Due to wise strategies adopted in recent years and business friendly climate, Qatar is fast becoming an attractive global destination for investors from across the world.
Qatar is successfully diversifying its economy and foreign investors are investing in the state as Qatar recorded a remarkable 70 percent annual foreign direct investment (FDI) growth from 2019 to 2022. According to the Investment Promotion Agency of Qatar (IPA Qatar), in 2022, Qatar attracted $29.78bn in foreign investments resulting in 13,972 jobs across diverse sectors, including business services, technology, financial services, and other industries.
Such achievements have placed Qatar at the top of the FDI Standouts Watchlist for 2023, reinforcing the country’s status as an attractive investment destination.
IPA Qatar has affirmed that it has managed to attract FDI and build a world-class business environment that propelled Qatar’s growth on the global stage which contributed to highlighting Qatar’s potential as a distinguished destination that attracts foreign investments.
Recently, in April this year, Qatar was ranked 21st globally and second regionally in Kearney’s 2023 Foreign Direct Investment (FDI) Confidence Index, with last year’s FIFA World Cup contributing towards boosting investor interest in the country. The Index also featured an exclusive ranking for Emerging Markets for the first time in its 25-year history, in which Qatar was ranked second in the Middle East, and fourth globally, highlighting the positive impact of the economic diversification efforts as part of Qatar National Vision 2030.
The Emerging Markets ranking aims to provide business leaders with additional insights into which emerging markets are most attractive to investors. The robust growth of Qatar’s GDP by 4.1% in 2022, up from 1.5% in 2021, reflects in part the growing confidence of investors. Qatar ranking this year also reflects its rising technological and innovation capabilities, an ever more central priority factor for investors.
IPA Qatar, since its launch four years ago, has been keen to capitalise on global investment promotion agencies and pursue modern and innovative techniques in promoting and attracting foreign investments to achieve a paradigm shift in the approach of providing services in the field of promoting investments through a clear vision and overarching strategy through which it had focused on developing a national trade mark to build the identity represented in “Invest Qatar” reflecting the essential transformation Qatar is witnessing as an attractive destination to investments and global talents. In just four years, IPA Qatar engaged over 1,000 potential investors, participated in 150+ events, and formed partnerships with global organizations like Amazon, Iberdrola, Microsoft, and Siemens.
This proactive approach yielded significant results, as evidenced by Invest Qatar ranking first among GCC FDI brands in terms of brand awareness with foreign investors outside the GCC, according to an Ipsos survey.
