Doha: Qatar has a stable and resilient economy and boasts a world-class climate for business and investment. The ecosystem of the country provides a wide variety of support for companies said an official during an event held recently.
The virtual event entitled ‘Creative Zone x Invest Qatar webinar: Doing Business in Qatar’ was organised by Creative Zone in partnership Qatar Financial Centre (QFC), Qatar Science & Technology Park (QSTP), and Qatar Free Zones Authority (QFZA). It discussed about doing business in Qatar for new investors and business owners who can come and operate business in Qatar.
Mohammed Al Mulla, Investor Relations Specialist at Investment Promotion Agency Qatar said: “Qatar is one of the most stable, resilient, and competitive economies in the world. The country boasts a world-class climate for business and investment which is due to the fact that variety of fiscal investment such as having 100 percent foreign ownership, zero to ten percent corporate tax, zero tax on personal income, and exemptions from customs duties (subject to activity)”.
Mohammed Al Mulla, Investor Relations Specialist at Investment Promotion Agency Qatar
The country has a very business friendly environment with a variety of resources available and that is because “we are having a stable and resilient economy. We are maintaining one of the highest GDP per capita levels globally and are considered one of the top three in Arab world in Global Entrepreneurship Index. We also offer vibrant knowledge ecosystem and rich culture as Qatar is focusing on becoming the next sports destination evident by FIFA World Cup 2022,” he added.
The ecosystem of Qatar also provides a wide variety of support for companies operating in the country through key national programs and several investment incentives operated by different entities. Al Mulla noted: “Our key national programs open significant investment opportunities for foreign investors which include Public-Private Partnerships (PPP under Ashghal, Special Economic Zones, Qatar Fintech Hub, TASMU Smart Qatar programme, Qatar Research, Development, and Innovation Council (QRDI), Manateq, Qatar National Research Fund, National Food Security Programme and many more.
There are several investment incentives operated by different entities as well, for instance MoCI offers range of investment incentives including land allocation, import duty exemptions for machinery and equipment, and tax exemptions for investors. QNRF offers a range of mechanisms – from reviewing your feasibility study and supporting with the necessary funding and provides legal and financial advisory, he added.
“IPA Qatar can help and support investors in many ways as we work closely with businesses to understand the objectives, to connect with the right stakeholders and resources, support through the investment process to ensure long-term success in Qatar”, Al Mulla explained during the online event.
Hamad Al Nasr, Senior Associate at Qatar Financial Centre, Walaa Amer, Engagement Manager, Qatar Science and Technology Park also participated in the event.