The Qatar Investment Promotion Agency revealed that Qatar continues to strengthen its position as an attractive destination for foreign investment, with a six-fold increase in foreign direct investment.
The agency added, in a tweet on its official account on the social networking site Twitter, that Qatar now ranks fifth on the list of the largest markets that attracted foreign direct investment in the Middle East and Africa.
The agency confirmed that foreign direct investment projects quadrupled in 2022, and were concentrated in the sectors: business and specialized services, software and information technology services, tourism, and financial services, according to the “Foreign Direct Investment Report 2023 issued by the Investment Monitor: Focus on the Middle East and Africa.” ».
The report revealed that Qatar, Saudi Arabia, the UAE, South Africa and Egypt topped the countries of the Middle East and North Africa in foreign direct investment, as the region achieved the largest gains in the share of the foreign direct investment market in 2022.
The report indicated that the Middle East and the region was the fastest growing foreign direct investment since 2019, increasing by 13.6% in 2022 compared to the previous year, according to the report, which provides data, insights and analysis on foreign direct investment.
Foreign direct investment in Africa increased by 17.7% in 2022 compared to the previous year.
However, despite losing global market share, Europe, Asia and North America are still the top three regional markets for FDI, according to the report.
The report revealed that digitization and green energy were the top priorities for investors during the year. The report, titled “Foreign Direct Investment Report 2023: Focus on the Middle East and Africa,” also highlights potential opportunities to secure a greater share of foreign direct investment as investors seek green investment. The report stated that each of the first five countries managed to attract foreign direct investment through several sources.
Last month, the Investment Promotion Agency of Qatar launched the Invest Qatar Portal, the first digital platform dedicated to supporting investors in Qatar. This platform provides free online resources to foreign investors and companies in Qatar, facilitating the search for new business partners, business opportunities in the public and private sectors, as well as resources to support business development and expansion plans in Qatar. Investors can also explore current tenders and communicate with other members via this portal, as well as the Investor Relations team at the Investment Promotion Agency of Qatar; To obtain direct support in establishing and expanding businesses, companies and projects across various sectors.
Expanding its digital offerings for investor relations, the IPA-Qatar will also launch an additional initiative in the second quarter of this year, namely the “Access Qatar” initiative, which aims to facilitate foreign investors’ access to Qatar by helping to obtain On visas and entering the country, providing advisory services, assistance in establishing businesses, appropriate information for each project, opportunities to reduce costs, fast-track services at airports, and assistance through the “WhatsApp” application 24 hours a day, seven days a week.
Supported by an innovative content management system and real-time insights, the main investment platform “Invest Qatar Portal” can be accessed through the website of the Qatar Investment Promotion Agency, which supports users in making informed decisions regarding their business and investments. The comprehensive directory of companies available through the platform gives users the opportunity to explore companies already in Qatar, request exposure to potential partners, and present the existing company or local activity to other companies and investors. This innovative system is part of the Investment Promotion Agency of Qatar’s continued commitment to innovation and digital transformation of the investment ecosystem in Qatar.
