Doha, May 18 (QNA) - HE CEO of the Investment Promotion Agency Sheikh Ali bin Alwaleed Al-Thani affirmed that the State of Qatar witnessed a significant rise in FDI in 2024, recording 241 projects, more than double the 115 projects in 2023, marking a remarkable 109.6% year-on-year increase, adding that this growth reflects strong investor confidence in Qatar’s economic resilience and strategic direction.

آ آ آ آ In an interview with Qatar News Agency (QNA), the CEO of the Investment Promotion Agency (Invest Qatar) said that most projects were largely concentrated in Qatar’s key sectors, led by retail and wholesale trade (77 projects) and administration and support services (41 projects). Notably, greenfield projects made up 74%, underscoring Qatar’s appeal for long-term, sustainable investments.آ This growth is attributed to targeted investment policies, a supportive business environment, and the state's commitment to economic diversification in line with Qatar National Vision 2030.

آ آ آ آ HE Sheikh Ali bin Alwaleed Al-Thani explained that this momentum was driven by Qatar’s series of policy reforms, streamlined licensing procedures and enhanced digital services, aimed at improving the ease of doing business, in line with the economic diversification goals set out in the Third National Development Strategy (NDS3). Additionally, the introduction of forward-looking strategies, such as the Ministry of Commerce and Industry’s Strategy 2024–2030, which targets 3.4% annual growth in non-oil sectors, further reinforced the investment landscape. The establishment of the National Statistics Centre also marked a major step in strengthening data-driven policymaking and transparency, which is a key enabler of a healthy investment climate.

آ  آ  He pointed out thatآ Qatar’s international competitiveness continues to rise, with the country advancing to 11th in the IMD World Competitiveness Index 2024. Infrastructure and logistics also improved significantly, ranking 14th in Logistics Competence and 19th in Logistics Infrastructure in the World Bank’s Logistics Performance Index, stressing that collectively, these developments reaffirm Qatar’s commitment to building a dynamic, investor-friendly ecosystem focused on innovation and sustainable growth.

آ آ آ آ In 2024, FDI projects generated 9,348 new jobs, marking a 122.7% increase compared to 4,197 jobs in 2023. Most of these roles emerged in retail and wholesale trade, administration and support services, accommodation and food services, as well as scientific research and development, theآ CEO of the Investment Promotion Agency said.

آ  آ  He explained that theآ concentration of investment in these sectors underscores Qatar’s strategic commitment to economic diversification, with a focus on sustainable growth and innovation as outlined in the NDS3. This strong investor interest is driven by Qatar’s clear policy direction, supportive regulatory environment and world-class infrastructure. By prioritising high-growth, innovation-led industries, Qatar is not only expanding investment opportunities but also accelerating its transition to a knowledge-based, future-ready economy, theآ CEO of the Investment Promotion Agency said, adding that this sectoral focus directly supports key NDS3 targets, including 4% average annual economic growth, increased labour productivity and $100 billion in FDI by 2030.

آ  آ  He stressed that Qatar’s progress is reflected in global rankings. The country ranked 1st globally for tax policy and basic infrastructure (IMD World Competitiveness Ranking 2024), 2nd for general infrastructure (Global Innovation Index 2024) and 4th for ICT development (ITU ICT Development Index 2024). Moreover, Qatar’s commitment to entrepreneurship and innovation is evident in the Global Entrepreneurship Monitor (2024–2025), where it ranked 1st for entrepreneurial intentions and employee activity and 9th for start-up opportunities. (MORE)