Economic transformation with research, development and innovation

13/12/20

The Qatar National Vision 2030 has identified research, development and innovation as a key part of the country`s economic transformation.

The Oxford Business Group (OBG) in collaboration and cooperation with the Qatar Science and Technology Park (QSTP) recently published a comprehensive COVID-19 Response Report (CRR) which highlighted the many opportunities and possibilities in Research, Development and Innovation (RDI).

The in-depth analysis of Qatar's response to the pandemic explicitly explored RDI. It`s findings demonstrate the progress and emphasize the attractiveness for new investments in technology development and implementation through entrepreneurship.

Further, the CRR documents the engagement and involvement of QSTP in promoting and supporting Qatar’s efforts to diversify the economy and to develop an effective RDI ecosystem. FinTech is one of the ares or fields mentioned in the report. It is complemented or supplemented with an insight into the successful efforts to increase the self-sufficiency as firms continue to strengthen local supply chains in response to the disruption in global supply chains due to the pandemic.

In order to improve the competitiveness, Qatar has introduced policies focused on developing and expanding the most important sectors of the economy. These include the infrastructure, healthcare, information and communication technologies as well as manufacturing.

Further supported by Qatar Development Bank (QDB) the State has continued to build a strong entrepreneurial sector and a competitive business climate.

The country is a very prominent and popular destination in the region due to its resilience, economical foundation, financial stability, regional and international connectivity and natural resources as well as the licensing platforms, regulatory environment, competitive taxation, highly skilled talent, diversified culture and customs and many other factors.

In line with Qatar’s efforts, the International Monetary Fund expects the country`s economy to return to economic growth in 2021 and the World Bank Group considers the country’s economy to be tenth most competitive economy worldwide and the country as one of the top twenty global business environment improvers.

Please click on the link and reach out to learn more about opportunities and possibilities in the State of Qatar and Business Start Up Qatar.

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