Qatar enjoys a world-class climate for business and investment (official)
Doha: Qatar has a stable and resilient economy and enjoys a world-class climate for business and investment. The country’s ecosystem offers a wide variety of business support, an official said at a recent event.
The virtual event entitled “Creative Zone x Invest Qatar webinar: Doing Business in Qatar” was organized by Creative Zone in partnership with Qatar Financial Center (QFC), Qatar Science & Technology Park (QSTP) and Qatar Free Zones Authority (QFZA). There has been talk of doing business in Qatar for new investors and business owners who can come and operate businesses in Qatar.
Mohammed Al Mulla, Investor Relations Specialist at the Qatar Investment Promotion Agency, said: “Qatar is one of the most stable, resilient and competitive economies in the world. The country enjoys a world-class climate for business and investment which is due to the variety of tax investments such as 100% foreign ownership, zero to ten percent corporate tax, zero personal income tax and customs duty exemptions (subject to activity)”.
Mohammed Al Mulla, Investor Relations Specialist at Qatar Investment Promotion Agency
The country has a very business-friendly environment with a variety of resources available and that is because “we have a stable and resilient economy. We maintain one of the highest levels of GDP per capita in the world and are considered one of the top three in the Arab world in the Global Entrepreneurship Index. We also offer a vibrant knowledge ecosystem and rich culture as Qatar strives to become the next obvious sporting destination by the 2022 FIFA World Cup,” he added.
Qatar’s ecosystem also offers a wide variety of support to companies operating in the country through key national programs and several investment incentives managed by different entities. Al Mulla noted, “Our key national programs open up significant investment opportunities for foreign investors, including public-private partnerships (PPP under Ashghal, Special Economic Zones, Qatar Fintech Hub, TASMU Smart Qatar Program, Qatar Research, Development, and Innovation Council (QRDI), Manateq, Qatar National Research Fund, National Food Security Program and many more.
There are also several investment incentives run by different entities, for example the MoCI offers a range of investment incentives including land allocation, import duty exemptions for machinery and equipment and tax exemptions for investors. The QNRF offers a range of mechanisms from reviewing your feasibility study to supporting with the necessary funding and providing legal and financial advice, he added.
“IPA Qatar can help and support investors in many ways as we work closely with companies to understand objectives, to connect with the right stakeholders and resources, support throughout the investment process to ensure long-term success in Qatar,” explained Al Mulla during the online event.
Hamad Al Nasr, Senior Associate at Qatar Financial Centre, Walaa Amer, Engagement Manager, Qatar Science and Technology Park also participated in the event.