Qatar focussing on PPP strategy to attract FDI
Qatar is strategically focusing on public-private partnerships (PPPs) as a means to attract foreign direct investment (FDI), according to the Investment Promotion Agency Qatar (IPA Qatar). The ongoing success of the PPP strategy is already evident in sectors such as oil, gas, and banking. However, the country is expanding its scope and placing a particular emphasis on technology, given the rapid development in the information and communications technology (ICT) sector. This growth has resulted in a significant portion, 27%, of FDI inflows coming from the tech industry, and this percentage is expected to continue increasing.
The IPA Qatar plays a crucial role in driving these initiatives. In its annual 2022 report, the agency announced the creation of over 13,972 new jobs across 135 FDI projects in the previous year. Additionally, Qatar's thriving FDI ecosystem witnessed an impressive QAR 1.08 trillion (USD 29.8 billion) in capital expenditure. This represents nearly 25 times the value of FDI projects from the previous year and a doubling of job creation compared to 2021. The newly generated jobs span various sectors, including oil and gas, software development, information technology, business services, and automotive original equipment manufacturing (OEM).
As the custodian of the Invest Qatar brand, IPA Qatar was established in July 2019 to assist investors in establishing businesses in Qatar. The agency plays a crucial role in transforming and diversifying Qatar's economy, ensuring a favorable environment for investment and business growth.
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