(MENAFN- The Peninsula) Deepak John |
The Peninsula
Doha, Qatar: Qatar offers foreign investors a valuable and competitive business climate, with a variety of resources available. The country has a stable and resilient economy – powered by a rigorous diversification agenda, a vibrant environment for innovation and a business-friendly ecosystem, said an official.
Mohammed Al Mulla, Investor Relations Specialist at the Investment Promotion Agency in Qatar, gave a presentation about the investment environment in the country and the financial incentives and facilities it provides to investors during the Qatari-Romanian Business Meeting organised by Qatar Chamber (QC), which explored ways to enhance commercial and economic cooperation between the private sectors of both countries.
“We oversee investment promotion under the Invest Qatar brand. We act as a single point of contact at a national level to connect you to a network of organisations offering world-class support to set up and/or expand your presence in Qatar,” he said.
A number of investment advantages of the region were reviewed, including the good location, the infrastructure, as well as the incentives it provides to foreign investors.
Speaking about pro-business climate in Qatar Al Mulla noted, the country has competitive regimes, in terms of regulation, procedures, taxation incentives and immigration among others. It has conducive business environment, up to 100 percent foreign ownership, strong and efficient legal framework and was ranked second most competitive economy in the Arab World according to IMD World Competitiveness Index 2023.
Qatar is world's largest Liquefied natural gas (LNG) exporter with the third largest reserves of natural gas. The country has healthy trade balance – the trade surplus of $97.5bn with $131bn of exports and $33.5bn of imports in 2022. It also has very high human development per UN Human Development Index – 42 out of 198 countries according to UNDP 2022.
Regarding Qatar's vibrant knowledge eco-system he said, Qatar has a world-leading digital infrastructure which is fourth in 5G Leadership Index with 99 percent internet penetration. It has extensive international investment agreements with China, Germany, France and many more countries. The country has unparalleled market access and connectivity as it is connected to over 180 international destinations by air and sea. Hamad Port is one of the largest green ports in the world, stretching over 28.5 sq km.
Qatar's ecosystem provides a wide variety of support for companies operating in the country. Al Mulla said,“Our key national programs open significant investment opportunities for foreign investors which include Public-Private Partnerships (PPP), Tasmu Smart Qatar programme, Qatar Research, Development, and Innovation Council (QRDI), Manateq, Qatar National Research Fund, National Food Security Programme, Special Economic Zones, Qatar Fintech Hub and many
more.
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