Why companies should look to invest in Qatar
Andrew Nixon talks about what Qatar has to offer new businesses looking to expand into the region, the potential of the market and the opportunities available for companies looking to grow.
The State of Qatar is one of the fastest-growing economies in the MENA region as well as being one of the richest based on GDP per capita. The majority of Qatar’s wealth and revenue is often attributed to its natural reserves; however, Qatar’s economic policy is primarily focused on expanding and developing its non-energy related industries such as petrochemical, real estate, financial services, education, health, sports and tourism.
In 2010 Qatar was awarded the rights to host the 2022 FIFA World Cup, spurring the country to embark on one of the largest and most ambitious infrastructure projects in the world, which includes the construction of 8 new stadiums, a host of new roads, as well as new and improved transportation links and facilities.
Qatar’s economic policies have provided steadfast support for various sectors and helped boost their contribution to the country’s economic growth, thus strengthening and increasing investor confidence in the national economy.
Over the last 10 years Qatar has been progressively working towards developing an investor-friendly business environment, through the launch of several initiatives, including the creation of a single window for investor services and providing advanced electronic services for business incorporation. This is further supported by an administrative and legislative framework for business development and investments.
All of these developments have been underpinned by the Qatar National Vision 2030 programme, a national development strategy which has already seen significant investments being made in transport and urban infrastructure, such as the expansion of Hamad International Airport, alongside a number of new hospitality concepts, hotels, resorts, malls and conference centres.
This affluent market, which also boasts a growing population offers a raft of opportunities for local, regional and international businesses across a wide range of sectors. Furthermore, many high-level and strategic measures have already been put in place to create a lasting legacy for Qatar, as well as setting new benchmarks for Qatar’s sustainable, social, economic, and environmental development, all of which play an important role when companies are looking to expand their businesses into Qatar.
There is a great deal of potential, as well as plenty of opportunities available for those companies looking to set up or expand in Qatar. The team at Equiom Corporate Services (QFC) can support foreign businesses and individuals who are looking to establish a commercial presence in Qatar through corporate sponsorship structures, business enabling solutions and more.
If you would like guidance, support or more information on how best to set up in Qatar, please get in touch with Andrew Nixon.
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