ADVOCACY: Gateway to Qatar
The Qatar Financial Centre’s work underlines Qatar’s identity as one of the world’s fastest-growing economies, connecting global businesses and investors to the country to build a prosperous future that benefits all
Preparations are in full swing as Qatar gears up for its highly anticipated role as host of the FIFA World CupTM 2022, the tournament’s first visit to the Arab world.
From the country’s maritime ports, airport and metro lines to its sports stadiums and road networks, tremendous progress has been achieved in record time, adding an expected $17 billion to the economy. With Qatar National Vision 2030, a blueprint for its economic, human, social and environmental development, in mind, Qatar’s growth trajectory looks well beyond the tournament stage.
For global firms, investors and entrepreneurs, the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the Middle East, is the ideal platform to explore growth in and from Qatar.
Despite the far-felt economic pressures of recent years, the QFC has grown into a broad network of over 1,500 local and international businesses in the financial and non-financial sectors, with a total combined asset under management of more than $28 billion. What’s more, we offer an independent legal, regulatory, tax and business infrastructure for businesses.
Within our focus clusters – financial services, sports, and digital and media – the QFC’s work supports Qatar’s identity as one of the world’s fastest growing economies, sporting integrated pro-business policies and a stable financial framework.
A word on sustainability
As one of the world’s leading LNG producers and one of the first countries to ratify the UN Framework Convention on Climate Change in 1996, Qatar has demonstrated a long-standing commitment to addressing global environmental challenges.
The Qatar Financial Centre’s vision for sustainable development supports this commitment, in consonance with a global effort to build a sustainable financial future.
We launched the first Sustainable Sukuk and Bonds Framework in the Gulf Cooperation Council region earlier this year. It integrates local requirements with the latest International Capital Markets Association’s Green Bond Principles, Social Bond Principles and Sustainable Bond Guidelines. What results is a harmonised financial market ecosystem, reduced risk of greenwashing, as well as the promotion of appropriate disclosures, reporting
and transparency.
Growth outlook
Booming non-oil economic sectors – from AgriTech to sports, media and FinTech – contribute to Qatar’s unequivocal growth outlook. Owing to its rapid expansion, driven by an increase in natural gas production and a push for economic diversification, the World Bank projects Qatar to be the fastest growing economy in the GCC in the next two years.
What emerges is a clear national effort to attract and retain global talent and commerce well beyond the FIFA World CupTM 2022. More so, Qatar is responding to a global call for stability and sustainability action. The next decade will be imperative in deciding the trajectory our world is taking.
The QFC is at once a product of and a contributor to this forward-looking vision. We will continue to connect global businesses and investors to Qatar to build the future we all imagine.
