The Qatar Financial Centre (QFC) has seen considerable growth in 2018 with over 600 firms registering on its platform, a 31 percent increase from the previous year. QFC took an increasingly proactive approach in connecting with vital markets around the world in the past year, Yousuf Mohamed Al Jaidah (pictured), Chief Executive Officer & Board Member said yesterday.
Al Jaidah said the ongoing geopolitical climate has acted as a catalyst for the continued economic growth and prosperity of the State of Qatar. The past year has seen Qatar taking significant steps towards further bolstering its existing economic relations. In line with that, the QFC has also seen considerable growth in 2018.
Across all industries, local and international indicators point to Qatar’s remarkable stability, with improved ratings reflecting ongoing international confidence in Qatar’s economy. That comes alongside the 2018 United Nations report that noted a 27 percent increase in FDI inflows to Qatar between 2016 and 2017. These figures are undeniable proof of Qatar’s economic strength and why it is certainly one of the world’s most dynamic economies.
The past year has seen Qatar taking a series of steps for further bolstering its existing economic relations. His Highness Sheikh Tamim bin Hamad Al-Thani, the Amir of the State of Qatar announced a €10bn investment in Germany over the next five years in the automobile, IT and banking sectors, bringing Qatar’s total investment to €35bn. This is but one example of the wise and forward-thinking government policies that have undoubtedly lead to the economic resilience of our beloved nation.
Mirroring state-level efforts, QFC also took an increasingly proactive approach in connecting with vital markets around the world. “To this end we successfully organised a number of international roadshows and events that took us to markets like Germany, Spain, France, Indonesia and China, all important markets for Qatar and the QFC”, he said.
The QFC acknowledged the importance of working closely with stakeholders. It inked partnerships with the likes of Aspire Zone Foundation, B-Hive, the International Labour Organization, and many others. These partnerships aim to leverage the knowledge and expertise of these institutions to further drive economic diversification in Qatar.
To further strengthen QFC’s existing partnerships, as well as pave the way for new areas of cooperation, QFC welcomed countless high-profile delegations from Georgia, France, Spain, Poland, the United Kingdom, Ghana, South Africa, Malaysia, Pakistan, China, Mexico, as well as the United States of America.
Looking ahead to the rest of 2019, Al Jaidah said, QFC’s new strategic focus on key industries such as digital, media, sports and financial services, as well as specific markets including Kuwait, Oman, Turkey, India and Pakistan will pave the way to our continued success. These markets are a central aspect of our New Emerging Belt Initiative (NEBI), which are valued at over $2.1 trillion. These sectors and markets have been selected as our new areas of focus due to Qatar’s already-established international standing in these fields and markets, as well as their tremendous potential for future growth.
“As we look ahead, I am confident that 2019 will be another outstanding year for us and I look forward to celebrating many more milestones in the coming months,” Al Jaidah said.
