Invest Qatar unveils $1 billion incentives to boost investment
Tribune News Network
Doha
In a strategic move to drive investment growth and accelerate economic diversification, Invest Qatar has officially launched a $1 billion incentives programme, aimed at strengthening Qatar's position as a leading global business hub.
Unveiled at the 5th edition of Qatar Economic Forum, the programme offers a comprehensive suite of incentive packages tailored for both local and international investors. These incentives provide financial support covering up to 40 percent of eligible local investment expenses over five years, including business setup costs, construction, office leases, equipment and employee-related expenses.
Targeting key growth sectors identified in the Third National Development Strategy (NDS3), namely 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. 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. These parameters ensure a streamlined and transparent evaluation process, expediting application reviews and approvals.
Investors can access more information and apply for the incentive packages through the Invest Qatar Gateway, the country's first digital investor platform, offering a seamless application submission.
Commenting on the launch of the new programme, Minister of Commerce and Industry and Chairman of Advisory Council HE Sheikh Faisal bin Thani bin Faisal Al Thani said, 'This initiative is a renewed testament to our 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.'
Invest Qatar CEO Sheikh Ali Alwaleed Al Thani said, 'The launch of this programme marks a strategic step forward in achieving the goals of NDS3. It reinforces our commitment to support high-potential businesses that share our national vision for innovation, diversification and sustainable growth. By addressing the evolving needs of investors, the incentive packages are tailored to unlock growth across today's most dynamic sectors, while empowering the private sector, contributing to a more resilient, competitive and business-friendly landscape in Qatar.'
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. In 2024, Qatar attracted $2.74 billion in foreign direct investment (FDI) through 241 projects, which created 9,348 jobs.
The year also saw a rise in Qatar's international competitiveness, with the country climbing to 11th in the IMD World Competitiveness Index 2024, improving to 28th in the Global Economic Freedom Index and advancing to 24th in the DHL Connectedness Index. Notable improvements were also seen in logistics and infrastructure, with Qatar ranking 14th in the Logistics Competence sub-index and 19th in the Logistics Infrastructure sub-index of the World Bank's Logistics Performance Index.
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