Companies can benefit from Qatar’s business-friendly investment ecosystem to set up their operations and to grow their business. There are significant growth opportunities in all sectors of the Qatari economy such as infrastructure and logistics, financial services, entertainment, technology, advanced manufacturing, tourism, professional services, and agriculture said panelists during a webinar, held recently.
In a webinar organised by the Investment Promotion Agency Qatar’s (IPA Qatar) in partnership with PwC, panelists highlighted Qatar’s thriving business environment and provided a comprehensive overview of the country’s legal and regulatory framework. Hamad Rashid Al Naimi, Manager Investor Relations, IPA Qatar said, “Qatar is strongly committed to economic growth and diversification, and developing new opportunities for international investors.” Al Naimi noted that in order to aid investors, IPA Qatar works closely with businesses by providing information on investment opportunities in addition to connections with the right stakeholders, resources, and support through the investment process to ensure long-term success in Qatar.
Speaking on why invest in Qatar, Bader Shaheen Al Kuwari, Director of Tax Treaties & International Cooperation, General Tax Authority (GTA) said, Qatar has an excellent investment climate and the real driver for foreign investment exists in Qatar’s infrastructure, education, and security. He said, “Qatar offers low tax rate to non-hydrocarbon sectors in an effort to boost these sectors and help diversify the countries income. We believe that a low tax combined with the highly subsidized services is an attractive package that investors find appealing.” Nasser Al Taweel, Deputy CEO & Chief Legal Officer, Qatar Financial Centre (QFC) said, that the cap of non-Qatari ownership has been lifted to deepen the capital markets in Qatar.
In real estate sector, Qatar has welcomed international investors and there has been some changes in investments of non-Qataris in the local market and easing of certain provisions. In terms of enhancing tax regime, antimoney laundering (AML) and combating the financing of terrorism has been important factor for attracting investors.
On a question about how Qatar is developing its regulatory regime to cope with digitalisation of commerce, Al Taweel said, “Qatar has a very well-developed IT infrastructure. There has been a lot of development and transformation on digital side as we have issued a number of laws to regulate e-contracts, e-signatures and digital transactions. A lot of ministries and institutions have switched from physical to digital signatures for products and documents.” Naif Al Sowaidi, Director - Regulations, QFZA discussed the benefits for organisations who setup their businesses within QFZA.
He said, “We are operator of two free zones – Ras Bufontas (RBF) and Umm Alhoul Free Zone (UAH) which are adjacent to airport and seaport where businesses can operate freely. From the emerging clusters in those free zones, we have noticed an abundance of specialised logistics provider and fast-moving activities. “Our expectation from the investors is to have them more integrated with the main land in terms of operations and business deals and to have them export oriented and add value to regional market,” he added
