Multi-sector reforms are key to recover from pandemic in Qatar


Qatar`s economy is expected to grow by 2.4 percent in 2021 according to a report of International Monetary Fund (IMF) released in April.

The banking sector has already witnessed considerable lending growth of more than 5 percent during the first four months of this year and Qatar’s trade surplus has tripled in April 2021 compared to April 2020. The North Field Expansion (NFE) project and the increase in liquefied natural gas (LNG) capacities is part of the budget of QAR195 billion (USD 53.4 billion) for 2021 and will stimulate the economy of the State of Qatar.

The economic recovery is related to the early stimulus measures introduced by the government of the State of Qatar to mitigate the pandemic. In April 2020, Qatar announced extensive support for the private sector. More than 4,000 businesses have taken advantage of the national response guarantee program administrated by Qatar Development Bank (QDB) since the launch. QDB allocated guarantees of QAR 3.2 billion (USD 876 million) to local banks.

Further, the government implemented reforms and opened additional sectors to foreign investors. The foreign ownership rules were relaxed and simple online administration processes were introduced. It is in line with the intention to attract more foreign direct investment especially in the priority sectors (including health, education, logistics and many others). In addition, FinTech, RegTech and CyberTech as well as applications related to artificial intelligence, smart sensors and robotics and advanced manufacturing shall be considered by foreign investors. The revisions related to Public Private Partnership (PPP) law and Investment law will provide additional opportunities and possibilities.

Qatar offers many different ways to access the national and regional markets. An important element are the free zones which permit up to 100 percent foreign ownership. The free zones include the Qatar Financial Centre Authority (QFCA), Qatar Free Zones Authority (QFZA) and Qatar Science & Technology Park (QSTP).

In addition, key stakeholders including the Qatar Stock Exchange (QSE) are working to promote and support the ecosystem with innovative policies and additional infrastructure. The QSE has more recently launched the Venture Market which allows small and medium businesses to list on the stock exchange and to trade the shares publicly.

Please click on the link and reach out to learn more about the (business) ecosystem in the State of Qatar and the initiatives of Business Start Up Qatar.

Other News

BSUQ News 104 - Thumb

M7 and QSTP partner to target Qatar’s fashion and design sectors

M7 and Qatar Science & Technology Park (QSTP) have announced a partnership to strengthen Qatar`s entrepreneurship ecosystem.

The agreement provides for M7, an affiliate...

Read more
BSUQ News 103 - Thumb

Contracts in construction at the top of the mega projects in Qatar

A Qatar International Centre for Conciliation & Arbitration (QICCA) webinar discussed...

Read more
BSUQ News 102 - Thumb - New

Bedaya and stakeholders equip entrepreneurs on their journey in Qatar

The Bedaya Centre for Entrepreneurship & Career Development recently concluded a series of workshops as part of their ongoing foundation program.

The workshops were delivered online with the object...

Read more
BSUQ News 101 - Thumb - New

QFTH ends second wave of incubator and accelerator with demo day

Qatar FinTech Hub (QFTH) recently held the virtual Demo Day for the second wave of the incubator and accelerator program.

The major FinTech event hosted key players from Qatar’s ecosystem as well...

Read more
BSUQ News 100 - Thumb - New

A snapshot of the venture capital market in the State of Qatar

Qatar`s venture capital market has proven to be resilient despite the pandemic according to the most recent data and information.

The Qatar Venture Investment Report 2020...

Read more
BSUQ News 99 - Thumb - New

Qatar raises awareness for best practices in circular economy

The Josoor Institute held a webinar discussing the circular economy, an economic approach aimed at minimising waste, very recently.

The Josoor Institute is...

Read more
BSUQ News 98 - Thumb - New

Stakeholders in Qatar reiterate their commitment for tourism and travel

The State of Qatar has revealed an ambitious National Tourism Strategy which aims to position the country as a leading destination for tourism and travel.

Qatar has a lot to offer...

Read more
BSUQ News 97 - Thumb

Takeaways and lessons learned from the first Qatar Economic Forum

The Qatar Economic Forum concluded very recently and demonstrated the country’s position as an important centre for business, trade and investment. The virtual event provided a platform to exchange views,...

Read more

Page Break