Doha – Qatar: The Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, hosted its annual Ambassador Roundtable under the theme ‘Powering Foreign Investment Towards 2030’, convening leaders from Qatar’s finance and investment space to discuss current opportunities for Foreign Direct Investment (FDI) and enterprise business growth in Qatar.
Recognising that economies worldwide are increasingly integrated, the QFC conceived the Ambassador Roundtable to create a platform for regular in-depth discussions between Qatar and its partner countries to strengthen ties and bolster commercial exchange. This year, ambassadors, embassy representatives, trade attachés and senior officials from several business councils came together to engage in critical dialogue focused on generating upward growth momentum for the national economy and finance ecosystem built on partnerships across industries. During the event, the QFC honoured its most active channel partners in promoting FDI, including the Department for International Trade (DTI), the Indian Business and Professionals Council (IBPC), Qatar-Poland Business Council (QPBF), and the US Chamber of Commerce (Qatar Chapter). The QFC also signed a Memorandum of Understanding (MoU) with Massoun Insurance Services LLC and Qatar Insurance Company (QIC) to collaborate in the field of insurance technology and digital innovation development.
Cross-national partnerships spanning all continents were a central topic of the QFC’s Ambassador Roundtable agenda.
In the World Competitiveness Yearbook 2022, Qatar ranked 18th with a high business efficiency score supported by its robust bilateral ties. This performance is reflected in a report by fDi Intelligence stating that foreign investment into Qatar rebounded at 273 per cent growth in 2021 compared to the State’s inbound project numbers in 2019. The QFC and the assembled representatives from some of the world’s leading economies underscored this positive trend, citing growth in emerging sectors and enhanced investment relations as catalysts for future development.
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said: “Fostering international relations are of the utmost importance to the QFC and have been essential in our success. This path has enabled us to expand our reach, service, and benefits to our stakeholders and fulfil our mission to drive economic development and diversification in Qatar. Many of our guests in this year’s Ambassador Roundtable have been long-term partners in promoting bilateral investments that contribute to national and global growth.”
In her address, Sheikha Alanoud Bint Hamad Al-Thani, Deputy CEO & Chief Business Officer, QFC, noted: “Driven by innovation and collaboration, Qatar continues on its path towards the economic, human, social and environmental development objectives set out in Qatar National Vision 2030. Qatar Financial Centre understands the importance of fostering open communication, sharing knowledge, as well as respecting and understanding cultures and traditions to facilitate cross-border entrepreneurship and business. Today’s event supports this mission and serves as an excellent platform to broach important issues and challenges we can collectively address.”
A panel entitled ‘Attracting Investment, Driving Growth’ featuring Sheikh Ali Alwaleed Al-Thani, Chief Executive Officer at the Investment Promotion Agency Qatar (IPA Qatar); Shengqiang Lin, President of Bank of China QFC Branch; Lana Al Khalaf, Country General Manager of Microsoft; Aladdin Hangari, CEO of Credit Suisse Qatar; and Ian Johnston, Qatar Country Head of Cognizant, offered a look at opportunities in Qatar, current trends and growing economic sectors in 2022 and beyond.
In line with the national human and economic development agenda outlined in Qatar National Vision 2030, the QFC continuously develops relationships with the global financial and business community. Through its initiatives and year-round business events, the QFC advances Qatar’s position as a leading business hub in the region and an attractive partner for foreign direct investment.
ABOUT THE QATAR FINANCIAL CENTRE
The Qatar Financial Centre (QFC) is an onshore business and financial centre located in Doha, providing an excellent platform for firms to do business in Qatar and the region. The QFC offers its own legal, regulatory, tax and business environment, which allows up to 100% foreign ownership, 100% repatriation of profits, and charges a competitive rate of 10% corporate tax on locally sourced profits. The QFC welcomes a broad range of financial and non-financial services firms.