Representing the gateway to all investment solutions in Qatar, IPA Qatar concluded 2021 on a high note, contributing to a more than QR4bn foreign direct investment (FDI) capital expenditure into the country, according to the fDi Intelligence.
Last year also saw the launch of 82 new FDI projects. Business services, software, and IT accounted for more than 50% of the total projects with 26 and 21 new projects each, respectively.
Other sectors that attracted several projects include communication, financial services, and industrial equipment. Last year also witnessed 1,100 new foreign commercial establishments across the businesses licensing platforms, which contributed to creating roughly 4,200 jobs in the market.
With a multi-year focus on deepening and diversifying strategic engagements and partnerships, spanning different geographies and sectors, IPA Qatar had more than 390 meetings with investors, trade delegations, and stakeholders.
The agency further widened its business network through 61 events, expanding its reach to roughly 65,000 potential investors. Additionally, IPA Qatar forged 16 agreements in 2021 and welcomed new partners, including UBS, Credit Suisse, Intesa Sanpaolo, BI.Zone, German Federal Association for SMEs (BVMW), and FLYR Labs, among others.
Remarkably, 2021 marked the continuation of IPA Qatar’s journey of growth over the last two years, in which significant milestones were achieved. To name a few, last year saw the formation of the Business Development and Marketing working groups, the development and ongoing management of a national financial incentives framework, and the creation of the Economic Research and Policy Advocacy department.
HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani, who is also chairman of IPA Qatar, said: “As we reflect on the growth we have witnessed in 2021, we see the great potential that lies before us in 2022.
“With up to 100% foreign ownership in all sectors, a competitive tax system, world-class infrastructure, a diverse talent pool, and continuously expanding global reach, Qatar is sparing no effort to position itself as a regional and global investment hub offering an unprecedented value proposition.”
Sheikh Ali Alwaleed al-Thani, CEO of IPA Qatar, said: “Drawing on last year’s accomplishments, challenges, and milestones, 2021 can be defined as the year of evolution towards a stronger business identity and flourishing investment environment.
“Looking forward, we remain committed, as the custodian of the Invest Qatar brand, to accelerate our efforts to unify and harmonise the nation’s investment attraction brand and communication to global audiences. Together, with all national partners, we are forging ahead to a bright future rich in opportunity for businesses and jointly shaping a new legacy.”
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