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Posted On: 8 July 2008 09:58 am
Updated On: 12 November 2020 02:08 pm

Foreign investment in Qatar surges

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FOREIGN investment in Qatar leapt to $1.79bn in 2006 from $252mn in 2000, the Qatar Statistics Authority (QSA) said in a report released yesterday. As a result of the increase, the ratio of foreign direct investment to GDP rose from 1.4% in 2000 to 3.2% in 2006, according to the second National Report on the Millennium Development Goals in the State of Qatar. Foreign investment was attracted by the flexibility in legislative frameworks in financial services, real estate and communications sectors, as well as economic growth, which rose over 20% in the past two years, the report said. Cash remittances for immigrant workers taking part in development projects in Qatar rose to $7.9bn in 2005 from $5.5bn in 2001, forming 7.2% of the country’s GDP, it said. – Reuters