Qatar unveils $1bn investment incentives package to boost economic diversification
Invest Qatar has officially launched a $1 billion incentives programme, aimed at strengthening the country's position as a leading global business hub.
Unveiled at the 5th edition of the Qatar Economic Forum, the programme offers a comprehensive suite of incentive packages tailored for both local and international investors.
The move is aimed at driving investment growth and accelerating economic diversification in the country.
These incentives provide financial support covering up to 40 per cent of eligible local investment expenses over five years, including business setup costs, construction, office leases, equipment and employee-related expenses.
Boosting key growth sectors
Targeting key growth sectors identified in the Third National Development Strategy (NDS3), such as advanced industries, logistics, IT and digital and financial services, the incentive programme will be rolled out in phases.
The first phase introduces four off-the-shelf incentive packages designed to support new investments, facilitate the expansion and digitisation of existing facilities, create high-skilled employment opportunities, promote knowledge transfer and foster an innovative, tech-driven ecosystem.
The advanced industries package focuses on high-value, technology-intensive sectors such as pharmaceuticals, chemicals, automotive and electronics, fostering innovation and value-added production.
The logistics package is aimed at transforming Qatar into a leading global hub for logistics, re-export and distribution by promoting investments in infrastructure, automation and advanced logistics services.
The technology package seeks to nurture a dynamic digital economy by attracting investments in cybersecurity, cloud computing, artificial intelligence (AI) and data-driven innovation.
Qatar's business growth initiatives
Meanwhile, the Lusail Financial Services package is designed to strengthen Qatar's financial ecosystem by advancing asset management, insurance, wealth management and financial technology (fintech) innovation.
It also promotes the establishment of offices in the city of Lusail, Qatar's premier financial and business district.
The incentives programme is guided by a transparent set of eligibility criteria, including a minimum investment size of QAR 25 million over five years, job creation targets and a track record of operation in relevant sectors.
Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry and Chairman of the Advisory Council, said the initiative is a renewed testament to their unwavering commitment to create a world-class investment environment that not only drives sustainable economic growth but also delivers long-term value to our partners.
'By aligning incentives with the Third National Development Strategy, we aim to attract and support investments that accelerate the development and growth of Qatar's strategic economic clusters,' he said.
The incentives programme builds on Qatar's National Incentives Framework, complementing the country's continued efforts to improve its business environment, through strategic policy reforms, new digital services and streamlined licensing procedures across multiple sectors.
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