The Investment Promotion Agency LLC was launched yesterday in Doha. The agency aims to attract foreign direct investment (FDI) to the country, in line with objectives set out in the Qatar National Vision 2030.
As part of its mandate to attract more FDI into Qatar, the Investment Promotion Agency LLC, will aim to be a single and complete source for investment solutions in the State of Qatar by attracting FDI in all of the country’s priority sectors.
The entity will also pursue targeted, sector-specific investment promotion agendas and coordinate investment promotion and marketing activities with key stakeholders, as well as develop policy advisory.
The Advisory Board held their first meeting recently where they discussed the Agency’s strategy, roadmap, and budget, as well as the key target sectors and incentives plan.
Minister of Commerce and Industry and Chairman of the Advisory Board of the Investment Promotion Agency, HE Ali bin Ahmed Al Kuwari, said that “Qatar is already an attractive hub for foreign direct investment. Launching the Investment Promotion Agency will add to Qatar’s efforts to further boost FDI into the country, and the agency will achieve this through a number of initiatives such as working with stakeholders to support international businesses wishing to set up operations in Qatar”.
“We are committed to stimulating Qatar’s economic development by attracting foreign direct investment through a number of avenues. The Investment Promotion Agency will enhance these efforts by encouraging more international investors to set up in Qatar, leading Qatar into a new period of economic growth,” HE the Minister of Commerce and Industry and Chairman of the Advisory Board added.
The Advisory Board is comprised, in addition to its chair, of Minister of State and Chairman of the Qatar Free Zones Authority, HE Ahmad bin Mohammed Al Sayed; Representative of HE Prime Minister’s Office, HE Sheikh Ali Alwaleed Al Thani; Acting Undersecretary for Trade Affairs, Saleh Majid Al Khulaifi; CEO of Qatar Financial Center (QFC), Yousuf Mohamed Al Jaida; and Executive Director of Qatar Science and Technology Park, Yosouf Abdulrahman Al Salehi.