Qatar Offers Foreign Investors Competitive Business Climate

(MENAFN- The Peninsula) Deepak John | The Peninsula

Doha: Qatar offers foreign investors a valuable and competitive business climate.

The country has a resilient and stable Economy evident by the high economic growth, 6 percent average GDP growth in the last 15 years.

The country has a resilient economy and ranked first in the GCC Economic Resilience (FM Global Resilience index 2024) and has a sound fiscal position and achieved AA credit rating from S&P, Aa2 from Moody's and AA from Fitch.

It also has a robust capital and financial foundation and ranked first in the GCC financial markets (Global Opportunity Index, 2024), noted a recent report by Invest Qatar.

Qatar continuously is evolving its digital landscape, reaffirming its commitment to build a knowledge-based economy.

From manufacturing, energy, tourism, logistics, financial services and education, the Digital Agenda (DA) 2030 aims to generate a cumulative impact of approximately QR40bn and lead to the creation of 26,000 jobs in the ICT sector by 2030.

As with the Third National Development Strategy, the heart of DA2030 is to equip people and businesses with the skills, infrastructure, communities, government and digital tools necessary for them to have limitless potential and opportunity

The agenda embraces digital advancement to drive Qatar's competitiveness and prosperity.

It is an strategy guided by the country's vision and mission, and sets out six objectives, comprising 23 strategic programmes, split into primary and secondary hierarchies, running in concurrent sequences.

The strategic objectives consist of cutting-edge digital infrastructure, booming digital economy, thriving digital innovation, seamless digital government, nurtured digital technologies, and future leading digital society.

It is rooted in dynamic and forward-thinking ideas. It will harness innovation across government entities, sectors, national champions, private organisations, academic institutions and wider society.

This collective effort is pivotal to the roadmap success.

The impact of the DA2030 spans across the nation and beyond, enhancing the lives of Qatar's people and those connected to the country, the report noted.

With strong government support and a conducive ecosystem, the country offers a highly favourable environment for AI success.

The agenda specifically positions Qatar as a leading AI contender where for example, public sector entities are pioneering AI-powered products to elevate efficiency and their services.

Qatar's public sector key AI projects include, Labour market data platform of Ministry of Labour which is a platform that utilises machine learning and natural language processing to manage labour law inquiries and enhance workforce capabilities.

Also, Ouqoul, an AI-powered platform on Google Cloud streamlining job searches by matching students and job seekers with roles suited to their skills.

The Ministry of Communications and Information Technology has AI Innovation for Qatar e-Government which is collaboration with OpenAI and Microsoft to enable government agencies to leverage advanced AI chatbot resulting in integration of OpenAI GPT, with Hukoomi e-government platform.

Meanwhile Ministry of Municipality has Smart Waste Management Program that is AI intelligent simulation of traditional waste management and collection operations that enables to efficiently manage waste through automatically generated schedules and routes for waste container collection.

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