Posted on October 21, 2019

The Qatar Financial Centre, Ministry of Finance, Qatar Free Zones Authority, and the Investment Promotion Agency of Qatar, in association with Bloomberg, recently hosted an event in New York entitled: ‘The Future of Investing: Spotlight on Qatar’. This event is part of a larger strategic media agreement that the QFC has signed earlier this year with Bloomberg and the launch of the first studio for Bloomberg Television in Qatar.

‘The Future of Investing: Spotlight on Qatar’, which took place at Bloomberg’s headquarters, shed light on the many foreign direct investment opportunities available in Qatar to overseas investors. The event saw a range of experts discuss the outlook for foreign investors in Qatar, some of Qatar’s rapidly growing sectors including foreign direct investments in financial technology, as well as Qatar’s upward investing trends seen in the past several years. An analysis of data on what is driving growth in Qatar was also presented by one of Bloomberg’s top experts.

The event was hosted by Jason Kelly, New York Bureau Chief of Bloomberg and included a line up of highly prominent speakers including Ambassador Anne Patterson, President of the US-Qatar Business Council; Rachel Duan, President & CEO of GE’s Global Growth Organization; and James Zhan, Director of Investment and Enterprise at the United Nations Conference on Trade and Development (UNCTAD).

FDI opportunities in Qatar 2 [].jpg

Qatar’s delegates Sheikh Ali AlWaleed Al-Thani (pictured), Chief Executive Officer, Investment Promotion Agency of Qatar; Saud Bin Abdullah Al Attiyah, Deputy Undersecretary for Economic Affairs, Ministry of Finance;  Abdulla Al-Misnad, Deputy Chief Executive Officer, Qatar Free Zones Authority; Sarah Al-Dorani, Chief Marketing Officer, Qatar Financial Centre; and Sadiq Hamour, Director of Financial Institutions, Qatar Financial Centre, joined an influential audience which included a number of C-suite decision makers in financial services and fintech companies in the US.

Sheikh Ali AlWaleed Al-Thani, Chief Executive Officer, Investment Promotion Agency of Qatar said: “Qatar has invested significantly in its economy, generating GDP growth that is expected to hit an impressive $225 billion by 2020. This growth unlocked many investment opportunities in the country, and has already attracted the attention of foreign investors interested in establishing themselves in the Middle East.”

Saud Bin Abdullah Al Attiyah, Deputy Undersecretary for Economic Affairs, Ministry of Finance, said: “Qatar remains one of the world’s fastest growing economies, with an abundance of investment opportunities across numerous sectors. This reflects the forward-thinking and progressive fiscal policies and legislative reforms introduced by the State of Qatar that have already seen a positive impact, as noted by international ratings agencies including Moody’s and S&P, all of which underlines the nations attractiveness as an investment hub.”

FDI opportunities in Qatar 3 [].jpg

Abdulla Al-Misnad, Deputy Chief Executive Officer, Qatar Free Zones Authority, said: “Qatar’s regulatory, digital, entrepreneurial, and legislative frameworks offer a sustainable climate for international investors to prosper. In our brand-new free zones, we are committed to foster economic growth by focusing on sectors where Qatar has a strong value proposition. We aim to attract companies with willingness to play an active role in our vision towards a dynamic and diversified economy, and have the ability to penetrate large, fast growing under-served global markets.”

Sarah Al-Dorani, Chief Marketing Officer, Qatar Financial Centre said: ”The Future of Investing: Spotlight on Qatar has been an excellent platform to highlight Qatar as a critical foreign direct investment (FDI) destination and present the country as the ideal location to expand in the region. The event reaffirms the QFC’s long-term commitment to supporting Qatar’s economic diversification efforts internationally, and serves to highlight the many unique benefits available for foreign businesses through the QFC platform, which is now home to over 750 firms.”

The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.