Investors’ trust in Qatar’s robust economy remains unbroken. The recent data has shown that more companies are lining up to enter Qatar growing economy.
Qatar Financial Centre (QFC) announced last week that there was a 69 per cent increase in new firms registered under the QFC during the first half of 2018, compared to the first half of 2017. QFC has broken another record in terms of firms joining its platform. These figures underline that QFC has become a gateway for FDI and innovation in Financial Services.
The newly registered firms come from a wide variety of sectors including information technology, advisory and consulting, advertising and marketing, legal services and investment clubs.
The majority of new firms joining the QFC platform have come from Europe, India and Pakistan. There has also been a number of firms joining from the USA and the Middle East and North Africa (MENA) region.
QFC has become a hub for regional firms and it is positive to see the vast increase in interest QFC is receiving from international firms.
“With the recent announcement that Qatars GDP has grown 1.4% in the first quarter of 2018, compared to the same period in 2017, and the countrys commitment to open up to foreign investors, Qatar is continuing to prosper and it is no wonder that international businesses are keen to explore the array of opportunities available,” commented Chief Executive Officer of QFC Authority Yousuf Mohammed Al Jaida.
He added that QFC will continue its commitment to explore and attract businesses in new markets to the QFC platform.
Recent data has shown that Qatar’s strong economy is attracting foreign investors. Foreign investments in Qatar amounted to QR676.4bn by the end of the first quarter of 2018, according to the findings of the quarterly
Foreign Investment survey launched by the Ministry of Development Planning and Statistics and Qatar Central Bank.
The survey findings show that liabilities to non-residents (inward investment) increased in Q1 by 4 per cent or QR28.4bn from QR648bn at the end of the previous quarter to stand at QR676.4bn.
At the end of Q1 2018, other foreign investments accounted for 67 per cent or QR455.9bn, followed by FDI in Qatar at QR123.1bn or 18 per cent and portfolio investments at QR93.3bn or 14 per cent of the total liabilities.
The flow of foreign funds is expected to continue this year and also in the coming years due to the proactive steps were taken by the government.
