that artificial intelligence (AI) will significantly contribute to the growth of businesses in different shapes and sizes from start-ups and scale-ups to multi-national corporations around the world.

The panel discussed...

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18/02/21

Qatar’s e-commerce market sales to exceed QAR 11.7 billion

Qatar’s e-commerce market is developing and is expected to exceed QAR 11.7 billion (USD 3.2 billion) by 2022 compared to QAR 4.7 billion (USD 1.3 billion) in 2017. Over 350 e-commerce websites have been registered with the Ministry of Transport & Communication (MOTC) so far. The development of the sector has many reasons.

Qatar has one of the world`s highest...

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16/02/21

QDB concludes events related to the first Qatar Virtual Exhibition

Qatar Development Bank (QDB) recently concluded the first Qatar Virtual Exhibition (QVE) which brought together small and medium sized enterprises (SMEs) from the State of Qatar and international distributors, contractors and buyers. The event explored import and export opportunities, strategic partnerships and market accessibilities.

Qatar Development Bank (QDB)...

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14/02/21

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