Aimed to attract foreign direct investment (FDI) into the country, Qatar launched an Investment Promotion Agency yesterday, which is in line with the objectives of Qatar’s National Vision 2030.

The agency will serve as a dedicated entity for investment solutions in Qatar.

The entity will also pursue targeted, sector-specific investment promotion agendas as well as coordinate with key stakeholders with regards to investment promotion and marketing activities. It will also work to develop policy advisory.

The Investment Promotion Agency aims to attract foreign investment to Qatar, in line with the requirements of Qatar National Vision 2030. #QNA

— Qatar News Agency (@QNAEnglish) July 17, 2019

His Excellency the Minister of Commerce and Industry Ali bin Ahmed Al Kuwari will chair the Advisory Board of the Investment Promotion Agency.

“Qatar is already an attractive hub for foreign direct investment. Launching the Investment Promotion Agency will add to Qatar’s efforts to further boost FDI into the country, and the agency will achieve this through several initiatives such as working with stakeholders to support international businesses wishing to set up operations in Qatar,” commented HE Al Kuwari.

“We are committed to stimulating Qatar’s economic development by attracting foreign direct investment through a number of avenues. The Investment Promotion Agency will enhance these efforts by encouraging more international investors to set up in Qatar, leading the country into a new period of economic growth,” he added.

Other members of the Advisory Board include: HE the Minister of State and Qatar Free Zones Authority chairman Ahmad bin Mohamed Al Sayed; Sheikh Ali Alwaleed Al Thani, representative of HE the Prime Minister’s Office; acting undersecretary for Trade Affairs Saleh Majid Al Khulaifi; Qatar Financial Centre CEO Yousuf Mohamed Al Jaida; and Qatar Science and Technology Park executive director Yosouf Abdulrahman Al Salehi.

Sheikh Ali Alwaleed Al Thani will serve as the Chief Executive Officer of the agency.

The first meeting of the advisory board was held recently that saw discussions on the agency’s strategy, roadmap, and budget, as well as the key target sectors and incentives plan.

The setting up of the agency supports Qatar's aims to continue attracting non-Qatari capital to the country to promote economic development.

Earlier in 2018, HH the Amir Sheikh Tamim Bin Hamad Al Thani issued a new law, paving the way for 100 percent foreign ownership in all sectors of the country. 

--

Make sure to check out our social media to keep track of the latest content.

Instagram - @qatarliving

Twitter - @qatarliving

Facebook - Qatar Living