Doha, October 10 (QNA) The Investment Promotion Agency in Qatar has highlighted the rewarding opportunities that enhance the flow of foreign direct investment to the country, in its latest report that reviews the many advantages of establishing businesses in the country.

In the report tagged with the investment guide, which was issued in eight international languages: Arabic, English, Chinese (Mandarin), French, German, Italian, Japanese and Spanish, the agency said that the State of Qatar has many investment incentives, ranging from its strategic location to the ability to communicate. To the availability of future-ready infrastructure and a business-friendly environment, which supports productivity and competitiveness at all levels, and achieves national development goals.

In support of the country’s strategic plans to diversify the sources of the Qatari economy, the guide reviews the country’s statistics, logistical and industrial areas, and information related to life in Qatar, in the context of four titles: rewarding opportunities await you, your partner in progress, the best home for your business in the Middle East, and a gateway to Abundant opportunities.

The guide provides detailed information about the tax system in Qatar, which includes the state tax system managed by the General Tax Authority, and the system for the Qatar Financial Center. It also provides entrepreneurs and companies with a comprehensive view of the business environment and licensing platforms that will support them throughout their investment journey, including the Ministry of Commerce and Industry, Qatar Financial Center, Free Zones Authority, Qatar Science and Technology Park, as well as the Media City.

In addition to its strategic focus on developing the SME sector and supporting entrepreneurship, the guide highlights relevant national programs, such as the Qatar National Research Fund, established by the Qatar Foundation to support original research selected on a competitive basis, and the Qatar FinTech Center, established by a bank Qatar Development in cooperation with Ernst & Young to support the growth of local and international financial technology companies, and the Tasmu platform, launched by the Ministry of Communications and Information Technology to drive innovation and economic diversification.

The directory also includes major institutions such as the Qatar Business Incubator and the Digital Business Incubator, which provides funding and consultancy for startups. Key organizations in the startup sector also include Sports Accelerator, which focuses on sports, and Qatar Sportstik, a partnership established by Qatar Development Bank in collaboration with Startup Bootcamp and supported by the Supreme Committee for Delivery & Legacy, Qatar Financial Centre, Aspire Zone Foundation, beIN Sports, and the Ministry of trade and Industry.

Commenting on the issuance of this guide, His Excellency Sheikh Ali bin Al Waleed Al Thani, CEO of the Investment Promotion Agency, said, "We have designed the Investment Guide to be a primary source of information for local, regional and international investors aspiring to realize their capabilities and expand their business within Qatar's booming business environment."

The CEO of the Investment Promotion Agency added that the State of Qatar is continuing its process of transformation into a global business center, as the agency is proud to support this transformation, in the context of implementing its mission and achieving national development goals, by embracing global companies and investors, and ensuring their long-term success in Qatar.

The investment guide showed that Qatar is characterized by a stable and resilient economy, reflected by a set of data such as the high credit rating (AA- from Standard & Poor's and Fitch, and Aa3 from Moody's), and the steady growth of GDP is the highest in the region (5.4 percent over the past decade), and the fourth highest rate Per capita income in the world, while the Qatari riyal, which is pegged to the US dollar, provides stability and inspires confidence to investors, the policy of economic diversification and massive investments in infrastructure continue to support economic growth.

In this regard, the guide indicated that the overall economic stability rate in Qatar reached 98.6/100, and the country ranked first in the Arab world in entrepreneurship, second in the Middle East in the Global Financial Security Index, and third globally according to the ease of doing business index for 2020 by the World Bank.

In addition, it has the second largest competitive economy in the region according to the Competitiveness Institute of Administrative Development’s classification, and the eighth globally in terms of the government’s long-term vision according to the World Economic Forum, and its unemployment rate did not exceed 0.1 percent, according to the Planning and Statistics Authority, while the GDP growth rate is expected to reach 4 percent for 2023, and 3.4 percent for 2024, while double taxation agreements were signed with more than 80 countries.

He said that Qatar's infrastructure and digital ready to meet the challenges of the future, and its communication capabilities, ensure investors experience a smooth flow of trade and capital, as well as support them in terms of access to markets and building the relationships they need in order to achieve success.

He stated that Qatar, as home to the best airport and airline in the world, the fifth largest port in the region, and the first country to start commercial use of the 5G network, provides future infrastructure and a distinctive strategic location, allowing access to global markets and ensuring the success of commercial projects in the long run. the long.

The guide highlighted in this context that the state's infrastructure investments amounted to $200 billion, including prestigious commercial and residential projects, in addition to projects under construction worth $250 billion, indicating that Qatar has a high-level logistical infrastructure and a global communication network with Qatar Airways. world-leading digital infrastructure, 99 percent internet penetration, free zones that provide a seamless setup process and connect investors with relevant business opportunities, and carefully designed industrial parks that offer companies an attractive environment to launch and grow their businesses.

The Investment Guide of the Investment Promotion Agency in Qatar pointed out that the country ranks first in the Arab world in focusing on entrepreneurship and has the fifth best education system at the global level. It also has more than 15 prestigious international universities, and the Qatar National Research Fund provided it Research investments worth $1.4 billion, and the Qatar Foundation has funded about 2,300 research projects.

It is noteworthy that the Investment Promotion Agency in Qatar supervises investment promotion activities and acts as a national umbrella for attracting foreign direct investment.

By coordinating closely with Qatari licensing platforms, the agency helps companies advance their ambitions and achieve long-term success by providing support and advice, highlighting Qatar as an exceptional investment destination, introducing international investors to lucrative business opportunities, as well as advancing the economic development of the state, and the achievement of the objectives of economic diversification.

Since its establishment, the Investment Promotion Agency has pursued strategic plans to support investment by sector, consistent with the objectives of economic diversification and national development. While infrastructure projects (especially in the areas of education, health, transportation, research, and support for small and medium-sized companies) shape the features of the current stage, the agency acts as a gateway that attracts long-term foreign direct investment to work in a future-ready environment, and supports companies from the exploration and establishment stage through to expansion stage.