Investment Promotion Agency of Qatar (IPA Qatar) affirmed that it has managed to attract foreign direct investment (FDI) and build a world-class business environment that propelled Qatar's growth on the global stage which contributed to highlighting Qatar's potential as a distinguished destination that attracts foreign investments.

In a statement issued on 22 July 2023, IPA Qatar said that since its launch four years ago, it has been keen to capitalize on global investment promotion agencies and pursue modern and innovative techniques in promoting and attracting foreign investments to achieve a paradigm shift in the approach of providing services in the field of promoting investments through a clear vision and overarching strategy through which it had focused on developing a national trade mark to build the identity represented in "Invest Qatar" reflecting the essential transformation Qatar is witnessing as an attractive destination to investments and global talents.

The statement added that IPA Qatar's achievements have placed Qatar at the top of the FDI Standouts Watchlist for 2023, reinforcing the country's status as an attractive investment destination.

IPA Qatar stated that in just four years, IPA Qatar engaged over 1,000 potential investors, participated in 150+ events, and formed partnerships with global organizations like Amazon, Iberdrola, Microsoft, and Siemens. This proactive approach yielded significant results, as evidenced by Invest Qatar ranking first among GCC FDI brands in terms of brand awareness with foreign investors outside the GCC, according to an Ipsos survey.

IPA Qatar continued to play a strategic role in strengthening a favorable business environment for investors and bolstering the FDI ecosystem in Qatar. The country recorded a remarkable 70% annual FDI growth from 2019 to 2022. Notably, in 2022 Qatar attracted $29.78 billion in foreign investments resulting in 13,972 jobs across diverse sectors, including business services, technology, financial services, and other industries. Such achievements have placed Qatar at the top of the FDI Standouts Watchlist for 2023, reinforcing the country's status as an attractive investment destination.

In addition to its instrumental role in attracting investment, IPA Qatar actively engages in policy advocacy. To date, the Agency has made over 70 policy recommendations to create a better business environment and promote sustainable economic growth. Through 85 publications in eight languages, the Agency has showcased the country's unique strengths and opportunities to investors worldwide.

Image Credit and Source: Qatar News Agency

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Rikhia Basu

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