Latest news with #FaisalbinThanibinFaisalAlThani
Qatar Tribune
23-05-2025
- Business
- Qatar Tribune
Investment in tourism a key pillar of economic diversification: Minister
Minister of Commerce and Industry HE Sheikh Faisal bin Thani bin Faisal Al Thani affirmed that investment in tourism projects is a key pillar of economic diversification, and a vital driver of public-private partnerships aimed at advancing development. Such projects serve as a key catalyst for attracting high-quality investments that contribute to sustainable development and achieve the goals of Qatar National Vision 2030. The West Bay Waterfront and Safliya Island development project, the minister said, reflects Qatar's commitment to enhancing the investment environment and supporting vital economic sectors, including tourism, hospitality, and entertainment. For his part, Eng Mohammed bin Abdulaziz Al Meer, president of the Public Works Authority, confirmed that the waterfront development project in the West Bay area and Al Safliya Island embodies a distinguished model of constructive cooperation between various government entities, and an effective partnership with the private sector, within the framework of Public-Private Partnership initiative adopted by the state. He called on all national entities working in the building and construction sector to seize this important strategic opportunity and contribute effectively to the implementation of this ambitious project. He affirmed that Ashghal plays a pivotal role in implementing tourism projects by providing integrated infrastructure that is in line with the objectives of tourism projects, while adhering to the highest standards of quality and sustainability, ensuring a balance between urban aesthetics, preserving the environment and natural resources of the country. Sheikh Ali Alwaleed Al Thani, CEO of Invest Qatar, said: 'Invest Qatar is pleased to support the West Bay Waterfront and Al Safliya Island project, a transformative initiative that will attract significant investment and elevate Qatar's tourism infrastructure. This project is a testament to Qatar's commitment to creating a dynamic and diversified economy by fostering strategic partnerships with world-class developers to contribute to Qatar's growth. We believe this development will not only enhance the visitor experience but also create new opportunities for innovation and sustainable development in the hospitality and leisure sectors.'
Qatar Tribune
21-05-2025
- Business
- Qatar Tribune
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.
Qatar Tribune
21-05-2025
- Business
- Qatar Tribune
Invest Qatar unveils $1 billion incentive programme to boost investment
QNA Doha 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 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 program 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 digitization of existing facilities, create high-skilled employment opportunities, promote knowledge transfer and foster an innovative, tech-driven ecosystem. Minister of Commerce and Industry and Chairman of the 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.'page 8
Qatar Tribune
18-05-2025
- Business
- Qatar Tribune
Qatar records over $2.7bn in FDI in 2024, creating over 9,000 jobs
Tribune News Network Doha The Investment Promotion Agency Qatar (Invest Qatar) released its 2024 Annual Report on Sunday, showcasing a strong year of investment growth, global engagement and continued momentum in positioning Qatar as a leading global business hub. Highlighting a year of robust economic growth, strategic policy reforms and enhanced investor confidence, Qatar attracted $2.74 billion in foreign direct investment (FDI) in 2024 through 241 projects, which created 9,348 jobs. These results reflect Qatar's accelerated momentum in transforming its economy in line with the Third National Development Strategy (NDS3), with 95 percent of total FDI capex directed toward greenfield projects, affirming the country's commitment to diversification. Minister of Commerce and Industry and Chairman of the Advisory Council HE Sheikh Faisal bin Thani bin Faisal Al Thani said, 'Guided by the Third National Development Strategy (NDS3), Qatar is paving the way for a sustainable, innovative and secure future. The results in this year's report reaffirm our efforts to attract high-quality investments, strengthen economic resilience and enable private sector growth. Qatar remains committed to building a diversified, knowledge-based economy that offers exceptional opportunities to both Qataris and the global community.' Invest Qatar CEO Sheikh Ali Alwaleed Al Thani said, '2024 has been another successful year for Invest Qatar, marked by significant milestones that reinforce our commitment to positioning Qatar as a premier global business hub. Through over 1,200 investor and stakeholder meetings, 120 fact-finding trips, the successful attraction of more than 30 companies, and the introduction of innovative digital tools like we have made strides in fostering investment, innovation and sustainable growth. As we present this annual report, we celebrate these achievements and look forward to building on this foundation to drive further economic opportunities and advancements in the years ahead.' Key investment activity spanned a range of priority sectors, including electric power generation, which accounted for the largest share of capital expenditure at 40.1 percent($ 1.1 billion), followed by retail and wholesale trade, data processing and hosting, and scientific research and development. This growth was driven by Qatar's continued efforts to improve the business environment, launch new digital services and streamline licensing procedures across multiple sectors. 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. In a strategic move to enhance the transparency and efficiency of foreign direct investment (FDI) monitoring, Invest Qatar has launched the FDI Projects Monitor in collaboration with fDi Markets. The monitor tracks FDI projects that have been publicly announced since 2017, presenting over 1,000 FDI projects, that have generated over 73,000 jobs and more than $50 billion in capital expenditure. This innovative tool is designed to provide accrate, real-time FDI data, essential for informed decision-making and fostering economic growth. The monitor also provides an interactive investment map that tracks the locations of FDI projects, providing key insights about the involved companies, job creation statistics and capital expenditure figures, along with sector and source country breakdowns. Additional resources include updates on business environment developments and access to the latest FDI reports with an option to generate custom reports.
Zawya
29-04-2025
- Business
- Zawya
$13.7mln in new industrial sector investments in Q1 of 2025: Qatar
Doha, Qatar: The Ministry of Commerce and Industry (MoCI) announced that new investments in the industrial sector reached QR 50 million during the first quarter of this year. The announcement came during the Ministry's first quarterly performance review meeting, chaired by Minister of Commerce and Industry, HE Sheikh Faisal bin Thani bin Faisal Al Thani, and attended by Minister of State for Foreign Trade, HE Dr. Ahmed bin Mohammed Al Sayed; Undersecretary of the Ministry, HE Mohammed bin Hassan Al Malki; and other senior officials. In a statement issued today, the Ministry noted that the meeting reviewed and evaluated the Ministry's overall performance and progress in line with its approved strategic plans. Key achievements during the first quarter included the launch of a service allowing foreign investors to establish companies using only a passport, the simplification of environmental permit procedures for industrial facilities in cooperation with the Ministry of Environment and Climate Change, the integration of logistics activities into a single commercial registration in partnership with the Ministry of Transport, and the automatic issuance of tax cards upon the registration of new businesses. The Ministry also launched the "National Product" page on its website to promote fair competition and enhance the quality of local products. Additionally, the verification process for local factories eligible for benefits under the In-Country Value Plus (ICV+) policy has commenced. The statement further detailed that the meeting reviewed detailed performance indicators across the Ministry's sectors and administrative units. Results showed that the manufacturing sector contributed QR 52.4 billion to Qatar's real GDP in 2024. Qatar also advanced significantly in global business efficiency rankings by the International Institute for Management Development (IMD), moving from 18th place in 2022 to 11th place in 2024. Furthermore, the Ministry continued its inspection operations, carrying out 39,558 inspections during the first quarter. The meeting also addressed the status of the Ministry's projects under the Third National Development Strategy (2024-2030), with 17 percent of the projects completed and 23 percent currently underway. In the trade sector, the Ministry reported a 32 percent increase in the number of new commercial registrations in Q1 2025 compared to Q1 2024. The ministerial decision to reduce service fees and facilitate company establishment for foreign investors using passports significantly contributed to an 87 percent rise in the issuance of new commercial licenses year-on-year. Additionally, the average time to issue commercial registrations decreased compared to the same period last year, while the number of home business licenses rose by 54 percent following an expansion of permitted activities from 10 to 63. Moreover, the Single Window platform launched three new e-services during the first quarter, with plans to introduce 38 more services by year-end. User satisfaction with electronic services remained high. Patent applications, trademark registrations, and copyright applications also increased by more than 18 percent compared to Q1 2024. In the industry and business development sector, eight new factories were launched in the first quarter, with new industrial investments totaling QR 50 million. Non-hydrocarbon industrial exports reached QR 29.8 billion, and six potential public-private partnership opportunities were studied. Regarding consumer affairs, the Ministry continued efforts to reduce violations through intensified inspection and awareness campaigns. The meeting also reviewed food and feedstock security levels. The meeting concluded with a review of progress on approved projects for the first quarter, discussions on key challenges faced by the Ministry, and proposals for solutions to enhance plan implementation, ensure continuous performance improvement, and further enhance the quality of services provided. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
