Qatar moves to attract FDI

Author: Lizzie Meager | Published: 2 Feb 2016

The Qatar Financial Centre (QFC) has passed a range of legislative reforms in a bid to boost foreign investment in the Gulf state.

Last month the QFC’s board significantly broadened the scope of businesses allowed to set up shop within the free zone, approving 17 additional industries including architecture, engineering, urban planning and media representation.

Doha, Qatar
Onshore companies and stock exchange rules have also been updated in a push from many Gulf Cooperation Council (GCC) countries to diversify their economies in the wake of tumbling oil prices.

But with the nearby Dubai International Financial Centre (DIFC) and recently opened Abu Dhabi Global Market (ADGM), the QFC faces stiff regional competition.

“The authorities are generally very keen to make Qatar attractive as a financial centre – in particular, one that offers alternatives to other regional centres, including Dubai and Abu Dhabi,”...