Latest news with #InvestmentPromotionAgencyofQatar
Qatar Tribune
18-05-2025
- Business
- Qatar Tribune
Foreign direct investment in Qatar grew by 110% in 2024: Investment Promotion Agency CEO
DOHA: CEO of the Investment Promotion Agency of Qatar (IPAQ) HE Sheikh Ali bin Alwaleed Al Thani has affirmed that Qatar witnessed significant growth in foreign direct investment (FDI) in 2024, with 241 investment projects worth $2.74 billion, compared to 115 projects in 2023, representing a significant increase of 109.6 percent, which demonstrates the growing confidence of investors in the Qatari economy and its strategic directions. The CEO of the Investment Promotion Agency said, in an interview with the Qatar News Agency (QNA), that most of the projects are concentrated in the country's vital sectors, most notably the retail and wholesale trade sector (77 projects), and administrative and support services (41 projects). Green, environmentally friendly projects accounted for 74 percent of total foreign direct investment (FDI) projects, reflecting Qatar's growing attractiveness to international investors. This growth is attributed to targeted investment policies, a business-friendly environment, and the country's commitment to diversifying the economy in line with Qatar National Vision 2030. Sheikh Ali explained that this momentum came as a result of a series of political reforms, simplified licensing procedures, and enhanced digital services aimed at improving the business environment, in line with the economic diversification objectives of the Third National Development Strategy. The State of Qatar has also achieved tangible progress through a number of strategic initiatives that enhance investment attractiveness, most notably the launch by the Ministry of Commerce and Industry of the Qatar National Strategy for Manufacturing Industries (2024-2030), which aims to achieve an annual growth rate of 3.4 percent in non-oil sectors. Meanwhile, the establishment of the National Bureau of Statistics represented a pivotal step in promoting data-based policies and consolidating the principles of transparency, which is a key element in building a competitive and sustainable investment environment. He pointed out that the State of Qatar has achieved advanced international rankings that reflect its upward trajectory in economic development, as it rose to 11th place globally in the IMD World Competitiveness Index for 2024. It has also made remarkable progress in the areas of infrastructure and logistics services, ranking 14th globally in the Logistics Efficiency Index and 19th in the Logistics Infrastructure Sub-Index issued by the World Bank. These achievements confirm the State of Qatar's commitment to building a dynamic and attractive investment system based on innovation and sustainable growth. He pointed out that investment projects in 2024 contributed to the creation of 9,348 new jobs, an increase of 122.7 percent compared to 4,197 jobs in 2023. The sectors that contributed most to the creation of new job opportunities included wholesale and retail trade, administrative and support services, accommodation and food services, and education services. He explained that these investments reflect Qatar's strategic commitment to diversifying its economy by enhancing investments in key sectors that contribute to long-term growth and increased economic resilience. They also demonstrate the attractiveness of the regulatory environment and world-class infrastructure that support business expansion. He pointed out that by focusing on value-added and innovation-driven sectors, Qatar is not only continuing to create investment opportunities but is also strengthening its transformation into a knowledge-based economy ready for the future. This approach is in line with the Third National Development Strategy, which aims to achieve an average annual economic growth of 4 percent, increase labor productivity, and attract $100 billion in foreign direct investment by 2030. He stressed that these efforts have resulted in remarkable progress in global rankings, as the State of Qatar ranked first globally in the areas of tax policy and basic infrastructure, according to the IMD Competitiveness Index for 2024, and ranked second in public infrastructure (Global Innovation Index 2024), and fourth in information and communications technology development (International Union Index 2024). The country's commitment to entrepreneurship and innovation was also clearly demonstrated in the results of the Global Entrepreneurship Monitor (GEM) Index (2024-2025), where it ranked first in entrepreneurial intentions and employee activity, and ninth in business opportunities. On the regional level, the CEO of the Investment Promotion Agency of Qatar, said that the State of Qatar leads the Gulf Cooperation Council (GCC) countries in a number of key indicators, including first place in policies towards foreign investment (EIU Business Environment Index 2025), financial services (Global Opportunity Index 2025), and economic resilience (FM Global Index 2025), in addition to occupying second place in business and investment opportunities. This advancement in regional and international rankings confirms the success of the country's economic diversification strategy and enhances its position as a competitive global investment hub that attracts investors. Regarding the agency's strategy to attract quality investments that contribute to building a knowledge-based economy, developing local capabilities, and the specific investment opportunities the agency promotes in "growth sectors," Sheikh Ali explained that the Investment Promotion Agency's strategy focuses on attracting quality, knowledge-based investments, in line with the State of Qatar's long-term economic diversification goals. He said: "We are paying special attention to sectors where the country has a clear competitive advantage and where innovation, technology, and sustainability can be leveraged to create real value for investors and the national economy. Developing strategic partnerships with leading global institutions is a key pillar of this strategy. These partnerships not only create jobs, but also contribute to knowledge transfer, the introduction of the latest technologies, and the application of global best practices in key sectors." He added: 'For example, we partnered with Iberdrola to establish a global innovation center for digital utilities, and with Microsoft to support and attract fast-growing startups in areas such as agriculture, sustainability, insurance, and finance. Our collaboration with Flyer Labs also resulted in the launch of the region's first AI center for transportation in Qatar, while our collaboration with Siemens aims to develop sustainable infrastructure in smart cities, vertical farming, and the transportation sector. Other notable partnerships include the opening of Emerson's Center of Excellence in Lusail City, the provision of Starlink internet services during the FIFA World Cup Qatar 2022, and the opening of the first regional headquarters of the German Association of Small and Medium-sized Enterprises in Doha.' Regarding growth sectors, he noted that the manufacturing sector is a priority under this strategy, particularly in the areas of advanced and smart manufacturing, which contributes to enhancing national capabilities and strengthening supply chains, particularly in the food, chemicals, and high-value industrial goods industries. In the logistics sector, he emphasized that Qatar's strategic location, along with its advanced infrastructure and global connectivity via Hamad Port and Hamad International Airport, represents a strong attraction for companies seeking to establish regional distribution centers, particularly in the field of technology-based logistics solutions. The tourism sector is also a promising sector, given Qatar's growing global standing, advanced hotel infrastructure, and hosting of major international events. This provides diverse investment opportunities and enhances its position as a year-round tourist destination. He said, "Through these global partnerships and a business-friendly environment, we seek to create sustainable investment opportunities that contribute to supporting the economic diversification process and enhancing Qatar's competitiveness on the global stage." He added that as part of efforts to facilitate foreign investment and enhance communication with investors in the State of Qatar, the "Invest Qatar" portal was launched as an advanced digital platform. With the number of registered users exceeding 11,000 to date, the portal has become more than just an information source; it represents a dynamic hub that connects investors with business opportunities, tenders, and potential partners, in addition to providing specialized support from the "Invest Qatar" investor relations team. The portal features integrated features, including instant messaging and access to available opportunities in the public and private sectors, with the aim of supporting investors at various stages of their investment journey. In this regard, he highlighted that one of the recent achievements in developing the platform is the strategic partnership with Qatar National Bank (QNB), which will enhance the ease of doing business in the country. Through this collaboration, investors can benefit from tailor-made packages, bank account management services, and the opening of corporate bank accounts within just three business days, provided compliance requirements are met. These new services are offered directly through the Invest Qatar portal, which recently underwent a comprehensive update that includes a more user-friendly interface, in addition to exclusive financial benefits for members. "We are committed to continuing to develop the platform's capabilities under the Access Qatar program, which includes the launch of new services and initiatives aimed at strengthening Qatar's position as an attractive investment destination that supports foreign investment." Sheikh Alinoted that as part of the Agency's mandate to consolidate Qatar's position as a leading investment destination, it focuses on attracting quality investments that contribute to economic diversification and sustainable growth, in line with the Third National Development Strategy. He said: "As the main gateway for foreign investment solutions in Qatar, we offer a comprehensive suite of services that support investors throughout the various stages of their investment journey. We begin with the discovery phase, where we provide accurate market information and in-depth regulatory insights. We then move on to the investor arrival phase, where we facilitate field visits and communication with relevant authorities and stakeholders. During the business establishment phase, we connect investors to licensing platforms to facilitate business operations, while our post-establishment follow-up services focus on ensuring business continuity and long-term growth. In addition to these essential services, we work to develop the business and investment ecosystem in the country through the Research, Studies and Policy Support Department. In cooperation with our partners in the public and private sectors, we contribute to enhancing competitiveness and improving the business environment, as these are essential factors for attracting sustainable foreign direct investment." In the same context, he added, "We leverage digital innovation to maximize our impact. The Invest Qatar portal, as I mentioned earlier, allows more than 11,000 current members access to investment opportunities and tenders, and communicate with business partners and the investor relations team. We also recently launched the GPT-powered AI chatbot, in collaboration with Microsoft, to provide immediate, on-demand support, enhancing access to information and enabling investors to make informed decisions." As part of its strategic efforts to enhance transparency and improve the efficiency of monitoring and tracking foreign direct investment (FDI) in Qatar, the Investment Promotion Agency (IPA) launched the FDI Dashboard in Qatar in collaboration with fDi Markets. This innovative tool was developed to provide accurate, up-to-date, and real-time data on FDI flows, helping to support informed decision-making and boost economic growth in the country. Data from the Observatory shows that since 2017, Qatar has attracted more than 1,000 foreign direct investment projects, contributing to the creation of more than 73,000 job opportunities and capital investments exceeding $50 billion. Furthermore, we continue to expand our global presence by participating in various international events and high-level promotional activities, with the aim of highlighting Qatar's investment advantages and strengthening its position as an attractive and targeted investment destination. Regarding the agency's assessment of the quality of foreign direct investments it attracts, he said: "At the Investment Promotion Agency, we adopt a strategic and comprehensive approach to evaluating foreign direct investments, focusing on attracting investments that bring real added value to the national economy. Our assessment is not limited to the size of the invested capital, but also includes the extent to which these investments contribute to enhancing technological capabilities, supporting innovation, and transferring knowledge. For example, we target investments that enable local industries to adopt advanced technologies, raise competitiveness, and achieve sustainable growth. High-quality job opportunities are also a key focus of the evaluation process, as we pay special attention to studying the quality of the jobs created in terms of skill levels, available training opportunities, and career development prospects. Through this, we aim to ensure that foreign investments contribute to refining and developing national competencies and creating future value-added jobs. Sustainability is a fundamental pillar of our evaluation methodology, as we strive to attract investments that align with the State of Qatar's commitment to sustainable development and environmental conservation. This is achieved by assessing the environmental impact of projects and encouraging the adoption of clean technology and environmentally responsible practices.
Trade Arabia
27-04-2025
- Business
- Trade Arabia
Digital innovations will revolutionise energy, other sectors: report
The transformative impact of emerging technologies, particularly AI, is projected to generate an annual economic value of $11 trillion to $18 trillion, by revolutionising industries such as energy, logistics and manufacturing, according to a new report. The report, 'Digital Innovation for a Sustainable Future,' released by Invest Qatar, the Investment Promotion Agency of Qatar, and Iberdrola Innovation Middle East, highlights the transformative role of digital technologies in advancing energy efficiency, sustainability and economic diversification. The report explores key global trends in Artificial Intelligence (AI), smart grids, cloud computing and clean technology, offering insights into their potential to accelerate Qatar's digital transformation. The rapid expansion of private 5G networks and hyperscale data centres is reinforcing business competitiveness, as 5G technology is projected to contribute almost $900 billion to the global economy by 2030. These advancements are reshaping energy efficiency, as smart grids, Internet of Things (IoT) and AI strengthen the resilience and sustainability of power systems. Looking ahead, the shift toward clean technology will require a major workforce transformation, with an estimated 200 million skilled workers required globally by 2050 to support the continued expansion of sustainable energy solutions, it said. Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar, said: 'In Qatar, we are embracing digital innovation with a balanced approach, ensuring it aligns with our long-term sustainability goals. By integrating cutting-edge technology with responsible environmental practices, we aim to create opportunities for investors and businesses committed to drive sustainable growth. We believe that digitalisation is not just about enhancing efficiency, but also about shaping a smarter and greener future.' Santiago Bañales, Managing Director of Iberdrola Innovation Middle East, said: 'This report offers timely insight into how digital innovation, particularly AI, is reshaping the energy landscape and accelerating the shift toward more sustainable systems. AI is driving rapid progress across the sector, from enabling smarter grid operations to optimising the use of renewable energy. Yet it also brings growing energy demands, which must be met with clean, efficient sources. At Iberdrola Innovation Middle East, we are developing AI-based solutions that not only enhance how we generate and manage energy, but also ensure that innovation is sustainable by design. Our ongoing partnership with Invest Qatar reflects a shared commitment to supporting Qatar's transition to a diversified, knowledge-based economy, in line with the goals of Qatar National Vision 2030.' Digital innovation and sustainability are at the core of Qatar National Vision 2030 (QNV 2030), focusing on transforming the country into a tech-driven, knowledge-based economy. The Third National Development Strategy (NDS3), launched last year, reinforces the country's ambition to lead in digital innovation and sustainability. This unwavering commitment is reflected in the country's strategic adoption of emerging technologies, significant investment in digital infrastructure and focus on digital skills development. These advancements have propelled the country's rise in global rankings. Qatar ranks second globally for general infrastructure (Global Innovation Index 2024) and leads the GCC in data and infrastructure (AI Readiness Index 2023). The release of this new report marks the ongoing strategic partnership between Invest Qatar and Iberdrola, building on the memorandum of understanding (MoU) signed in May 2022. This agreement enabled Iberdrola to expand its world-class innovation centre dedicated to advancing the application of AI in the energy sector in Qatar and worldwide. Through this partnership, the Spanish group has expanded its Research, Development and Innovation (RDI) activities via the Doha-based Iberdrola Innovation Middle East, located in Qatar Science and Technology Park (QSTP).
