Qatar records over $2.7bn in FDI in 2024
Qatar attracted $2.74 billion in foreign direct investment (FDI) in 2024 through 241 projects, which created 9,348 jobs, according to the Investment Promotion Agency Qatar's (Invest Qatar) 2024 Annual Report.
These results reflect Qatar's accelerated momentum in transforming its economy in line with the Third National Development Strategy (NDS3), with 95% of total FDI capex directed toward greenfield projects, affirming the country's commitment to diversification, a statement said.
Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry and Chairman of the Advisory Council, 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.'
Sheikh Ali Alwaleed Al-Thani, CEO, Invest Qatar, 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 Ai.SHA, 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% ($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.
A partnership with fDi markets
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 accurate, 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. – TradeArabia News Service
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