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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.
Arab News
18-05-2025
- Business
- Arab News
Qatar's FDI projects jump 110% in 2024, says investment agency chief
RIYADH: Qatar saw a 109.6 percent year-on-year increase in foreign direct investment projects in 2024, more than doubling the 2023 total, reflecting growing global confidence in its economy, according to a top official. Speaking to Qatar News Agency, Sheikh Ali bin Alwaleed Al-Thani, CEO of the Investment Promotion Agency, said the number of FDI projects reached 241 in 2024, up from 115 in 2023. He attributed this growth to strong investor confidence in Qatar's economic resilience and long-term strategic direction. 'This growth is attributed to targeted investment policies, a supportive business environment, and the state's commitment to economic diversification in line with Qatar National Vision 2030," the QNA report stated. Most of the investments were concentrated in key sectors, particularly wholesale and retail trade, which accounted for 77 undertakings, and administrative and support services, which had 41. Greenfield projects, involving new ventures rather than expansions, comprised 74 percent of the total, highlighting Qatar's appeal as a destination for sustainable, long-term investments. Al-Thani stated that these developments were driven by recent reforms, including simplified licensing procedures and enhanced digital services, aligned with the economic diversification objectives of the Third National Development Strategy. He also pointed to the Ministry of Commerce and Industry's Strategy for 2024–2030, which aims to boost the investment environment further by achieving 3.4 percent annual growth in non-oil sectors. The establishment of the National Statistics Centre was also highlighted as a milestone in enhancing data-driven policymaking and transparency, key enablers of a healthy investment climate, the official noted. Qatar's global competitiveness continues to strengthen, Al-Thani said, citing its rise to 11th place in the International Institute for Management Development World Competitiveness Index for 2024. In terms of logistics and infrastructure, the country ranked 14th for logistics competence and 19th for infrastructure in the World Bank's Logistics Performance Index. According to the agency, the new investment projects generated 9,348 jobs in 2024, a 122.7 percent increase from 4,197 jobs in 2023. These roles were largely in the same sectors that attracted the most FDI, including retail and wholesale trade, support services, accommodation and food services, and scientific research and development. 'Our strategy is firmly centered on attracting high-quality, knowledge-based investments that align with Qatar's long-term economic diversification goals. We focus on sectors where Qatar offers a strong competitive advantage, and where innovation, technology and sustainability can generate real value for both investors and the local economy,' he was quoted as saying by QNA. He added: 'A core component of this strategy has been the development of strategic partnerships with leading global organisations. These collaborations go beyond job creation — they are focused on transferring knowledge, introducing cutting-edge technologies and embedding international best practices across key industries.' He said this investment approach supports key national objectives, including achieving an average annual economic growth rate of 4 percent, increasing labor productivity, and attracting $100 billion in FDI by 2030. Qatar's achievements have also been recognized globally. The country ranked first worldwide for tax policy and basic infrastructure in the IMD World Competitiveness Ranking 2024, second for general infrastructure in the Global Innovation Index, and fourth for information and communications technology development in the ITU ICT Development Index. Its commitment to entrepreneurship and innovation was underlined in the 2024–2025 Global Entrepreneurship Monitor, where it ranked first globally in entrepreneurial intentions and employee activity, and ninth for start-up opportunities.
Daily News Egypt
15-05-2025
- Business
- Daily News Egypt
Egypt developing sustainable strategies for African investment, trade integration: GAFI Head
Egypt's government is currently developing sustainable strategies to facilitate investment flows and trade among African nations, aiming to create integrated partnerships with key players on the continent, including Morocco, to boost intra-African investment and trade, according to Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI). Heiba made these remarks during his participation in the 'Connecting Markets to Build the Future' conference, organised by Attijariwafa Bank to strategise on investment and trade integration among African countries. He outlined the Egyptian government's plan to continue improving the investment environment. Key to this is the anticipated launch of the first version of a unified electronic licensing platform within days. This platform will connect entities responsible for issuing necessary approvals for investor license applications, consolidating the point of contact for investors and simplifying licensing procedures. The conference was attended by Hala El-Said, Advisor to the President for Economic Development; Mouawia Essekelli, Managing Director of Attijariwafa Bank Egypt; Ismail Douiri, Co-CEO of Attijariwafa Bank Group; Hazem Enan, Vice Chairman of the Industrial Development Authority; Hani Berzi, Chairperson of Edita Food Industries; Moustapha Cissé, Deputy CEO of Senegal's Investment Promotion Agency (APIX-S.A.); and Amedeo Abunaw, Deputy General Manager of Cameroon's Investment Promotion Agency. Abunaw highlighted Cameroon's investment advantages, noting its membership in several economic blocs that facilitate trade and investment with neighbouring countries, such as the Economic Community of West African States (ECOWAS) and the African Continental Free Trade Area (AfCFTA). He also pointed out Cameroon's role as a major trade hub in West Africa due to its shared borders with landlocked countries like Chad and the Central African Republic. Abunaw praised Attijariwafa Bank's initiative to establish the 'Africa Development Club' in Egypt, Cameroon, and other African nations, stating such initiatives provide a conducive environment for exchanging views, experiences, investment opportunities, and developments, thereby facilitating investment and trade flows across the continent. Cissé invited the Egyptian business community to explore investment opportunities in Senegal, particularly in food processing and preservation, natural gas production and distribution, digital transformation, tourism, and pharmaceuticals. He noted these sectors require significant investment in Senegal, and Egypt possesses considerable expertise in managing them. Mr Cissé affirmed Senegal's political leadership's desire to attract Egyptian investments and exports, acknowledging Egypt as the first country to recognise Senegal's independence. Consequently, APIX-S.A. plans to hold a Senegalese-Egyptian investment forum in Dakar as soon as possible, in coordination with GAFI, to agree on targeted sectors for investment partnerships. Berzi, Chairperson of Edita Food Industries, commended the role of export councils and foreign trade exhibitions affiliated with the Ministry of Investment and Foreign Trade in supporting Egyptian businesses looking to export to African countries. He stated that African countries currently account for 15% of Egyptian exports, a figure that can be increased through better studies of consumer preferences in each country, intensified presence of financial institutions guaranteeing exports and investments in Africa, improved infrastructure and logistics connecting the continent's nations, and forming bilateral and multilateral partnerships with local partners in targeted countries to overcome bureaucratic hurdles, government regulations, or challenges related to distribution network efficiency.
Qatar Tribune
05-05-2025
- Business
- Qatar Tribune
QC, Hungary explore agri-tech cooperation
Tribune News Network Doha Qatar Chamber hosted on Monday a delegation from the Republic of Hungary representing the Investment Promotion Agency (HIPA), led by Anette Nagy, Manager of International Relations at HIPA. The delegation was received by QC Board Member Mohamed bin Ahmed Al Obaidli. The meeting focused on enhancing trade and investment relations between Qatari and Hungarian companies, particularly in agricultural innovation and sustainable food production. Both sides reviewed key investment opportunities in Hungary and the incentives offered by the Hungarian government to attract foreign direct investment. In his remarks, Mohamed Al Obaidli welcomed the Hungarian delegation, highlighting Hungary's reputation for its advanced agricultural technologies and innovative approaches in agri-business. He noted that the meeting reflected a mutual commitment to promoting sustainable development and strengthening economic ties between the two countries. He further emphasised Qatar's strategic focus on the agricultural sector, especially within the framework of its national food security strategy and broader economic diversification efforts aligned with Qatar National Vision 2030. 'In recent years, Qatar has made significant strides in advancing agricultural systems, boosting local production, and adopting smart technologies that support sustainability and resource efficiency,' he said. Al Obaidli underlined Hungary's deep expertise in agriculture, describing it as a valuable partner for Qatar in this journey. He noted the potential for cooperation through joint ventures, knowledge exchange, investment, and technology transfer. He also reaffirmed the chamber's commitment to supporting partnerships between Qatari and international businesses and encouraging Qatari companies to explore collaboration with their Hungarian counterparts. For her part, Anette Nagy stated that the Hungarian delegation included six leading companies specialised inagricultural technologies. She stressed that these companies are keen to explore the Qatari market and establish partnerships with localcompanies. Nagy also highlighted Hungary's significant progress in the agriculture sector and the abundance of opportunities that could appeal to Qatariinvestors.
